We are in the final stages of what I thought would be a very simple mortgage refinance. We used the same lender who has had the loan for several years, our appraisal was fine, credit excellent, my husband has been employed by the same company for 20years, etc - we were just going for a lower rate. There have been multiple mistakes by the the lender, but we are finally ready to close after almost 4 months. Because of their mistakes, they have extended the rate 2 times already. The last item to be satisfied is employment verification. No problem for my husband. I have a very small income from a business partnership (LLC). The lender never questioned the income amount - it really shouldn't have effected our qualification, so I don't think they bothered. Now they want a CPA letter to verify my self-employment. I do the taxes for the partnership, so I do not have a CPA. Any CPA that I asked, had a problem verifying something for a person who is not their client, in a situation they have no knowledge of. I have provided our EIN #, along with my Schedule K, and some of the business tax paperwork that shows the business name, IEN and all of my information. I would tell them to pull out that income and not consider it for the loan, except I am pretty sure that they would then have to re-qualify us. If we cannot take care of this within the next day, even though the bank only asked us for it yesterday, they are going to use it as an excuse to charge us to extend the rate lock, by saying that the loan didn't close because we didn't provide the correct documentation. Any suggestions - other than find a CPA who doesn't care & will just sign something saying that I am an active partner in this business?

Same deal for me, except I haven't found a CPA who will even look at my tax records.  Were you able to resolve it in any way?

If the self employment income is not being used to qualify for the loan, then nothing should be required from a CPA.  If the income is being used, what you provided should be ample.  I have always only had to use some sort of public listing (yellow pages, internet ad, etc) to prove that a business still exists.

If the income is not being used to qualify it should be easy to remove it and close. This should not delay things...if the income is being used to qualify you will have a problem as the CPA letter is a very typical requirement and is unlikely to be waived.

yes, i have program no need to verify, if you have questions let me know

You can provide them with a copy of the LLC showing you as a partner along with the articles of Incorporation and also tax returns showing them your share. If you have any other questions you can contact me at akmortgageservices@msn.com or at (714) 654-5925.

Nick Pandya