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July 16, 2012 In Blog, Lender Solutions

Student loans require verification process under new rules

Moving away from the business of mortgages, let us look into another area where for 4506-T comes into play. It is the education sector, specifically colleges. The U.S. Department of education selects random students for verification and according to the latest revision; they do not

July 9, 2012 In Lender Solutions, Blog

Will I face an Audit for filing Form 4506-T?

4506-Transcript form is a way for mortgage lenders to get insurance about the information you provide to them in regards to the previous year’s tax returns. Often the concern is, ‘Will filing the form raise any audit from IRS for previous year’s tax returns?’ Normally

July 2, 2012 In Lender Solutions, Blog

Can IRS delay your transcript even with a correctly filled 4506-Transcript form?

According to the current rules, a mortgage lender cannot approve a loan without verifying a customer’s tax information, received after submitting the form 4506-T. Any discrepancies with the filing can cause a delay for the lender and eventually for the borrower, which is not a

June 25, 2012 In Lender Solutions, Blog

What Borrowers Should Know about Form 4506-T

The form 4506-T is an important part of the mortgage world. This form helps keep any type of mortgage fraud in check, which in turn helps balance the economy. The 4506-T enables lenders to request the IRS for a borrower’s tax return details for the

June 18, 2012 In Lender Solutions, Blog

Lender’s Guide to Form 4506-T

The 4506-T is a request for tax return transcripts from the IRS. After the housing market crashed, Fannie Mae has made it mandatory for lenders to verify a borrower’s claim to income. Lender could have the applicant sign form 4506-T before or at time of

Lender Solutions | Blog

Student loans require verification process under new rules

Will I face an Audit for filing Form 4506-T?

Can IRS delay your transcript even with a correctly filled 4506-Transcript form?

What Borrowers Should Know about Form 4506-T

Lender’s Guide to Form 4506-T

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