Effective immediately only Underwriters, Underwriting Managers, or Senior Management may sign off on 4506-T/IRS Transcript Results.  Each loan underwritten should have a PTC on the Approval showing approval by the U/W, U/W Manager or Snr. Mgmt. prior to final Approval/CTC. 

 

Additionally, before the loan funds, the Underwriter, Underwriting Manager or Snr. Mgmt. should sign off on the following PTF condition (to be inserted on all loans):  “MERS Check Complete”.  By signing off on this condition, U/W is certifying that they have checked MERS and compared properties owned (if any) against the REO on the 1003.  A copy of the MERS report should be inserted in ImageFlow under MISC – MERS.

 

Per the above email, the following conditions have been added to all U/W Approval Templates in GMOS:

 

PTC –Income information in file verified against 4506T results from IRS.

(**will not apply to an FHA/VA Streamline Refinance – in these cases, show condition as Waived, do not                remove)

 

PTF – MERS Check Complete.

 

If you do not have a MERS ID/Login, please send me an email and I’ll get you signed up and trained…it’s a very easy and quick process.