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Reload this Page borrower debts pd by co borrower FHA loan (underwriter, assets, definition)
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Old 08-09-2009, 04:54 PM
 
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Can anyone give me a true definition of "donor". Underwriter will not allow one borrower to pay off another borrowers debt on the same loan. Why is it considered a gift if we have verified assets in the file? I understand a gift is not allowed to pay off debt from a true donor. I disagree with a this underwriter. I have researched and can not find the true definition of donor. Any suggestion guys?
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