1 years worth of paycheck stubs

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  • #42189

    shera830
    Member

    My MC reported we was denided by underwriting because they want us to submit 1 years worth of paycheck stubs and bank statement. Has anyone else experienced this and why do they need 1 years worth of paycheck stubs when we had to turn in 2 years worth of IRS transcripts.

    Any help would be helpiful, thanks

    #42213

    TTrumble
    Member

    Hello shera830,

    Paystubs and tax returns/transcripts can actually tell very different stories when it comes to income and cash flow. That having been said, I have never heard of a request for a year’s worth of paystubs and wonder if something was miscommunicated somehow. A year’s worth of bank statements is standard in some cases, especially self-employed or employees who receive a 1099 instead of a W-2 at the end of the year.

    Check back with your counselor to make sure everything has been clearly understood.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

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