HomeBridge is updating its tax return and tax transcript requirements as the 2012 tax filing deadline approaches. This policy applies to both conventional and government transactions, including manually underwritten loans. This policy applies to loans currently in the pipeline.
Loans funding on or after April 16, 2013 where 2012 tax returns were used for qualification will require the following:
- Evidence the borrower filed their 2012 tax return, or
- Evidence that an extension has been filed. A copy of the extension is required.
This policy only applies when tax returns were used to qualify the borrower; it does not apply when only paystubs and/or W-2s were used to document income.
As a reminder brokers are responsible for ordering tax transcripts from RealEC® by using the Express 4506 link on the HomeBridge website.
NOTE: Even when the 2012 income was not used for qualifying the 2012 transcript must be ordered as the transcript result showing “No Record Found