When you go to your closing the closing agent will ask for a photo ID.
If you've ever been known by any other name, the lender will want an explanation.
Even if your formal name is Robert and the name Bob shows up anywhere in the file, your lender will ask that you include a written explanation in the file.
It seems silly, but lenders are doing whatever they can to stop loan fraud.
Lenders want you to promise them that whatever you put in your application is true.
And they don't ask you just once.
In fact, the loan application reminds the borrower that it's a crime to lie on a loan application.
Making a mistake is fine, but intentionally misleading is a felony.
A lender asks if there are any outstanding judgments against you.
If you say "no" and public records show that there are, you can expect to provide an explanation before the loan will go too much further.
The application asks if you've had property foreclosed on or have defaulted on any federal debt such as a student loan? The lender will discover this information on its own; you will however need to check the box that says "yes" or "no" on the application.
Are you obligated to pay child or spousal support? Have you borrowed any of your downpayment funds from third parties? Do you intend to live in the property being financed or will it be a rental? These and other pointed questions are specifically asked and awaiting your answer.
Finally, the lender asks, again, if the answers you've provided in the loan application are true or not.
This might seem a bit silly.
If someone is attempting to commit loan fraud why would they admit it on the loan application? That's a good question.
Yet the question is asked at the very end of the application in order to give the applicant one more chance to walk away.
Loan fraud is a bad thing.
It's not just lying to some distant lender: it sends people to jail.