Mortgage Grapevine poster Loan-er is looking to resolve a dilemma. Previously, the poster worked at a bank which brokered out its originations and the lenders were okay with accepting faxed or scanned documents. Now the poster is working at a bank which sells loans in the correspondent channel and the situation has changed.
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The correspondent purchaser is demanding that the loan officer send in original documentation with the file. As a result, the poster asks, “Can anyone provide what is and is not required from a legal prospective on this subject?”
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