Navigate to the eFolder and view the borrower’s tax returns (placeholder = Tax Returns w/ Schedules) and the 4506T Form (placeholder = IRS 4506T – Request for Transcript of Tax Return)
Compare the two documents and ensure that the EXACT spelling of the borrower’s name AND the address listed on the last tax return filed matches the appropriate lines on the 4506T Form. If the information doesn’t match, edit the “Request for Transcript of Tax” screen and have them sign again.
Example:
The borrower’s last tax return filed does not include the borrower’s middle initial. Also, the borrower’s address on the last tax return filed is different than the current address listed on the 1003.
Make sure, if the borrower signed it electronically that the signature does NOT overlap the instructions on the form otherwise the request will be rejected.
If the data matches, proceed with requesting the tax transcripts. Click on the Services tab then click the Order Verifications button.
On the pop-up window, double-click on DataVerify 4506T/SSA.
Select the desired Product, click the Get Available Years button and check the Transcript Years for each borrower. Finally click the magnifying glass to attach the 4506T form.
On the following pop-up, mark the appropriate location:
Browse from your computer = Wet-signed 4506T
Browse from Encompass eFolder = Borrower signed through Simple Nexus
Browse from eSign Vault = Borrower signed through email link
Locate and select the 4506T then click Continue
The request for transcripts has now been placed!
