I am applying for a home mortgage and the lender required a LEO (letter of explanation) on why I am moving to another state and not staying where I live now. Is it really necessary or even legal for them to require this LEO prior to loan approval?
Added (1). @ A hunch - Thanks for the reply, but you didn't answer my question. I know they can ask anything they want, but they didn't ask, they REQUIRE.
I don't think it's anybody's business WHY I move across the street or to Japan.
What I want to know is: Is it really necessary or even legal for them to require this LEO prior to loan approval?
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