No that is usually done by a credit company (3rd party) unless something in the report looks suspect they may call personally
Underwriters, will look at verification of rent forms from a major rental complex. If it is a private landlord, they will want to see the last 12 rent checks indicating a payment on time for 12 months.
Not usually. The rent is generally verified by 12 months cancelled checks/bank statements or possibly a VOR/Verification of Rent.
only If you have limited credit references.. if you have 8, 10 or more credit references on your credit report and they are all paid on time and as agreed, then it's unlikely the lender would require a verification of rent.. however, if you have limited credit or low credit scores, then it's very possible they would require a rent verification.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com
Rent payments are typically verified by a VOR - Verification of Rent. A phone call is not usually involved. For private landlords, canceled checks may be required.
Most lenders require a Verification of Rent form to be completed by the landlord showing no late payments in the past 12 months. This would include the landlords signature and phone number.
Underwriters don't call anyone... but as part of the process, it is very common for the loan processors to send verifications to banks, employers, and even landlords... www.TwinCityHomeLoans.com
The mortgage company typically will contact the landlord, either themselves or through a third party service, to obtain a payment history. This may be done in several ways. In lieu of that, you may provide cancelled checks for the past 12 months.
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