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Established Member
my_2_girls
Posts: 19
Registered: ‎04-09-2013
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Unreimbursed Employer Expenses & Mortgages

MY LO is requiring my 2010  2011 tax return transcripts and my current W2 ... during 2010/2011  I worked for an employer who did not reimburse for expenses such as mileage, use of vehicle, cell phone etc.  so I would claim that on my return along with other typical credits and deductions.  I would get a refund back of close to the amount I paid out in these expenses.  I have been with a new employer for a year now, where I do not have unreimbursed expenses.  I have filed our 2012 tax return and had unreimbursed employer expenses that were significantly less as it was the last bit from my previous employer. Will the UW take into consideration that those expenses were from a previous employer and I do not have that issue now or will I be stuck?? By leaving my old employerr my income increased 17k and I do not have those expenses.  My issue is we, as well as our builder,  have received our Commitment Letter before the LO has received our tax transcript, we sold our land to the builder so they could build and we are listing our house in a couple of months-  the builder broke ground this week! Really concerned this isgoing to fall through and we have so much invested into it!


Starting Score: 547 May 2012 645 Lender Pull Middle Score on April 1st, 2013
Current Score: 689 Oct 2013
Goal Score: 750... just for starters


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Valued Contributor
JM-AM
Posts: 3,302
Registered: ‎06-09-2010
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Re: Unreimbursed Employer Expenses & Mortgages

Since you should have submitted 2 years employment history, the UW should notice. In my experiences one of the conditions would be to write a LOE if it even comes into question.
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Established Member
my_2_girls
Posts: 19
Registered: ‎04-09-2013
0

Re: Unreimbursed Employer Expenses & Mortgages

MY LO asked for 2012 W2 and pay stubs from 2012 - I started my new job Dec 2011, so the W2 reflects my new pay.  The tax return however is 2010 2011 which reflects the lower pay and the unreimbursed expenses.  I have filed my 2012 tax return so I guess I could give them that and the LOE if necessary ... 


Starting Score: 547 May 2012 645 Lender Pull Middle Score on April 1st, 2013
Current Score: 689 Oct 2013
Goal Score: 750... just for starters


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