Common use of Borrower Qualification Numeric Clause in Contracts

Borrower Qualification Numeric. Integer 1 9 Always See Coding 1 = Not Stated, Not Verified 2 = Stated, Not Verified 3 = Stated, “Partially” Verified 4 = Stated, “Level 4” Verified (as defined) 5 = Stated, “Level 5” Verified (as defined) *For self-employed borrowers: L▇▇▇▇ ▇ Income Verification: • 2 Years Tax Returns • Self-prepared tax returns (regardless of 4506 and tax transcripts) ** For self-employed borrowers: L▇▇▇▇ ▇ Income Verification: • 2 Years tax returns • Tax returns prepared and not executed by a CPA, with o CPA name & phone number shown on the Preparer section of the tax return o Executed 4506 and tax transcripts (matching returns in file) • Tax returns prepared and executed by a CPA (regardless of 4506 and tax transcripts)