The VA Documentation Guideline feedback messages will assist you in validating information transmitted to Loan Prospector. These messages appear on the Feedback Certificate in the Loan Processing Information section, Documentation Guideline subsection.
Updated: November 2011
Code
VA Documentation Guideline Feedback Messages
AC
Depository Accounts: Obtain most recent statement(s) for each account to verify sufficient funds required to close.
AD
Funds Required to Close: If down payment and closing costs are greater than 4% of appraised value, verify source.
AE
Funds Required to Close: Verify source of funds for down payment and closing costs.
AF
Depository Accounts: Obtain most recent 2 months statement(s) for each account to verify sufficient funds to required to close.
AP
If more than 7 months have elapsed since business tax year ending date, and income to self-employed borrower, {self-employed borrower}, from each individual business, is greater than 5% of his/her stable monthly income, obtain balance sheet and YTD P&L statement.
AQ
If applicable, provide an explanation for employment gaps greater than 180 days.
AR
If applicable, provide an explanation for employment gaps greater than 30 days.
AS
Obtain most recent YTD paystub documenting 1 full month earnings to verify current employment for {employed borrower}.
AT
Not on Active Duty: Obtain most recent 2 tax years W-2(s) to verify current and previous employment for {employed borrower}.
AW
Not on Active Duty: Obtain verbal VOE to verify current employment for {employed borrower}.
BH
If using alimony/child support income to qualify, obtain most recent 3 months bank statements or canceled checks or court payment record and evidence of 3 year continuance.
BY
Not on Active Duty: If borrower receives commission income greater than 25% of his/her annual income, obtain most recent 2 years signed individual federal income tax returns and consider business expenses in underwriting.
CD
Sale of Home: Obtain executed HUD-1 or equivalent closing statement. If relocation, obtain executed buyout agreement (evidencing mortgage will be paid by employer/relocation company) and closing statement.
CE
Reserves: Verify all reserves submitted to Loan Prospector.
DN
Obtain most recent 2 years signed individual federal income tax returns for self-employed borrower {self-employed borrower}.
This loan qualifies for REFER Loan Prospector documentation requirements.
FE
This loan qualifies for ACCEPT Loan Prospector documentation requirements.
G9
Lender is responsible for documenting any situation not addressed on this feedback certificate according to the VA Lender's Handbook.
MX
If income to borrower from an individual business is greater than 5% of borrower's stable monthly income, obtain most recent 2 years signed federal business tax returns for each business for self-employed borrower, {self-employed borrower}.
