April 24th, 2012 11:32 AM by Daniel Poulos
If you're not careful and follow these basic rules you can have an approved mortgage get cancelled right before closing as a result of the federal Loan Quality Initiative (LQI) program.
Lenders are now required to pull a credit report "immediately" before closing and what they find can jeopardize the mortgage commitment and closing.
Danny Poulos, mortgage banker and broker with the Elite Lending Team at FEMBI Mortgage in Jupiter FL advises on how to avoid real estate closing nightmares.
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