Did You Know... 12/10/18

  • December 10, 2018

If a borrower has placed a credit freeze on their credit report and it is showing on our Undisclosed Debt Monitor - UDM, the credit freeze must be unfrozen in order for us to fund the loan.  The borrower may have the option to temporarily unfreeze the bureau, but this does not satisfy CMG’s Undisclosed Debt Policy. Frozen credit must be un-frozen by the borrower through the origination process and until the loan funds to adhere to CMG’s Undisclosed Debt Monitoring Policy and Procedure. 

How to unfreeze a credit file link: http://docs.cmgfi.com/wholesale/Credit-Plus-How-to-Un-Freeze-a-Credit-File.pdf

Please refer to our program guidelines for complete details.

 

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© CMG Financial, All Rights Reserved. CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS ID #1820 in most, but not all states. CMG Mortgage, Inc. is an equal opportunity lender with corporate office located at 3160 Crow Canyon Road, Suite 400, San Ramon, CA 94583 888-264-4663. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act No. 4150025; AK #AK1820; AZ #0903132; Colorado regulated by the Division of Real Estate; Georgia Residential Mortgage Licensee #15438; Illinois Residential Mortgage Licensee; Kansas Licensed Mortgage Company #MC.0001160; Massachusetts Mortgage Lender License #MC1820 and Mortgage Broker License #MC1820; Mississippi Licensed Mortgage Company Licensed by the Mississippi Department of Banking and Consumer Finance; Licensed by the New Hampshire Banking Department; Licensed by the NJ Department of Banking and Insurance; Licensed Mortgage Banker – NYS Department of Financial Services; Ohio Mortgage Broker Act Mortgage Banker Exemption #MBMB.850204.000; Licensed by the Oregon Division of Financial Regulation #ML-3000; Rhode Island Licensed Lender #20142986LL; and Licensed by the Virginia State Corporation Commission #MC-5521. CMG Mortgage, Inc. is licensed in all 50 states and the District of Columbia. Offer of credit is subject to credit approval. For information about our company, please visit us at www.cmgfi.com. To verify our complete list of state licenses, please visit www.cmgfi.com/corporate/licensing and NMLS Consumer Access (http://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1820).