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If we have a borrower that has provided the lender two years of W-2s/Tax Returns and a current paystub, is this considered enough proof for the verification of employment requirement in App. Q or does a form need to be completed or a phone call made to the employer to try and verify employment? If the employer won’t verify, does the lender just document and move on or does this hold up the closing?
In addition, if the bank is receiving a borrower’s social security income through direct deposit into a deposit account, is the borrower required to provide the “award letter” from social security or is the direct deposit considered enough proof of this type of income?
Thanks! Kelly
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