Morgan Stanley Home Lones charges a $495.00 free for non approved loans. I was trying to free up some cash so I thought I'd get a refinance through them. My house was valued at three times the loan amount, my IRA with them over five times the amount. They were unable to approve the loan due to a credit application they stated was imcomplete. I provide much more information on my finances that they would ever need for a loan ten time the amount I was asking for.
Every day I would send them some more information, until they ask for documents only my bank would have and P&R statements that wouldn't even be finished until the end of the year. I wonder how many non approced loans Morgan Stanley issues each day? This is the 1st time I have ever been not approved for a loan of any type.
0 comments