GoFuckYourself.com - Adult Webmaster Forum - View Single Post - Do you hand over tax returns and bank statements when asked?

onwebcam · 06-07-2009, 01:07 PM

As an ex-mortgage broker I can say that you either prove your income or you get no loan. That is unless your credit score is superb and you can get a stated income loan. It's been years since I've been in but since everyone has been running around say that these type of loans (liars loans) were the problem (which they weren't) then it might be hard to find one. Even if you do you're going to pay a higher rate because of it. In most cases they can use either the bank statements or the tax statements.

On a side note they can get this information any way even if you do go stated. When you go to closing you will sign forms (4506 for tax info) which allows them to obtain the information from the sources.

You have to prove to them you have the ability to pay. The loan officer and/or processor isn't the one asking for it. It's the underwriter.

06-07-2009, 01:07 PM
onwebcam Fake Nick 1.0 Industry Role: Join Date: Oct 2005 Location: Rent free, your head Posts: 27,652	As an ex-mortgage broker I can say that you either prove your income or you get no loan. That is unless your credit score is superb and you can get a stated income loan. It's been years since I've been in but since everyone has been running around say that these type of loans (liars loans) were the problem (which they weren't) then it might be hard to find one. Even if you do you're going to pay a higher rate because of it. In most cases they can use either the bank statements or the tax statements. On a side note they can get this information any way even if you do go stated. When you go to closing you will sign forms (4506 for tax info) which allows them to obtain the information from the sources. You have to prove to them you have the ability to pay. The loan officer and/or processor isn't the one asking for it. It's the underwriter. __________________ PLEASE WAIT WHILE BIDEN ADMIN UNINSTALLS ITSELF..... ██████████████████▒ 99.5% complete. Last edited by onwebcam; 06-07-2009 at 01:09 PM..