Friday, October 10, 2008

Address, Zip Code, and County Lookup

We see many sales contracts that have an incorrect street name or zip code. When an underwriter gets a loan to underwrite, one of the first things they do is check the official United States Postal Service (USPS) web site to verify the address. If the address on the USPS site is different than the address on the contract, the contract will need to be amended to show the USPS address. Here's the USPS web site to look up the correct address:

http://zip4.usps.com/zip4/welcome.jsp

We use it on every loan we originate before we submit the loan to underwriting, and we recommend that every agent check the site before drawing up the sales contract. If you click on the "Mailing Industry Information" link once you get the correct address, it will tell you the county, which is often entered incorrectly on listings.

This will save lots of time.

No comments: