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To be fair, re: the financial data, most institutions are required by SEC/FINRA to determine your net worth/assets at the time of application. So, to some degre
by NittLion78 14y ago
To be fair, re: the financial data, most institutions are required by SEC/FINRA to determine your net worth/assets at the time of application. So, to some degree, it makes sense you have to fill it out every time.
There's no reason it has to be on paper, though...
- rsobers 14y agoMore to the point: what happens to that mound of sensitive data? Does it sit in a filing cabinet? If it's digital, does my underwriter forward it to her Gmail account so she can do the review on her couch?
- DannyBee 14y agoHaving just bought a house in the past month, i'm going to say that they fax it around 5 or 6 times, then they forward that to their gmail account. That way it looks like crap by the time it gets back to you.