Information about an existing subordinate lien typically is requested to verify the terms of subordinate financing. Examples of subordinate liens include, but are not limited to:
- Second mortgages
- Amount of a home equity line of credit that will be disbursed at closing or after any rescission period
- The outstanding balance of an existing home equity line of credit
While documents verifying these loans may vary, these liens can usually be verified with:
- A copy of the credit report
- A copy of the note
- A direct verification from the lender
- A copy of the loan or line statement
Avoid delays in processing your loan
For all documents:
- Make sure the copies you send are legible.
- Do not include documents that have been altered with correction fluid or by other means.
- Submit the entire requested document and include all pages (even blank ones).