Common use of Transcript Requirements Clause in Contracts

Transcript Requirements. o W-2/1099 transcripts will not be required for a borrower when all income for that borrower is derived from W-2 wage earner and/or 1099 fixed income sources. o Tax transcripts are required in the following circumstances: ▪ When tax returns are used to qualify a borrower. The number of years provided must be based on the AUS findings. Income verified via tax returns includes but is not limited to the examples listed below: • Self-employment income • Other income sources (i.e.

Transcript Requirements. o W-2/1099 transcripts will not be required for a borrower when all income for that borrower is derived from W-2 wage earner and/or 1099 fixed income sources. o Tax transcripts are required in the following circumstances: ▪  When tax returns are used to qualify a borrower. The number of years provided must be based on the AUS findings. Income verified via tax returns includes but is not limited to the examples listed below: • Self-employment income • Other income sources (i.e.