The procedure of obtaining mortgage loan is quite complicated and includes many stages. One of them is to check the documents of the potential borrower. Usually this check is conducted by several services of banking institutions, the head of each of which results provides a report. These documents are stored in the personal file of the borrower and is protected by the Bank secrecy act.
First of all, the Bank's security service checks the client to determine the accuracy of the data provided in the application. Sure it turns out the question of the authenticity of all documents submitted to the Bank by the borrower and in the presence of the guarantors. In addition, credit history and current credit obligations is the subject of the audit in the first place. If it turns out that there are existing loans which was not specified in the questionnaire – this may be cause for rejection of credit.
Another aspect is authentication of documents confirming the income of a potential borrower. Analyze them carefully and meticulously, if necessary, sent relevant inquiries to the place of work and the tax office. The additional income that the borrower can not be documented, are usually not considered in the scoring program. However, if such income is specified in the questionnaire, they may also be verifiable.
In addition to the authentication of documents of the borrower and conformity to its income, Bank officials sent requests to the state electronic registries of movable assets and mortgages. Thus it appears whether on the borrower any obligation. Simply put, the Bank verifies the existence of the outstanding mortgage loans or car loans.
Property that the borrower intends to borrow also check in the appropriate register. With it, it is done twice. For the first time – when you receive a full package of documents from borrower (prior to a decision by the credit Committee), the second time on the day of the transaction. Such precautions are necessary banking organization to reduce the risks of loss of the collateral. For example, there are cases on the secondary market when a few buyers, not knowing about each other, apply for a loan on the same mortgaged in different banks.
Examination of major documents
First of all, the Bank's security service checks the client to determine the accuracy of the data provided in the application. Sure it turns out the question of the authenticity of all documents submitted to the Bank by the borrower and in the presence of the guarantors. In addition, credit history and current credit obligations is the subject of the audit in the first place. If it turns out that there are existing loans which was not specified in the questionnaire – this may be cause for rejection of credit.
Another aspect is authentication of documents confirming the income of a potential borrower. Analyze them carefully and meticulously, if necessary, sent relevant inquiries to the place of work and the tax office. The additional income that the borrower can not be documented, are usually not considered in the scoring program. However, if such income is specified in the questionnaire, they may also be verifiable.
Check the register of mortgages and movable property
In addition to the authentication of documents of the borrower and conformity to its income, Bank officials sent requests to the state electronic registries of movable assets and mortgages. Thus it appears whether on the borrower any obligation. Simply put, the Bank verifies the existence of the outstanding mortgage loans or car loans.
Property that the borrower intends to borrow also check in the appropriate register. With it, it is done twice. For the first time – when you receive a full package of documents from borrower (prior to a decision by the credit Committee), the second time on the day of the transaction. Such precautions are necessary banking organization to reduce the risks of loss of the collateral. For example, there are cases on the secondary market when a few buyers, not knowing about each other, apply for a loan on the same mortgaged in different banks.