IRS Transcript Requirement Suspension for USDA Loans
USDA announced on December 21, 2017 that the requirement to retain IRS Form 4506-T for all adult household members has been suspended until further notice.
Form 4506-T will still be required for Household Members included on the loan application.
Effective Immediately- the suspension of the requirement applies to all final GUS and Manually underwritten loans. GMFS will no longer require transcripts which should expedite your files.
When determining program eligibility, the underwriter must continue to perform their due diligence when reviewing income and asset documentation obtained for the household.