Bulletin 2021-029 2020 Tax Return Requirements

2020 Tax Return Requirements

NewRez LLC "NewRez" Approved Correspondent Clients: please note that applications or loans funding on or after April 15, 2021 that require tax returns for income qualification per applicable product guidelines, will require 2020 filed tax returns unless the borrower has filed an extension (IRS Form 4868). For self-employed borrowers who have filed an extension, an unaudited year-end Profit and Loss Statement will be required.


Effective for loans funding prior to April 15, 2021, 2020 tax returns must be used if a borrower has filed their tax returns prior to closing.


In addition, all COVID-19 employment requirements remain in effect.


To view our Age of Tax Return Job Aid, click here.