Essex will continue to fund loans
Income Verification and Social Security Number Verification
Effective immediately, Essex will require tax returns for all borrowers with income (not applicable to FHA non-qualifying streamlines and VA IRRRL’s) to identify potential 2106 expenses, multiple properties owned and self- employment. Essex will continue to require signed 4506T at initial submission and at final documents. Essex will require evidence any federal income tax due the IRS has been paid (cancelled check) for the most recent tax year filed. Essex will obtain 4506 transcripts after once the government shutdown is over.
Exceptions to this policy: 5-10 Financed Properties loans will require processed IRS transcripts prior to funding (excluding DU Refi Plus)
Social Security number verifications will still be required if underwriter is unable to validate & signed SS89 should be submitted.
Essex will allow loans to government employees to fund without verbal VOEs if we are unable to verify employment. Essex will complete verbal VOE’s after the shutdown is over.
This is a temporary measure and we reserve the right to change this policy at any time. Essex standard policies will apply immediately after the government has resumed operations. Should you have any questions, please contact your department manager.