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My parents are refinancing their mortgage to seek a lower rate and the mortgage company has seemingly gotten stuck on the fact that my mother co-signed my student loans. At their request I've so far provided 1) 12 months of statements from the student loan servicer showing that the loans payments have been made on time, and 2) 12 months of bank statements (in which I redacted the non-relevant transactions and bank account number) to show that I make the payments on the loans and not my parents. Now the mortgage company has responded to say that they need 12 months of unredacted bank statements, which personally makes me more than a little uncomfortable - sharing a full 12 months of financial history, including bank account numbers, address, etc., seems ludicrous to me when I have absolutely no relationship, documentation, signed agreement, etc. with this company. On top of that, given the seeming inability for any large corporation to keep confidential information secure, I feel I'm justifiably nervous. I'm looking for any advice on how to respond to the mortgage company as they are insisting that they need this in order for my parents refinance to be approved and I obviously don't want to throw a wrench in things for them. Thank you in advance for any responses!
Unfortunately, the mortgage company are under no obligation to lend the money to your parents, so if you refuse to give them the information they ask for, then they can simply decline the application. They will have a duty of confidentiality so your details shouldn't be used anywhere else.
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