Prefer to talk in person? Find a mortgage specialist on Zillow
Profile picture for user6830156

Underwriter suspended loan for employment Gap - Help !

Me and my Wife are under a signed contract for the next 15 days. We did the inspection on the house and moved on to the next step- Loan process ! Now the underwriter suspended the loan saying there is a 2 month gap in employment. Me and my wife both work in retail for over 2 years. She has been in the same profession , however she had to quit for traveling oversees to see her parents and got re-hired with the same company. Her hire date does not show the original date but her paystubs and W2s do. Her employer isnt co-operating good. All they give is just the 800# to call for the lender , however that does not explain the amount f hours she is going to continue to work. what can we do about this ?
  • September 04 2013 - O'Hare
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (7)

Profile picture for Matt Laricy
Well if there is no proof, there may be trouble. Is there pay stubs to prove it?
  • September 04 2013
  • 2Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

I would say, but confirm with the lenders under writer, what Matt said. See if there are paystubs showing the employment time and more so usual some sort of letter of explanation from your wife and the employer "should" work. It depends on how conservative your lender is and what they will except documentation wise.

As far as the number for the lender to call try and have your wife get the direct number for the payroll department or HR worse case. they should be able to assist.

Good Luck!
  • September 04 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Depending on the Underwriter, you should be able to get a letter of some sort from the employer-  Has your wife been at the same location?  If so, what about having the same manager...?? 

I would attempt to have the Manager type up a letter, explaining the "gap" and why it occurred and that when your wife returned, they simply hired her back into the same position.

I would also, type up a "LOE" or Letter of Explanation, from your wife, explaining the entire situation-

Sometimes the Underwriter just wants to know what the heck is going on or happened...

Good Luck!
  • September 04 2013
  • 2Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

This is a speed bump but should not be a deal breaker.  Your mortgage originator should be able to assist you in creating as letter of explanation and assist in collecting supporting documentation.  At the end of the day the underwriter needs to understand the situation and properly document the loan file.  This is not a terribly uncommon situation and while it is a speed bump I predict you can move past this.  I am happy to help or make further suggestions if you would like.  Feel free to email me or call.

Best
Jay B Levitt
[self promotion deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]
  • September 05 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

I don't understand. Do you mean the employer is NOT completing the Verification of Employment correctly? Meaning they didn't list the original hire date, hours worked, and most likely to continue?

A gap of employment should have been address upfront with a LOE, shows me the LO and the Processor are Rookies. With any sales position, you will need a 2 year work history. If you are lacking the two requirement, you are in trouble.

That is unless you can go back in time and string together a 24 month work history using previous employment.
  • September 05 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for user6830156
The manager was always the same . However, she has been asked not to write anything as it would be taken as a guarantee of hours they have to give. 
Also, I am working it through the LOE and lets see how it goes.I have extended the contract period. The paystubs show the no. of hours she has worked always with them, But she was a full timer before the gap and they hired her verbally promising to give 28-32 hours every week which she has been getting but the manager is not ready to write it. 

Thank you all
Any other suggestions are welcome please
  • September 15 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

 I might be able to help you with a loan approval.  We can get one from the lender with 24-36 hours. Please give me a call or send me an email. 

We work with over 30 lenders and have an A+ BBB rating!

I look forward to helping you.

Best regards,

Patty Harrison
Smart Mortgage Centers
  • September 25 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.