"Bob V-G said: “No conventional Lenders will fund your loan without a 4506-t being executed. Try Private money.” Ok. Let me ask a more specific question. Are there lenders that will execute the 4506-T with just box 8 checked. That is, if I provide a W2 to qualify on (and the lender agrees that that income is sufficient to qualify for the loan), will a lender (conventional (or local bank if it is not considered conventional) just seek to verify the W2 by requesting only box 8 of the 4506..."    View Post

"Scott said: “I understand a lot of your arguments, but it seems like you're enjoying debating why this rule should be changed. Yes, there are a lot of rules for home financing that i don't agree with and that i think are over the top and unnecessary. But the matter of fact is that you need to disclose all your income, even if you qualify with less. Find a way to help your borrower sure, but you're not going to change the rules on this forum. It's not a person's natural born..."    View Post

"Eric said: "Times have changed and if people expect a bank to lend them $100's of thousands to them that they need to be open regarding their finances." The question of course is how open. Do you (or anyone) disagree with the premise that if a lender is willing to qualify someone based on 100K of W2 income alone (again debts are disclosed on the loan app.) than an additional 50Kof income that is not part of that underwriting decision should be disclosed? Even if that income is a spouse..."    View Post

"Thanks everybody. To close the loop: Thanks Mike King. That’s the type of informed response I was looking for. Appreciate it. Curt said: “my guess is that the issue you are trying to avoid is showing some other source of income that you would rather not be required to show...such as rental losses, biz losses, farm income (oh that's right, then the u/w will think they're lending on a FARM) You’re guess is partly correct. I am trying to avoid disclosing income that is in excess..."    View Post

"Thanks for the responses Troy and Scott. Troy said: So, with all these posts, it looks like you were asking two things: Are 4506-T's required by Fannie/Freddie? No, but most likely required by the lender. Do I know of anyone that will not require the 4506 and put it in writing? No, not a single one. Maybe someone else here does?? 1) Thanks. That's my understanding. Lender discretion on the 4506-T. Fannie has some loan types where it requires a 4506-T, but not mine. 2) It doesn't have..."    View Post