That’s wild about the travel reimbursement—never had an underwriter flag that, but I’ve definitely had to write letters about tax refunds and even a PayPal transfer from selling an old TV. It’s gotten more intense over the years. Last time I bought, they asked for a letter about a $150 deposit from a buddy paying me back for concert tickets. Honestly, it feels like they want a novel for every transaction. I get the fraud concerns, but sometimes it feels like overkill, especially for stuff that’s clearly not shady.
Honestly, it feels like they want a novel for every transaction. I get the fraud concerns, but sometimes it feels like overkill, especially for stuff that’s clearly not shady.
Yeah, the level of scrutiny can feel a bit much. I’ve seen clients get flagged for things as random as Venmo payments labeled “lunch” or “utilities.” It’s not always logical, but underwriters are just following strict guidelines to make sure funds are legit and traceable. My advice: keep your accounts clean during the process—avoid moving money around unless you can document it easily. Saves a lot of headaches later.
It does get pretty frustrating, especially when you know there’s nothing sketchy about your finances. But honestly, I’d rather deal with a little extra paperwork than risk having the loan fall through at the last minute. Had a deal nearly collapse once because of an unexplained transfer—never again. It’s tedious, but keeping things simple and well-documented really does pay off in the end.
Couldn’t agree more about the paperwork. I’ve had underwriters ask for the most random things—like a $200 Venmo transfer from months ago. It’s a pain, but keeping a folder with all your statements and explanations handy really does save headaches later. Better safe than scrambling at closing.
Haha, the infamous Venmo witch hunt... I’ve seen underwriters ask for explanations on $5 coffee splits. It’s wild. Keeping a “just in case” folder is clutch, but I swear they’ll always find one thing you missed. Better to over-prepare than get blindsided at closing, though.
