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  1. Rhonda Porter
    Aug 13 - 12:08 pm

    Just received this memo from one of the lenders we work with:

    The Lender relies on the outstanding debts, obligations and/or liabilities disclosed by applicants during the loan application. The information
    provided is used for loan program qualification purposes.

    It is the applicant’s responsibility to disclose to the Lender all outstanding debts, obligations and/or liabilities as well as any new or additional liabilities the applicant will incur prior to mortgage loan closing.

    If new and/or additional debts or obligations are identified prior to closing the mortgage loan, The Lender may re-underwrite the application to assess
    loan program qualification requirements are met. The Lender reserves the right to amend or rescind its loan approval based on the re-underwriting

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