Posted by Max-Va on March 14, 2007 at 05:05:09:
It is a way to prove loan fraud with stated loan programs. If you state 60K a year and tax returns show 25K you comitted loan fraud.
But to answer your question, some lenders do and some do not. If you are in default, I believe, it is common to have it happen
IRS form 4506-T, Do lenders really pull this? - Posted by JP
Posted by JP on March 13, 2007 at 23:29:53:
When completing mortgage loan docs, one of the sheets are the IRS 4506-T requesting tax return transcripts. Do the lenders always request this? Do they actually pull this from the IRS, or only if you are in default?
Re: IRS form 4506-T, Do lenders really pull this? - Posted by Dave T
Posted by Dave T on March 14, 2007 at 09:18:01:
A certain percentage of the lender’s loans are internally audited each year. If your loan is selected for a quality compliance audit, then a transcript will be requested to verify the information you provided on the loan application.