Mortgage Employment Verification

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We recently closed on a mortgage on November 28. On November 30, my spouse lost her job and shortly after, a the mortgage company conducted a re-verification of her employment and discovered that she lost her job.
What can happen in this case? What can the mortgage company do? We are still very capable of paying our mortgage, but can we lose the house?


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When a Lender performs a Quality Control review on employment they are specifically looking for employment to be covered prior to the closing of the loan. If one of the borrower’s lose their employment prior to the loan funding and that borrower’s employment is dependent on making the mortgage payment the loan should not fund. If one of the borrower’s lose their employment after the loan closes typically there is not a lot a lender can do after the fact.

They will look at all compensating factors to see if you can make the payments on your own without your spouses wages but if the payments are made on time and there are no other issues you should be fine. They may ask you if you knew your spouse would be losing the job but other than that they cannot kick you out of your home.

Answered over 6 years ago

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