Friday, September 29, 2006

Automating 4506-T Form application

Head over to and I saw a story on a new automated process for income verification. Anyone want to guess how long until MBS buyers *require* this. The best comment I saw is that brokerages *need* people to buy their Mortgage backed securities. MBS buyers don't need mortgage brokers; there are other places to invest.

While this will take a few months to change the rules (maybe as much as a year...), this will end the practice of no-doc "liar loans" pretty quickly.

Original link:,0,5083108.story


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