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Acp001
219 Posts |
 Posted - 03/20/2008 : 1:15:16 PM
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| Are all lenders pulling a 4506? I'm all for it actually, but I have an issue with a borrower who I have going as full doc, we have W-2's and paystubs he just hasn't filed his taxes, what do you do in a situation like that, any suggestions? |
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mantixmortgage
2717 Posts |
Posted - 03/20/2008 : 1:16:33 PM
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a lot of them have the borrower sign it at close and just leave it in the file
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skyminor
116 Posts |
Posted - 03/20/2008 : 1:24:37 PM
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| I've never heard of any of them actually pulling the tax return. Perhaps they are bluffing after all. I would think the IRS is slow to send tax forms out anyways. |
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brandie
3260 Posts |
Posted - 03/20/2008 : 1:25:31 PM
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| Provident will before funding gets sent out. |
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re_manager
2625 Posts |
Posted - 03/20/2008 : 1:26:09 PM
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We don't pull 4506 on our portfolio line products. Please let me know if I can help.
Thanks |
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hoangad
2931 Posts |
Posted - 03/20/2008 : 1:28:51 PM
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quote:
Originally posted by Acp001
Are all lenders pulling a 4506? I'm all for it actually, but I have an issue with a borrower who I have going as full doc, we have W-2's and paystubs he just hasn't filed his taxes, what do you do in a situation like that, any suggestions?
are you all for it now? |
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clarenceworley
4235 Posts |
Posted - 03/20/2008 : 1:37:47 PM
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| I have a loan for a self-employed guy that just filed his 2005 and 2006 taxes on 3/5/08...waiting 6-8 weeks for the 4506 to verify his transcipts...by then he'll probably need his 2007 returns to be filed as well. Then again, I file my taxes on time, why shouldn't he? |
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RodneyLO
825 Posts |
Posted - 03/20/2008 : 1:42:42 PM
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quote:
Originally posted by clarenceworley
I have a loan for a self-employed guy that just filed his 2005 and 2006 taxes on 3/5/08...waiting 6-8 weeks for the 4506 to verify his transcipts...by then he'll probably need his 2007 returns to be filed as well. Then again, I file my taxes on time, why shouldn't he?
For future reference...all the client need to do is have them stamped "Received" at the local IRS office. And then you supply copies of such to the UW. Of course, if they owed a bunch, I am sure they would need to provide proof that the taxes were actually paid. |
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