WHAT IS A 4506T? BROUGHT TO YOU BY UNITED HOME MORTGAGE CENTER & Nicky Chambless

The 4506T is what the Lender uses to confirm what was actually Filed with the IRS. Why do Lenders have it signed by borrowers? 1) Borrowers can provide a copy of their 1040's or 1120's to a Lender that was prepared by a CPA or any tax prep company and never even file that return. That return may appear to show the Borrower claims more or less deductions, etc. The real tax return that is filed is what the 4506T will confirm. Why do lender initiate the 4506T? They are more comfortable having another resource to turn to show their Investors that the Borrower in default performed due diligence. The mortgage industry has taken an enormous hit and every Lender in this county is being affected by it. Expect the loan processing to be extremely scrutinized