Full Doc Minimum Income Submission Requirements

Due to the ever changing regulatory and secondary market Rate is adjusting our standards for minimum income documentation in all loan files.  In order to ensure that we are delivering saleable loans, Rate will now be requiring the following documentation on all loans that receive a verbal verification of employment only in DU or LP:

• W2 Borrowers - Most recent pay stub or a full written VOE.
• Self Employed - Most recent one yr. tax return.

We appreciate your support helping Rate continue to deliver high quality loans to our investors.

Please feel free to contact your VP of Wholesale Lending or the Commitment Desk for further clarification if needed.

 

Thank you for your continued business!!