she also would have had to have stated what she intended to do with her MI property on the GA application, and for it to make sense as a primary application(absent a few specific exceptions) she would have to be converting the MI property to a 2nd or investment
Will take your word on it, was basing it on Levitin’s post www.creditslips.org/creditslips/...
I think he gets a lot right there I was an underwriter for nearly 20 years, and left the industry just a few months before she took out the mortgages. the processes that were industry standard at the time would have required her to provide a lot of explanation about what she was doing
Because of that, and because there has been very little reference to the application itself from the admin, I think people should avoid crediting the claim that this is how she applied for the loan as an established truth
One thing I think Levitin didn't get to is that the standard form mortgage agreement will *always* have that occupancy clause. A second home or investment property transaction would have a rider amending or deleting the language