Unaccounted Paystub an Issue?

Home Forums Purchase Program Unaccounted Paystub an Issue?

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  • #50332
    frankysmom
    Member

    Brother had car issues so I gave him 2 of my small paychecks to take care of it. (He deposited/cashed it into his account) Before this, i have always put my earnings into my savings account. Will the now “unaccounted” for paystubs be an issue? If so, will removing myself as co borrower resolve this?

    I just started working in April of this year so my income isn’t being used to qualify just MRF.

    #50335
    Nelsont
    Member

    Possibly. The rule of thumb is if the transaction is over $100 and it’s not from your employer then it needs to be accompanied with a LOE and maybe even the canceled check or a signed letter from all parties involved.

    #50336
    frankysmom
    Member

    It wasn’t a transaction, I just handed over my checks to him so there’s no bank record or anything from my enend.

    • This reply was modified 1 year, 5 months ago by frankysmom.
    #50338
    Nelsont
    Member

    You might still want to letters drafted up explaining the situation and get the canceled checks. You may not need all this but at least you will be prepared.

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