When providing information for the loan process the details are very important. These days everything is double and triple checked.
For example, I'm currently involved in a loan where the borrower says he's worked for a company 2 years. The letter from the employer states he has been employed since Jan. 2010... Hmmmmm. I also have a W-2 from the employer from 2009. Now obviously something isn't matching up. Upon further investigation it turns out the borrower has indeed worked for the company for the last 2 years but transferred divisions within the company in Jan. 2010. The individual that prepared the letter from the employer only included the time the borrower has been in their division, not total time with the company.
This type of incongruousness can lead to big headaches when under the microscope of an underwriter. At this point the entire process would be suspended until this is clarified. The best practice is to be proactive and address these issues of up front before underwriting. Be certain all details and documentation provided support information you provide.
An experienced, licensed loan professional can help you through this process and help you avoid these landmines.
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