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Goverment Monortoring form
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Goverment Monortoring form
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Posted by KG/NY on 9/23/04 9:27pm
Msg #8752

Goverment Monortoring form


I just completed a refi this evening. The original application was taken over the phone by a mortgage rep. When I reviewed the docs prior to closing I looked at the Data Collection Form for goverment monortoring. It stated the borrowers name and the boxes were checked as
" white male" and "white female". At 6:55 I rang the doorbell and behold, I new that the mortgage rep apparently did not do his due dilligence. When I came to the form I said,
" please review this form and make any appropriate changes. (which I NEVER say). They chukled and made the correction to "Black/ African American".
I asked if the rep asked his origin over the phone. He said yes, but he still checked the wrong boxes. In this case I had them draw a line through the incorrect box, initial it and X the correct one.
I'm pretty comfortable that I did the right thing. Any thoughts or comments on this? : ) Thanks


Reply by BrendaTX on 9/23/04 9:45pm
Msg #8754

I think you did the right thing. If this is what I am thinking of this information is usually on FHA/VA forms and is optional. It should be left blank or filled in truthfully.



Reply by Sylvia_FL on 9/24/04 12:48am
Msg #8783

Re: Goverment Monitoring Form

The ones I love are where the LO hasn't filled it out and the borrowers check the box that they prefer not to answer. And it does say if the boxes aren't filled in the lender is required to note the information based on visual observation or surname. Well, as the lender hasn't met them face to face, so can't do it on visual observation, and I had a charming black American couple whose surname was Green! Wonder how the lender would fill that one out.
Or what if their name was Smith?


 
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