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isin1776
136 Posts |
 Posted - 04/25/2008 : 09:04:37 AM
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Been looking at FHA.COM to try to find out if they run 4506 on their loans.
Seems that on one of my files they called the employer to verify employment and had no problems with that. Now I'm just wondering if they'll ask for 4506 given we need to close this transaction like ASAP, I worry this might delay the process.
Purchase in Los Angeles County
loan limits here are 727K
loan amount $535K
Full Doc
fico 755
I thank you for your time
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jpar994
885 Posts |
Posted - 04/25/2008 : 09:07:14 AM
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why would you worry about the 4506 you are going full doc any way ?
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RodneyLO
832 Posts |
Posted - 04/25/2008 : 09:08:49 AM
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| 98% of loans originated currently have a 4506 ordered & verified before closing. |
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Reegor
558 Posts |
Posted - 04/25/2008 : 09:14:44 AM
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4506 are ordered if provided to lender.
Sometimes if I have a rush I wait to see if stipped for 4506 that way it has to be run after closing. Had a 4506 take a week on a borrower. |
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kalee3415
196 Posts |
Posted - 04/25/2008 : 09:19:37 AM
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I don't think she is worried about what will come back, just that if it can cause a delay.
It is really going to depend on the investor as too when and if it is pulled (more when than if). Flagstar for example pulls it as soon as they get the file and lists it as being executed as one of their PTC conditions. Then for example with GMAC a 4506 isn't even required at submission but is a closing condition. So they pull them at different times. I personally have never had it delay anything. |
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isin1776
136 Posts |
Posted - 04/25/2008 : 09:23:43 AM
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guys seems I'm gettig different answers, so what is the final verdict?
thanks |
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lucky1s
3640 Posts |
Posted - 04/25/2008 : 09:26:02 AM
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Every lender is different.
Call yours. |
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