Forum Replies Created
-
Posts
-
We’re also working on such a worksheet – but not quite ready to share yet. We’re basically going to follow the App Q guidelines for income documentation, even for ATR loans, and pull debt payments from the credit report tradelines, adding in such things as HOA dues, RE taxes & insurance, alimony, child support, etc.
We do not have a “waiting period” – however our bankers may not offer the opt-in privilege if they are suspicious about how the customer intends to use it. For instance if the account is being opened with minimal deposit, and no recurring deposit is being established, such as payroll, then they may not offer opt-in until after they see some history. We’ve also found that Friday afternoons are a peak time for potential fraudsters – they come in to open with minimum cash deposit, ask for instant issue debit card and want to opt-in – big red flags that they’ll hit the ATM and POS terminals over the weekend and we’ll never see them again!
