Asked by StevensStock, San Diego County, CA • Thu Oct 11, 2012
Our source of funds was an inheritance. We provided underwriter with the account belonging to the deceased person. Then the underwriter asked us to provide inheritance documentation to prove we were entitled to a portion of the estate which we provided. The estate received the funds because of sale of real estate property owned by a trust set up by the deceased. Now the underwriter is asking for the HUD1. We think the underwriter is overreaching since the original property does not belong to the borrowers and the account the sale proceeds were deposited into does not belong to the borrowers. We can see how this request is cascading into many requests for each question asked. We also believe our fiduciary responsibility as trustees would require us to keep trust and estate matters confidential. I should mention here that one of the beneficiaries and another family member who is not a beneficiary both work for this bank in the underwriting department.
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