Loan Documentation Flashcards
1
Q
employment verifications for any loan amount are verified verbally (T/F)
A
true
2
Q
What two pieces of information are required for salaried employees income verification from $0-350,000?
A
Current personal financial statement/application (within 12 months)
Current paystub or W-2 (within 6 months)
3
Q
What additional piece of information is required for salaried employment income greater than $350,000?
A
2 years tax returns
