Unaccounted Paystub an Issue?

[frankysmom]

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.

[Nelsont]

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.

[frankysmom]

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.

[Nelsont]

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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