- Posted by Thomas Conwell
- On June 3, 2009
- 0 Comments
- irs 4506t, mortgage, tax returns, tax transcripts, tb&w, w-2
Taylor, Bean and Whitaker has joined the growing ranks of lenders requiring executed 4506 transcripts. From their 5/28/09 alert…
Transcript Requirements – Effective with loans locked on or after 10 June, 2009, TB&W will require lenders to provide Tax Transcripts for all loans where income is used to determine eligibility (FHA and VA Streamline refinances are exempt). If the borrower is a W-2 wage earner, the lender must obtain the most recent available one tax year’s tax return transcript. If the borrower is self employed or derives income used for qualifying purposes from commissions, dividends, interest, or other sources besides base pay, the lender must obtain the most recent available two year’s tax return transcripts.
Tax return, W-2 and 1099 transcripts are available in about 24 hours – For more information on ordering and pricing – please click here.