He’s making a list,
And checking it twice;
Gonna find out Who’s naughty and nice.
Santa Claus is coming to town
–lyrics, “Santa Claus is Coming to Town”
These days, lenders also seem to be “checking their list” twice — if not a whole lot more.
Deals that are getting finalized much later in the process — sometimes, right before (or at) closing.
Or, renegotiated along the way, due to appraisal issues.