Zillow Advice: Approval Process - No Tax Transcript No Problem!!! http://www.zillow.com/advice-thread/No-Tax-Transcript-No-Problem/514176/ Zillow Advice | Zillow Real Estate You must say what you mean ... http://www.zillow.com/advice-thread/No-Tax-Transcript-No-Problem/514176/ You must say what you mean and mean what you say, around here. This is not Trulia. BS will not be made into fertilizer. It will be turned into boomerang like projectiles. If you don't <em><strong>know, DUCK!</strong></em> Fri, 04 Oct 2013 23:48:00 GMT http://www.zillow.com/advice-thread/No-Tax-Transcript-No-Problem/514176/ 2013-10-04T23:48:00Z Actually, Fannie Mae has ... http://www.zillow.com/advice-thread/No-Tax-Transcript-No-Problem/514176/ Actually, Fannie Mae has never required&nbsp;tax transcripts (with special exception of requirement for the 5-10 property program) even before the shutdown the only requirement was to have a signed 4506T form in the file.&nbsp;&nbsp;&nbsp; <br/><br/>Lenders and secondary market overlays resulted in the execution of 4506T and obtaining of transcripts becoming standard procedure for all loans, for the last several years after meltdown this has always been a lender choice never a mandatory requirement.&nbsp;&nbsp; <br/><br/>The current "waiving" is merely waiving a lender overlay, not a Fannie Mae requirement. Fri, 04 Oct 2013 23:41:00 GMT http://www.zillow.com/advice-thread/No-Tax-Transcript-No-Problem/514176/ 2013-10-04T23:41:00Z &nbsp;Once IRS comes back ... http://www.zillow.com/advice-thread/No-Tax-Transcript-No-Problem/514176/ &nbsp;<em>Once IRS comes back online we will process the 4506-T and put in the files then.</em>&nbsp; <br/><br/>The details are in the devil Fri, 04 Oct 2013 23:26:00 GMT http://www.zillow.com/advice-thread/No-Tax-Transcript-No-Problem/514176/ 2013-10-04T23:26:00Z I'm pretty sure all lenders ... http://www.zillow.com/advice-thread/No-Tax-Transcript-No-Problem/514176/ I'm pretty sure all lenders are doing this, I know we are.<br/><br/>Although I don't think "waive" is the term you are looking for, more like postpone. To waive is to officially say you will not use or require something (according to Webster's), but you are saying you will indeed process the 4506-Ts, just not now.<br/><br/>You'll want to be clear on this forum or anything you post online as you could have a borrower who has a 4506 issue post-closing come back later and point to the fact you said it was waived.&nbsp; Fri, 04 Oct 2013 23:21:00 GMT http://www.zillow.com/advice-thread/No-Tax-Transcript-No-Problem/514176/ 2013-10-04T23:21:00Z If you actually read what ... http://www.zillow.com/advice-thread/No-Tax-Transcript-No-Problem/514176/ If you actually read what I wrote then you would have read that I stated very clearly that we are "waiving" the need to have 2 years tax transcripts in the file prior to closing and funding the loan.&nbsp; Once IRS comes back online we will process the 4506-T and put in the files then.&nbsp; We are doing this to stop the delay in loan closings due to the government shutdown.&nbsp; Our borrowers and realtors are very happy about this decision.&nbsp; Fri, 04 Oct 2013 22:47:00 GMT http://www.zillow.com/advice-thread/No-Tax-Transcript-No-Problem/514176/ 2013-10-04T22:47:00Z Not a SPAM bubble but thanks.&nbsp; ... http://www.zillow.com/advice-thread/No-Tax-Transcript-No-Problem/514176/ Not a SPAM bubble but thanks.&nbsp; We are closing Fannie, Freddie, FHA and VA without validated transcripts.&nbsp; Thanks for your response.&nbsp; Have a great weekend. Fri, 04 Oct 2013 22:38:00 GMT http://www.zillow.com/advice-thread/No-Tax-Transcript-No-Problem/514176/ 2013-10-04T22:38:00Z Well, it's not just you, ... http://www.zillow.com/advice-thread/No-Tax-Transcript-No-Problem/514176/ Well, it's not just you, this came about because Fannie Mae has made a policy change. Any lender can close without the 4506T should they choose to do so per <a rel="nofollow" href="https://www.fanniemae.com/content/announcement/ll1308.pdf">the latest directive from Fannie.</a><br/><br/>Sorry to burst your SPAM bubble.<br/><br/>It should also be noted that it's not a "waiver" of the transcripts as your post may lead people to believe, they are just temporarily allowing closings without them but they are still required per program guidelines prior to delivery to Fannie Mae. Fri, 04 Oct 2013 22:35:00 GMT http://www.zillow.com/advice-thread/No-Tax-Transcript-No-Problem/514176/ 2013-10-04T22:35:00Z