During the hectic final days before the closing on my new awesome house (which successfully happened last week-- woo-hoo!), I received an email from the assistant to my mortgage loan officer.
Before the mortgage holding company could process the loan, they needed some documentation to explain why my W2's show my annual income so much higher than my (so far) biweekly paychecks would indicate. (There's a clear, but long, explanation for this-- having to do with my summer contract-- but it did require another flurry of paperwork to sort out.)
But they didn't explain it quite that way. The mortgage company told my loan officer they needed following: "Satisfactory explanation from employer why borrowers YTD and W2 income is so much higher then his bi weekly pay [sic]."
This is a professional correspondence between a mortgage company and a loan officer, and they can't even exhibit a basic grasp of possessives and comparative phrases? Plus, who are they calling bi?
And these are the people who will be in charge of hundreds of thousands of dollars of my money?
Is this why the mortgage industry crashed?
...mortgagor owe's more then there income...
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