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Co Borrower IncomeExpand / Collapse
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Posted 8/29/2005 7:00:04 AM
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Last Login: 11/2/2006 7:35:07 AM
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Prior to 5.1 if a co borrower did not have income you would just leave all of the employment information blank and it would be ignored in LP.

Now if you do this you get an LP error message that is looking for income on the co borrower? If you just put a 0 in the monthly income on the LP side the findings come back with requirements for paystub, w-2 etc for the co-borrower.

After a lot of trial and error you must do all of the following to avoid getting the error message and get the correct LP findings:
enter 0 in years on work 
enter 0 in years at job
enter 0 in months at job
enter 0 in monthly income

The only apparent new feature is that when you submit a file to LP now you have the ability to "send to your sytem" . But this is not working properly- see my thread on LP Liabilities.

Also, when you now submit a loan to LP, you are in a restricted window which makes navigating within LP inoperable. Also the window does not allow you to cut and paste as well as other windows features.

5.1 so far is creating more work.

Post #359
Posted 1/4/2006 8:01:09 AM
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Is this still necessary in 5.2?
Post #1771
Posted 1/5/2006 6:26:24 AM
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Yes. As far as LP is concerned. Don't know about DO, I do so few thru Fannie.
Post #1828
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