Borrower Name
Marketing Rep
Loan Amount
Conventional Purchase
Closing Date
W2-INCOME
Use Previous 2 year end paystubs if possible prior to receiving VOE
Other INCOME
Must continue for a MINIMUM of 3 years after loan closings
Self EmpLoyed
Rental Income
Number of properties owned
Directions on how to document income or loss included on the 1038 form
Assets
Details of Transaction
Verify File
Espiration Date
***NOTES***
Collections and Charge offs
Follow AUS Findings for SFR; O/O not required to be paid off. 2+ units, Second Homes and NOO see guidelines
Collections Balance
Definition of Large Deposit
If aggregate total of ALL Non-Payroll deposits equals more than 50% of monthly income, the total of all random bank deposits must be sourced or will be subtracted from available balance.
401(K) Assets used for Transaction
Notes: If 401(k) Assets are to be used for Down Payment (or Reserves), collect from the Client Terms and Conditions of Withdraw, the Loan Note, copy of the proceeds check and Proof of Deposit into Checking along with a before and after the loan plan statement.
Student Loan Payments
For Conventional Loans, the amount showing on the bureau can be used with a IDR Letter to support payment. If in deferment or reporting a zero payment must obtain IDR Letter, use 1% factor OR calculate payment using calculator attached.