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#481314 - 01/11/06 06:55 PM Length of residency
Ninky Offline
Gold Star
Ninky
Joined: Nov 2002
Posts: 357
Most home loan applications include a field for address of previous residence. Is it strictly up to the lender's policy for the minimum acceptable timeframe for their current residence? 12 CFR27.3(b)only requires the applicant's present address. (National Banks only.)

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Lending Compliance
#481315 - 01/11/06 09:02 PM Re: Length of residency
Rocky P Offline
Power Poster
Joined: Jun 2003
Posts: 7,659
Florida
Most lenders sell their loans on the secondary market. The general rule is to verify residency and income for 2 years. (Fannie/Freddie, CW, WAMU, etc.)
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