![]() The information must be complete and legible. The documents must clearly identify the borrower as the employee. Documents must clearly identify the employer’s name and source of information. Alternative documentation, such as an IRS Wage and Income (W-2) Transcript, a written Request for Verification of Employment ( Form 1005) or the final year-to-date paystub, may be used as long as adequate information is provided.ĭocuments must be computer-generated or typed by the borrower’s employer(s), although paystubs that the borrower downloads from the Internet are also acceptable. ”Most recent” W-2 is defined as the W-2 for the calendar year prior to the current calendar year. The W-2 forms must clearly identify the borrower as the employee. IRS W-2 forms must cover the most recent one- or two-year period, based on the documentation requirements for the particular income type. Paystubs must comply with B1-1-03, Allowable Age of Credit Documents and Federal Income Tax Returns. Additionally, the paystub must include sufficient information to appropriately calculate income otherwise, additional documentation must be obtained. The paystub must be dated no earlier than 30 days prior to the initial loan application date and it must include all year-to-date earnings. The following table provides requirements for documentation provided by the borrower. ![]() Employment Documentation Provided by the Borrower ![]()
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