As per Fannie Mae Selling Guide Announcement SEL-2020-07, IRS forms 4506-T and 4506T-EZ are being phased out for use by third parties in early 2021. IRS form 4506-C has been created for authorized IVES participants to order the tax transcripts with the consent of the taxpayer.
To comply with this update, PHH Mortgage will require the 4506-C form on all loans submitted for purchase on or after 2/15/2021.
As with the 4506-T, Sellers must ensure that the form is completed accurately and in its entirety prior to the borrower signing.
PHH Mortgage will accept the 4506-C in lieu of the 4506-T for all lenders who have implemented the use of the new form prior to 2/15/2021.
If you have any questions, please feel free to contact your Account
Executive, Rate Lock or PHH Correspondent Operations at 1-800-929-4744, or
RateLock@PHHMortgage.com or
PHHCorrSupport@PHHMortgage.com.
Coming soon – PHH Mortgage is changing its name!
