Totally get the “Stuff Lenders Lose” folder—honestly, I’ve seen folks keep entire spreadsheets just tracking what’s been sent and to whom. Sometimes I wonder if the docs actually get lost or if it’s more about different departments not talking to each other. Out of curiosity, did you ever get a straight answer on why they needed the same statement multiple times? Or was it just “policy”?
Sometimes I wonder if the docs actually get lost or if it’s more about different departments not talking to each other.
Honestly, it’s a mix of both. I’ve seen situations where the same bank asked for a statement three times in two weeks—turns out, underwriting and processing weren’t sharing files. It’s not always “policy,” though that’s the line you’ll hear most. Sometimes they just want the most recent version, but other times it’s just poor internal communication.
One thing that helps: always send docs with clear labels (like “Bank Statement May 2024 – FINAL”) and keep a running log of what you’ve sent, when, and to whom. It doesn’t solve the problem, but at least you have proof if they claim something’s missing. Not foolproof, but it saves some headaches.
I do wish lenders would streamline this stuff. Feels like half my job is chasing paper trails that shouldn’t exist in 2024...
It’s not always “policy,” though that’s the line you’ll hear most.
I get where you’re coming from, but I’d push back a bit—sometimes it really *is* policy, especially with DSCR loans. Lenders have to check for updated balances right before closing, so even if you sent something last week, they might need a fresher version.
- Internal miscommunication is real, but regulatory requirements are a big driver too.
- I’ve seen cases where even perfect labeling didn’t help because the doc was just too old by the time it hit underwriting.
- Keeping your own log is smart, but sometimes you just can’t avoid the repeat requests.
It’s frustrating, but not always just a paperwork mess—sometimes it’s compliance hoops that make no sense to us on the outside.
Honestly, I’ve had lenders ask for the same bank statement three times in a week, each time with a different “reason.” I get that compliance is a thing, but sometimes it just feels like they’re covering themselves in case something changes last minute. It’s a headache, but I guess it’s the price of admission.
Yeah, I’ve seen this dance more times than I can count. Had a client last month who swore the underwriter was just collecting paperwork for sport—same pay stub, three different “updated” requests. I get that they’re trying to keep everything airtight, but sometimes it feels like they’re just waiting for you to slip up. It’s not always about compliance, either; sometimes it’s just a lack of communication between departments. Frustrating, but I guess it’s part of the process these days.