November 5, 2019
Re: Conforming Underwriting Guideline Amendment
We are announcing a revision to our tax transcript requirements for Conforming Mortgage Loans. This update is effective for Conforming Mortgage Loans locked on or after September 24, 2019, and will be included in an upcoming guideline release.
While all closed loan files sent to AIG Correspondent Lending for purchase consideration must contain a signed 4506T; we will accept files without tax transcripts for any of the below scenarios:
If a file does not meet the above criteria, or contains secondary income which does require tax returns, the Seller must then request and include the most recent year’s 1040 IRS tax transcript and business tax transcripts (if applicable) corresponding to each year of tax documents in the closed loan file. Transcripts must be obtained by the Seller directly from the IRS or Transcript Vendor.
Please contact Shane Larscheid, Vice President of Sales with specific questions related to this announcement.