sale 01A less-than-perfect US borrower gets a post-crisis mortgage

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NEW YORK, April 5 — Ruth Paloma Rivera just bought her first home, battling her way through the paperwork obstacle course that is the post-crisis American banking system.

In her initial attempt at obtaining a mortgage, the bank wanted a copy of her diploma from Rutgers University, where she earned a bachelor’s degree in political science. It asked for years of telephone bills and a letter from her credit unions to ensure she was in “good standing,” she said. Because of a mistake on her application, the bank also requested verification of her permanent residency status. Rivera, 28, was born in Puerto Rico, which makes her a US citizen.

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PiggyBankBlog Bailiff: “All rise! The honorable Congresswoman Marcy Kaptur has entered the Courtroom of Public Opinion!”