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Wrong ss# on 2013 W-2 Form. Underwriter won't approve the loan

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ezdriver
Senior Contributor

Re: Wrong ss# on 2013 W-2 Form. Underwriter won't approve the loan


@StartingOver10 wrote:
Underwriters are trained to look for certain items that indicate fraud and a mistake in the SS number provided on the W2 is a red flag. You will need to get this straightened our first so that the W2 shows the correct SS number. It would be a red flag to any mortgage lender.

I agree completely. I am shocked that the tax preparer did not ask for a corrected one at the time the tax return was files. Unbelievable!

Message 11 of 17
Anonymous
Not applicable

Re: Wrong ss# on 2013 W-2 Form. Underwriter won't approve the loan

Yes, IRS asked us to send them paystubs. And it was fine.

Message 12 of 17
Anonymous
Not applicable

Re: Wrong ss# on 2013 W-2 Form. Underwriter won't approve the loan

So, I contacted his former employer and they agreed to make the correction. They will have to make W2c form that will show information that was wrong and correct information. And it takes around 10 business days. But there is no way they can just print new W2 form Smiley Sad.

 

I hope it will be enough for the lender. But even if we go with the new lender they will start wondering why did this happen. I don't know what to think anymore.

Home buying process is so stressfull...

Message 13 of 17
Lemmus
Established Contributor

Re: Wrong ss# on 2013 W-2 Form. Underwriter won't approve the loan

...that's good news ...hope all goes well with the new lender ...and once you've filed the corrected W2 be sure and check his SSA records to see that its been properly credited to him ...much easier to fix now than years down the road,


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Message 14 of 17
Anonymous
Not applicable

Re: Wrong ss# on 2013 W-2 Form. Underwriter won't approve the loan

Now when we get his  W2c form, will it mess up our loan with the new lender if current one refuses to do it? I found out online that wrong ss# is a red flag for underwriters. Would it still be a red flag if we provide the correction?

Message 15 of 17
frugalQ
Valued Contributor

Re: Wrong ss# on 2013 W-2 Form. Underwriter won't approve the loan

Why go with a new lender if you are fixing the issue?

Talk to your LO tomorrow and see if the underwriter will accept the W2c. If they will accept it, just continue on.
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Message 16 of 17
StartingOver10
Moderator Emerita

Re: Wrong ss# on 2013 W-2 Form. Underwriter won't approve the loan


@frugalQ wrote:
Why go with a new lender if you are fixing the issue?

Talk to your LO tomorrow and see if the underwriter will accept theW2c. If they will accept it, just continue on.

FrugalQ, it may not be an option available to the OP.  Once the error was discovered by the u/w the OP will probably have to go to a new lender. IDK. But it is a pretty big deal having a SS# discrepancy that wasn't picked up for a couple of years.

Message 17 of 17
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