Real Estate Question
 

I’ve got a friend who is coming upon year three pay, and he is within days of closing on a personal home. At the last moment, the underwriter wants more proof of income. I’m guessing they’re likely nervous after seeing his year one/two pay. He has already sent them his pay statements and the pay tables, but the lenders want more proof of future income. Something with the amount, company info, and his personal info on it. Does anyone have solutions that have worked previously?

Thanks.

Has he already gone through DLnet > self service > employment and wage verification and generated a report? I had a similar situation and this was enough.

I've used the contract references that show my payrate and min/reserve guarantee. Seemed to satisfy the underwriters.

I would start by tabbing the PWA like an FAR for a checkride and show-me-like-I'm-a-7th-grader explanation of how 3rd year payrate * min guarantee = X

Maybe also base/seat and furlough protections

I believe he has.

Tell him to call Trident Home Loans in FL. If you want the name of a DL pilot who works there, shoot me a DM and I’ll pass his name along, but all of them are good.

Thanks. If it falls through, I’d imagine that’d be the next step, using an airline friendly lender/broker.

I know others have recommended citing the PWA, which I would absolutely try but just an anecdote from my experience:

I went through PenFed and the people that did my mortgage didn't wanna see the PWA. I even sent them a PDF of our pay tables but they said no too, even though it would've answered all their questions. I had jumped from year 1 to year 2 right as the new contract hit and they were "suspicious' about my drastic pay raise. Only thing that worked was providing more pay stubs.

If you're deailing with people who won't see reason,
it's often low paid flunkies who follow a cookbook. You gotta
somehow get to the next level. Having a lawyer make contact will often help that.

Pay some dude $200 to write a "I represent FO Dooright and wish to direct your attention to document XYZ"
The flunky will see lawyer and punt to someone with more brains and power

Why does this read like an ACARS message