How Often Must Lenders Prove Their Net Worth?
In the mortgage industry, financial stability is paramount. Lenders are required to demonstrate their financial strength by proving their net worth. Here’s a closer look at how often lenders must prove their net worth and what happens if they fail to do so. How Lenders Demonstrate Financial Stability Proving Net Worth Lenders typically submit tax returns and financial statements to prove their net worth, which is the total value of their assets minus their liabilities....