​Government Shutdown Should Have Minimal Impact on Home Loan Modification Reviews

  • 10/07/2013

Lenders have always been required to obtain a 4506-T transcript from the IRS before issuing a new mortgage or loan modification.  Because of the government shutdown, the IRS is not currently processing 4506-T transcript requests.

The good news is that most major financial institutions have enacted temporary policies that allow them to move forward with processing mortgages and loan modifications without the 4506-T transcripts.  Find out more in this article by Rob Chrisman: http://www.mortgagenewsdaily.com/channels/pipelinepress/10032013-4506-t-tax-transcripts.aspx