underwriting sheet with false statement, please help

[snav]

Hi everyone,

Im looking for some help and advice.


I have had issues with my sub-prime mortgage and was fortunate to stumble upon the underwriting sheet for my re-mortgage after a DSAR request.

On inspection it has come to light their are a couple of discrepancies from the information that was provided to the broker
and that which is contained in the underwriting sheet.

For example,

1- my outgoings were stated as £420 even when outgoings in loan application were stated to be much higher.
Just my mortgage payments at the time were £650.

2- I requested £120k in my application but was offered £134.
The later figure was used during the underwriting process and was subsequently given more then originally requested.

I am not aware of the underwriting process so not completely sure how i should deal with this. Can this be considered a case of fraud?

[des8]

Re: underwriting sheet with false statement, please help

IMO if the broker sent the loan application with the correct outgoings to the mortgagee, and the mortgagee calculated on different outgoings, then the mortgagee was guilty of irresponsible lending.
if the broker falsified the figures before submitting to the mortgagee, the broker would have committed a fraud.

What to do about it? others will be better placed to advise you.

[snav]

Re: underwriting sheet with false statement, please help

Looking at the check list and the KFI sheets which the agent passed onto the underwriters all the info seems ok apart from the loan amount which was £134K.
In the check list it states outgoing as £900 but within the underwriting sheet it is £420. From my conclusion both the agent and underwriters have both manipulated the process,
agent- requesting higher figure
underwriter- lessened outgoing figure.

does any1 have any experience or thoughts, unsure how to proceed, pls help guys

[gillwall]

Re: underwriting sheet with false statement, please help

Hi, just come across your thread, have you heard off ROFRA "right of first refusal agreement. What I understand is when brokers use sub prime lenders to arrange a secured loan or mortgage for fees some are undisclosed. I'm currently looking at this with my loan.
Gill x