The language here the admin is citing was “principal residence,” a term I understand isn’t legally well-defined and is being misreported widely as primary residence
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if the lender prepared docs correctly 'principal residence' on the mortgage agreement corresponds to 'primary residence' on the application so the possible difference is basically irrelevant
aug 28, 2025, 8:00 pm • 3 0 • view
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
aug 28, 2025, 8:02 pm • 3 0 • view
Will take your word on it, was basing it on Levitin’s post www.creditslips.org/creditslips/...
aug 28, 2025, 8:09 pm • 2 0 • view
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
aug 28, 2025, 8:18 pm • 3 0 • view
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
aug 28, 2025, 8:20 pm • 3 0 • view
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
aug 28, 2025, 8:21 pm • 2 0 • view
Oh great point!
aug 28, 2025, 6:31 pm • 1 0 • view