Monday Mortgage Update – May 11

Good morning. It’s Monday, May 11th. Hope you had a fantastic Mother’s Day weekend. My name is Tom Heath with the Heath Team at Nova Home Loans and this is our brief weekly update into the mortgage world.

Today’s topic is the things you may hear. We all know that COVID-19 is creating challenges across the globe and it’s affecting borrowers transactions right here in Tucson. One of the big things that we’re focused on is employment and confirmation of that continuity of employment. If you’ve heard your clients speak of any changes in their income or concerns about their employment, you should really get them in contact with your lending professional and make sure that there is a plan in place.

One of the last things that we do as a lender before we fund the loan is verify income and employment. We do that at the beginning, middle and end. So if you’re aware of any changes, let us know. If you have a self-employed client, you probably want to make sure you’re on the same page with your lending partner on this one as well. It’s a little tricky to verify that someone self-employment has remained the same.

So make sure you have a plan in place and as always the key to that is communication. Well, my name is Tom Heath, Heath Team at Nova Home Loans. You can reach us by phone or email if you have any questions or would like to see any additional topics on this weekly update. Have a great week!