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hpt3256 said:   To those who responded, thanks a lot for the info.
To those who gave red to the question, congrats on being such dutiful lemmings, I also have a bridge to sell you, PM me with your birth certificate and SSN for details... everyone else is doing it.


Then tell them to pound sand and don't bother asking anyone for advice. Don't complain to us if they don't give you a loan as we will tell you to go pound sand.

What happens if you have a big loss from your business? If you have a big loss, it will be deducted from your gross income. The lender can take your word for it that you are not self-employed or pull the tax returns. They won't take your word for it, so thus the need to show tax returns.

wow we are getting quite a few stupid newbies lately...

OP you are asking a bank to lend you money. If you don't want to provide your tax returns then just say no. They don't have to lend to you either.

Forgive me. I'm one of those dumb newbies. A friend of mine is trying to refinance her home. On appraisal it was noted that she needed a new roof. I purchased the material and we re-roofed her home. The underwriter wanted copies of the receipts so she provided them. Then they wanted a letter stating the cost of supplies was a gift. I provided that. Now they want a copy of my banking statement to prove that it isn't one of her accounts. I refuse out of paranoia and thoughts of conspiracy theories. Can they really ask for financial information from a non-applying party???

I don’t think that the lender has asked for something which they shouldn’t have. Every lender has the right to check your tax returns before they give you the loan. If you wish to successfully complete the deal, then it will be better to provide the lender with your tax returns for the last 2 years.

katara said:   Forgive me. I'm one of those dumb newbies. A friend of mine is trying to refinance her home. On appraisal it was noted that she needed a new roof. I purchased the material and we re-roofed her home. The underwriter wanted copies of the receipts so she provided them. Then they wanted a letter stating the cost of supplies was a gift. I provided that. Now they want a copy of my banking statement to prove that it isn't one of her accounts. I refuse out of paranoia and thoughts of conspiracy theories. Can they really ask for financial information from a non-applying party???
They can ask for anything they want, it doesn't mean you have to give it to them, but it also doesn't mean the friend will get the refinance.
Technically I think they just need a withdrawal slip or canceled check from you.

hpt3256 said:   I'm applying for a mortgage and am being asked to request that the IRS send my last 2 years' tax returns to the lender.

  • I am not, never have been, self employed.
  • I've provided W-2s and bank statements that are beyond sufficient for the ratios.


Is this going too far? There's no use for the tax returns in underwriting my loan. Would you tell this lender to pound sand? What's the weirdest privacy-invading request you've gotten from a mortgage lender?


I would tell them to pound sand, and just pay cash for the house. That should surely teach them a lesson for invading your private financial matters!

katara said:   Forgive me. I'm one of those dumb newbies. A friend of mine is trying to refinance her home. On appraisal it was noted that she needed a new roof. I purchased the material and we re-roofed her home. The underwriter wanted copies of the receipts so she provided them. Then they wanted a letter stating the cost of supplies was a gift. I provided that. Now they want a copy of my banking statement to prove that it isn't one of her accounts. I refuse out of paranoia and thoughts of conspiracy theories. Can they really ask for financial information from a non-applying party???She has a new roof. She can now go with a different bank.

LukFilm-

How do you know PenFed didn't involve the IRS? I'm thinking about applying with them. Were your W-2's "accurate".. or?
I am self employed and unfortunately my w-2's don't reflect much of anything, so I need to find a way to get approved. My credit score isn't very high 640, I believe.



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