you say this didn't used to be. I wonder when you are referring to? I was Manager/Mortgage Broker/Auditor starting 1999. I asked that question and my LO's asked that question. If not initially, definitely before or during underwriting.
I'd like to say this was true in the early 80's, since I was an LO, but my memory can't swear to it
As to the part of your post asking how do you separate income/assets of borrowers, seems simple to me. Income/assets are being used and therefore shown and combined or they aren't included. How is this a problem? My Calyx program had box a check indicating if asset/liabilities were joint or which borrower it belonged to. Maybe that has been removed from earlier versions of Calyx? Not sure that its particularly important, since what you report on the 1003 must be verified anyway. |