Non-working Co-borrower

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Non-working Co-borrower

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Alliebelle

Posted 12/28/2005 5:32:37 PM

Junior Member

Group: Forum Members
Last Login: 4/23/2008 3:10:06 PM
Posts: 14, Visits: 64

I have a feeling I'm missing something obvious, but I can't figure it out. I've tried using the new LP interface a couple of times and the main problem I'm having is with unemployed co-borrowers. Mainly working husbands whose wives stay at home. When I use the new interface and get into LP, it makes me enter an income amount and answer yes or no in the self-employed box for the CB. Then my findings are asking for income docs for a CB who doesn't even work!

The old interface never had a problem with this. Am I doing something wrong?

Post #1681

szaino

Posted 12/30/2005 6:56:31 AM

Forum Member

Group: Forum Members
Last Login: 11/2/2006 7:35:07 AM
Posts: 39, Visits: 136

Prior to 5.1 this what not a problem, now with 5.1 (and it looks like 5.2 hasn't corrected it) you need to do the following so that LP doesn't look for income , paystubs, w-2's etc.

1. In the COB employer info you must enter "0" for years on job, months on job, years on work
2. in the COB base income you must enter "0"

Post #1713

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