Your mortgage professional has the ability to analyze your income, assets and credit and run an automated credit decision through FNMA or FHLMC. That underwriting process is the basis for your mortgage approval. IF THE SELLER DOESN'T ACCEPT IT, THEN GO ELSEWHERE!
NEVER GIVE YOUR CREDIT REPORT OR PERSONAL FINANCIAL INFORMATION TO ANYONE!!! Your mortgage person has your permission to obtain your credit report but neither you nor the mortgage person should distribute it to any person, including attorneys and realtors! Do you know that this seller is an honest person? None of really know for sure.
The reason is simple...YOU ARE EXPOSED TO IDENTITY THEFT!!! It may not occur now but certainly at a later point in time it could happen to you. The people you send it to may be honest but can they vouch for all their contacts? IMPOSSIBLE...
According to the Federal Trade Commission, during 2007 in this country, 4 PEOPLE PER SECOND were victims of identity theft. These were the people that reported this crime. How many others don't even know that they were victims? How many didn't report that they are victims? Having been a victim please keep in mind that the victim is guilty until you can prove your that you are innocent!
Buying a new home is a great experience. Good luck with this process.