SUBJECT: 2022 Income Document Requirements
DATE: January 23, 2023
REMN Wholesale’s policy for receipt of 2022 income forms can be found below. This guidance is applicable for all loan products that require income documentation.
2022 W2/1099 FORMS
- Loans with a NOTE date of 2/1/23 or later will require the 2022 W2 and/or 1099 form(s) when the AUS findings or program requirements for a manually underwritten loan requires “the most recent” W2 and/or 1099
- REMN Wholesale will consider case by case exceptions if the borrower has not received their 2022 W2/1099 form by January 31, 2023
- Loans with a NOTE date of 1/24/23 where the AUS findings or program requirements for a manually underwritten loan requires “the most recent” tax return must follow the below:
- The Borrower(s) must provide and be qualified considering the 2022 1040 tax return –OR
- Sign the Income Attestation form at closing, verifying 2022 tax returns have not been filed
- The Income Attestation form is available at www.remnwholesale.com under General Forms for Emerging Bankers who do not utilize REMN for closing document preparation
This policy applies to all pipeline loans.
**Please contact your Account Executive with any questions**