Primary Residential Mortgage Will Waive Tax Transcript Requirement During Government Shutdown to Avoid Closing Delays
John Thomas
October 4, 2013
Tags: Government Shutdown, Tax Transcripts
Primary Residential Mortgage, Inc. will waive the Tax Transcript Requirements during the Government Shutdown to avoid delays in closing loans.
In response to the possibility of a prolonged government shutdown because of the budget impasse in Washington, D.C., the Primary Residential Mortgage Executive Team has made the following decision, effective immediately, in regards to helping our customers:
- The requirement having two years validated tax transcripts in the loan file prior to closing will be waived. However, the file must include two years federal tax returns signed and dated by all borrowers prior to closing, and the 4506T must be completed in full and signed and dated by all borrowers
- Underwriters must review these documents and will add condition #19 that states:
- Due to the government shutdown, we are unable to obtain the required 4506T transcripts. The following is in the file:
- Two years federal tax returns signed and dated by all borrowers.
- 4506T signed and dated by all borrowers.
- It is acceptable to close the loan without the transcripts during the government shutdown.
If have questions or concerns about qualifying for a mortgage to purchase or refinance a home, please call me or my team at 302-703-0727 or you can apply online.
