Questions and Answers
What types of documents are considered credit documents?
Credit documents include credit reports and employment, income, and asset documentation.
What is the allowable age of credit documents for all mortgage loans?
The credit documents must be no more than four months old on the note date.
How is the age requirement determined when there are consecutive credit documents?
The most recent document is used to determine whether it meets the age requirement.
What must the lender do if the credit documents are older than allowed?
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Is there an age requirement for federal income tax returns mentioned in this document?
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