Director Help! Mortgage Co. Rejected New Consultant's Pampered Chef Paystubs

[pckelly]

I have a newer consultant who is in the process of purchasing a home. The mortgage company has rejected her PC paystubs (?) and instead, want a statement from PC stating her income to date.

She's called HO 3 times and hasn't been successful in getting what she needs. I suggested she call the Finance Department numbers, but won't know until tomorrow if that works.

Anyone experienced this? Any help out there on where to go next?

 

[BethCooks4U]

I don't have an answer but I do know that one of the top NED's had the same problem. Have her also contact her sales manager for advice on what to do.

 

[jwpamp]

Just a thought -- she is new, so probably started just this year -- she (or you) can click on her name in Consultant Connection -- at the TOP -- and the screen that pops up will show 'income to date' for this year. She can hit "CTRL" + "Prnt Scr" and print it.If they want something more professional, she will have to wait. As far as I know, though, mortgage companies do not even consider DS income unless you have been in it for 2 years.

 

[finley1991]

She won't get it. She's not EMPLOYED by PC. She's an independent contractor. I went through the same thing when I applied for a mortgage a few years ago. Very few mortgage companies will work with ICs. My BF is one as well and finally got his mortgage approved after talking with 3 companies. As soon as the first two heard he is an IC, they refused to work with him because since he's not an employee, he can't prove that he'll have consistent income going forward. Her best bet is to get a co-signer for her loan. That's what I ended up having to do. Or she could try a credit union. But HO can't help her. Legally they can't verify her employment.

 

[finley1991]

As far as I know, though, mortgage companies do not even consider DS income unless you have been in it for 2 years.

Yes... I've been with PC 14 years and they wouldn't accept it and BF has been with his company 22 years.

It's not pretty out there in mortgage world...

 

[pckelly]

Thanks for the info. Argg. I don't want this to be a bad taste thing for this consultant. While it's not PC's fault that the mortgage company is being stinky, she has left 3 messages and NO ONE has called her back from HO. That doesn't bode well for someone who is going to be told that her income from PC won't count toward her eligibility for a loan.

 

[finley1991]

Agreed. And I find that financial is the worst to get a call back from.