Tag: work history

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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