Tag: work history

Minimum Work History & Prior Work History as a Missionary

Question: I have a client with outstanding credit. He left the country for 9 years for missionary work. He has been back in the US working 1.5 years full time now. Is there any way he can use the mission work as work history? Or should we look at FHA with their flexibility?  MC – […]

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Formerly Self-Employed – Returning to Workforce – Work History Rules

Question: My client was self-employed for about 3 years and returned to work as employee in January of this year.  I have no W2, so how do I document his work history?  MC – Employment History Chart – All Agency Guidance Answer: Here are some basic principles you could expect to see (for sure you […]

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FHA Work History Prior to an Absence

Question: My client has been a W2 employee for one year, and previous to that she stayed at home with her new baby.  Underwriting is saying that if there is a gap of 6 months or more, I need a full two-year work history prior to the time she stayed home.  Is that right? Mortgage […]

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How do I establish probability of continued employment for a Veteran who has 5 years of military service and is recently employed as a civilian?

Answer: VA requires additional analysis on the employment of a recently discharged veteran. (See guideline below.) Your underwriter may ask for a letter from the employer to document the file to show that this was done. Reference: VA Lenders Handbook Chapter 4 Analysis of Prospects for Continued Employment Cases involving recently discharged Veterans often require […]

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