Correcting Gov Monitoring Info on Broker App

Question:

On a Broker application, is the investor allowed to correct the Government Monitoring Information if what is marked is not consistent with the picture ID in the file?

Answer:

No. The borrower is the only person that is allowed to answer the GMI info. The broker/loan officer may ask those questions and complete the GMI info as the applicant responds, but you can't change the answers.

Besides, how do you know what the "correct" answer really is? Just because I look like one ethnicity, race or sex, doesn't mean that's what I really am.

First published on BankersOnline.com 4/30/12