Posted by MB/CA on 7/16/05 1:24pm
Msg #52674

Pay Stubs?

I just got a loan package and on the "Loan Document Work Sheet" and "Addendum To Closing Instructions", they ask for pay stubs from the borrowers from the last 30 days, and written verification of employment -coborrower: 6 months with employer. They also ask for the following: VOM with 12 month history with no more than 0X30 thru funding. My question is
1. Should I assume that the lender has already gotten the pay stubs and the letter proving employment of the coborrower for the last 6 months?
2. What is VOM and is it anything I have to worry about?

Thanks

Reply by patti-ca on 7/16/05 1:55pm
Msg #52676

These look like items that need to be in the file prior to funding...usually the processor gets thme VOM=Verification of Mortgage. VOE=Verification of Employment. If you are unsure, ask the company who hired you (SS, TC, Lender)

Reply by NY_TaxLady on 7/16/05 2:38pm
Msg #52679

They usually have faxed the paper work to lender already. Mine wanted last 2 pay stubs inclosed wioth package.

Reply by Sylvia_FL on 7/16/05 4:07pm
Msg #52683

Those aren't the instructions for you