So in the process of applying for a mortgage, the lender is requiring that they connect to my accounts through PLAID to see all account activity in the last 60 days. I really don't like this for privacy concerns. I have no problem with giving bank statements, but to connect with my account electronically so they can monitor everything just seems uncalled for (and to have no option otherwise). Has anyone else had problems with this? They assure me that it is totally safe, but what else are they going to say?? What did they used to do to verify funds that were deposited after the last statement generated? --107.221.xxx.xx

Sure you do. Are they the only game in town? --73.19.xxx.xx

No. Tax returns, credit report and the numbers on the house. If they can’t make it work with that, go somewhere else. --24.152.xxx.xx

This is a DSCR loan (so no tax returns); have to close by a certain date so deadline looming (not really time to shop around now). I've used this lender before (for DSCR) and have never had to do this. --107.221.xxx.xx

That would be a no for me, not sure what Plaid is but noone gets access to my accounts electronically. --98.98.xx.xx

When I applied for a Mortgage, I did not apply to a bank that was Federally insured by the FDIC. They require all documents of each property owned. Bad for Asset protection. --47.155.xx.xxx

How bad do you want the property? I don't like it but they have the money, they make the rules. It's an online, upload, upgrade or die world. --172.59.xxx.xxx

Never had to resort to DSCRs before. Never cared for thr rates. --98.255.xx.xx

--137.118.xx.xxx

5 Buck$ says ya follow through. --204.10.xxx.xx

Don't like what your bank wants, but sounds like you're up a creek w/o a paddle. --75.11.xx.xx

The DSCR rates seem good, it is the 5-6.5% in additional closing cost, that stop me --67.140.xx.xxx

Here credit unions are reluctant to provide mortgage for rentals beyond a four plex as if a landlord say owns 39 rental units will not be working where focus is running rental complexes. They have to go by information provide from corporate and personal tax returns where it is common in rental industry to completely reveal sundry income from laundromat. Here it is possible to buy a rental complex with less than 20 to 25 per cent down payment where Canada Mortgage Housing Commission will allow say 10 per cent if get mortgage insurance which protects lender along with lower interest rates as less risk. Banks are highly regulated in Canada where banks have obey all the rules and regulations. There are Canadian banks in the Us. Like TD, BMO and RBC. There are American Banks in Canada but on smaller scale. Now there is some economic uncertainty where the tariffs are causing concerns as there is going to be recession as unemployment rates are going up. --216.110.xxx.xxx