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> If you apply for a mortgage when your job title is emulation ninja then you are in a quandary. If you write that on the mortgage application then you look lik
by robbiet480 8y ago
> If you apply for a mortgage when your job title is emulation ninja then you are in a quandary. If you write that on the mortgage application then you look like a lunatic. If you write “software engineer” then you get in trouble when the mortgage broker calls your employer. You know. Hypothetically.
- chrisseaton 8y agoDo mortgage brokers call your employer? What’s your mortgage got to do with your employer?
- colechristensen 8y agoVerifying the things you put on your mortgage application are true, like employment details.
- chrisseaton 8y agoI’ve never had that happen - they just looked at my bank account. I wouldn’t want a mortgage provider talking to my employer.
- forrestthewoods 8y agoIf you live in the US then it has almost certainly happened. Whether you know it or not. Employers won’t verify salary. But they will verify employment. I’m not sure if they’ll verify length of employment or not.
- mcculley 8y agoAs an employer, I have had mortgage brokers call our HR lead quite often to verify loan applications. For those who are concerned about privacy: I have found that those loan providers are then selling that data to websites that offer aggregated salary data.
- SmellyGeekBoy 8y agoJust wanted to add another data point and confirm that I've also had to do this as an employer (in the UK). Salary, length of employment and job title at least. Edit: Also for rental contracts.
- hamandcheese 8y agoProbably your income.
- ChuckNorris89 8y agoThe bank needs to check you're actually employed where you said you are, to make sure you've got a stable income to reliably pay your mortgage. Otherwise you're a huge liability.
- jacobush 8y agoLooking at the events that lead up to the financial crash, not much you'd think. What with people putting mortgages on their dogs and whatnot.
- SmellyGeekBoy 8y agoAs a self-employed person who has applied for a mortgage both before and after the crash, I can tell you that a lot has changed. It's just taken me nearly a month of back-and-forth to get approved despite having a near-perfect credit history.
- jacobush 8y agoI wasn't clear, but I meant back in the day, it seems what you filled in didn't have much to do with your mortgage. Nowadays, yes, they verify a lot of things.
- theandrewbailey 8y agoAs an employed "software engineer" who has recently applied for a mortgage (house closing tomorrow!), I'm highly interested in this statement. I've encountered no trouble whatsoever, and I'm honestly surprised that its gone as smoothly and quickly as it has.
- brucedawson 8y agoThe problems only arise if your actual official title at your employer is "Emulation Ninja", because that means that if the lender verifies your employment (common practice) then the job title doesn't match, and suddenly the lender gets nervous... In normal cases it's fine