If I just refinanced and the loan has funded, but one of the conditions was verification of employe net 15 days after funding---

If your re-verification of employment was done at or just prior to funding, then your loan has closed and funded. Hopefully, you didn't know of a job change or loss of employment prior to your closing - then you are the one culpable, not the bank. Be careful.

if the loan is funded and recorded?? if there is a condtion to sell off the loan after funding, they can call the note due and payable if you are recorded , you should be ok ,but i would be asking my loan officer first to check into this conditon

Is this question hypothetical or real? If it is real, you're going to see some real scrambling from the company that funded the loan. If they funded the loan themselves it was probably using money from a "warehouse line of credit". If the loan becomes un-sellable in the brief time between your funding and their selling to the end holder of the mortgage, they have a problem. Very rarely is there a mechanism whereby the end holder will guaranty purchase from the company that funded the loan, even if there are issues like this. The company that funded the loan can sell it as a "scratch and dent" to an institutional investor specializing in just this type of mishap. They would buy the loan at a hugely discounted price which translates into tens of thousands of dollars. Or, the company who funded your loan is stuck holding it on their warehouse line of credit, diminishing their ability to turn over loans because a portion of the line of credit is permanently tied up. After you get a job and have a reasonable period of stability, it will then again be sellable. If, at that time, it is a higher interest rate market than your new mortgage, they will have to take a discount. I mention all of the above to forewarn you that Monday morning is going to be the start of a desperate effort to somehow draw you into the problem. It's not your problem, unless, as BarbLanis said, you knew about the termination before hand. (Even then, I am not sure there is too much they can do.) Remember the Golden Rule: "He with the money makes the rules." Well, you have their money so don't let them be rough on you. Let us know how this all shakes out. Bruce Conn. PS: I just re-read your question. Do you see anywhere in the documents you have signed that you agreed to the 15 day window after funding for verification?

I've been a Loan Officer for 21-years... I've never seen a condition like that, and it makes absolutely no sense whatsoever. Once the refinance has closed, and the three day right of rescission has past, the loan is a done deal FOR YOU.. Period. If, like Bruce indicated, there is a problem between the initial lender and any final lender, that is not your problem. On the other hand, if you WERE AWARE of a change in employment that you didn't disclose, that is mortgage fraud. They still could't just pull the new loan, but they could decide to act on that information and call the loan due immediately.

I've seen that a couple times recently where someone had just started on a job but hadn't received a paycheck yet, or where we wanted an additional paycheck to have a full 30 days, otherwise it is pretty unusual. It's unlikely that you'll lose the loan but as Bruce said above, the lender could really be sweating it. Recommend you cooperate with them to the best of your ability or delay the closing those 15 days so there's no question.

You have it in writing...verification of employment net 15 days after funding? Certainly, if you were unaware of losing yourjob you have done nothing wrong. Then it becomes an issue for the lender who perhaps funded it prior selling the loan.If through a Broker, than the bank or Lender that funded it may have some sort of agreement with the Broker.Either way I hope they can allow you to make payments on the loan until you show full time qualifying employment.Having worked with smaller direct lenders, certainly we kept a number of loans for awhile that became impossibleto sell at the time...until such time we could sell the loan. The Lender needs to deal with it and I hope works out for you and them so that you can just begin making paymentson time.If they make a demand of payment in full from you and/or try to accuse you of knowing prior to losing your job,that you were likely not going to have a job...then you may wish to speak with a lawyer. I would chooseone that specializes in real estate law, personally. I do not think that will happen.