Mortgage Grapevine poster Eminem has a borrower with a tough problem regarding sources of income. For 2011 and 2012, the borrower filed both a Schedule C and also had W-2 income. Because of the W-2 position, which the borrower no longer has, annual income from the self-employed business has been reduced.
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While the automated underwriting system is asking for just one year of tax returns, it is also asking for more income to approve the borrower.
Eminem asks, “Are there any lenders out there that would use the average of 2012 and year-to-date 2013's audited financials to qualify this borrower?” To see the replies, go to
