Absolutely, I will meet you at the pub around 8:30 or I will meet you exactly at 8:30. Which one of these can you take to the bank knowing it will happen precisely at 8:30? You see some things are ok with approximates or estimations but some things are not. You can estimate the amount of flour you need in the cookie recipe that you have made 100’s of times in the past but if you have a job interview at 11 and you show up at 11:15 then that is not going to cut it.
Another area when absolutes are a must is in banking. If you record on your mortgage application that you make 65,000 last year but your pay stubs add up to 61,275 and your job letter says that you make 60K then could very well through off your debt service ratio if you were looking to purchase at the high end of your pice range. There are no estimations in banking, we deal in absolutes.
So this is why we check your numbers to verify that everything is accurate even if what you have recorded is off. This could make the difference between your file getting funded or cancelled as things don’t add up.
“Fast is fine, but accuracy is everything” Wyatt Earp
Today I am thankful for our power staying on during the recent storm last night, the measure twice cut one approach to underwriting and winter tires but still no need to leave the house.
I look forward to hearing from you in regard to your mortgage needs.
p.s.s- I should tell you that I am licensed in Nova Scotia, Ontario(M18001555) & in British Columbia(BCFSA #504098).
p.s.s.s You can download my new mortgage app here