I'm leaning toward agreeing with Luckydog about the borrowers who bought a new car, on credit, just before the closing. (But maybe something expensive went wrong with it and the old one wasn't worth fixing. Something like that happened to me a few weeks ago; I took a charity's van in for inspection. It failed. Repair estimate was $7k, value of van after repairs was $5k. They retired it.)
As for the borrower who changed jobs a few weeks before closing, there were two processes going on that the borrowers may not have had a whole lot of control over, changing jobs and getting a refi. There's a really good chance the borrower had no way to make sure the job change happened after the refi. |
