You have found your home, successfully navigated the home buying and loan process, and you have signed all of the forms needed at closing to purchase the house. Yeah you made it! Don't break out the champagne yet.
The lender/underwriter has the right to verify your information again before closing or even right after after closing. Yes, they will call your work and make sure you are still employed and check your credit score one more time. You want to make sure you do not buy any big-ticket items or let anyone pull your credit (for example buy a car or a house full of furniture). If your credit obligations increase by more than 2% they have to send the file back through underwriting and can delay closing or disqualify you from the loan altogether.
While this use to be a practice used by some lenders some of the time, it is now a mandated practice that must be used.
Mary Beth Harrison, www.dallastexasrealestateblog.com