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Why Do Mortgage Lenders Ask Borrowers For a CPA Letter
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You do not have to be an actual certified public accountant. You need to be a registered or licensed tax preparer with a state and you are able to have them do it. You can ask Jordan Threatt who is one of our preferred wholesale lenders @JThreatt and he will tell you what his experience is. @Kim Kim Lambert is an experienced veteran contract processor and @Angie_Torres is our ops director at GCA and they can give you their opinions on this matter. @Ali Aldiva, Inc. is our preferred business advisor for our team at GCA Mortgage Group.
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You are correct Gus. =}
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Christian Sorenson @Christian Sorensen handles most of our government loans at Equity Prime Mortgage and he did request a lot of CPA letters from our borrowers. I can ask Christian to fact check on how it works.
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Thank you Kimberly. On another note, there is no rush on the answer we are looking for about contract processing company needing to be licensed in a state if we are doing a loan via correspondent lending.
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Christian Sorenson @Christian Sorensen will attest to this but CPA letters are asked by mortgage underwriters of not just non-QM loans but also self-employed borrowers of government and conventional loans.
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HI Everyone,
Yes, any CPA can write a letter and a Third Party Certified Tax Preparer can indeed certify the letters. This is not a free service as the CPA and/or Tax Preparer is putting their name on the certificate. In addition, they can create a P & L if needed.
Hope this helps!
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I like to introduce you to Ali the owner and President of Aldiva, Inc. Ali has helped numerous borrowers at GCA MORTGAGE GROUP on credit repair, third party litigation services for consumers who were victims of credit reporting act violations self Employed borrowers who needs CPA letters, people who need to form LLCs and sub-chapter S corporations, homebuyers who need ITIN, and borrowers who need advice on getting approved for residential, business, and commercial loans. Contact Ali @Ali if you need any further information about her services. Ali please post your company information and contact information on this forum. Aldiva, Inc. is highly recommended and she goes above and beyond for all her clients.
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@Peter.gun Ali has recently helped one of my borrowers get qualified for a home loan where the creditor misreported his information on the credit bureaus. The creditor now faces a potential lawsuit for victimizing my borrowers
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