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Originally Posted by GLOAT  I agree, in part. There are some exceptions though, per example this particular file:
15 years in the same industry, but 4 months on the new job. Hourly Rate is $11.00 per hour, but client will receives 8 hours OT per week, which is an extra $572/month. Is it, in your opinion, unethical to:
a. Inform client they must wait un until they have a full year's history of OT
b. "State" the income to reflect the OT
c. As oppose to being a "Loan Officer", be a "Salesman" and sell my client on a product/program from a Lender who will use a current stub w/the OT, but even on a "full doc" loan can't compare to another Lender's "Stated" product/program.
Such a thin line......... |
Go full doc with a letter from his employer that says the employer GUARANTEES that over-time pay (since that's what you're wishing is the case), and an underwriter will like that much better than you suggesting to the customer to "fudge" ... and stick with the 90% MAX submission.