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

Click For Summary

Discussion Overview

The thread discusses the challenges faced by a new Pampered Chef consultant in obtaining mortgage approval due to issues with her income verification from the company. Participants share their experiences and thoughts on the situation, including potential solutions and the general perception of independent contractor income by mortgage companies.

Discussion Character

  • Anecdotal
  • Opinion-based
  • Exploratory

Main Points Raised

  • One participant mentions that the mortgage company rejected the consultant's Pampered Chef paystubs and suggested contacting the Finance Department for assistance.
  • Another participant shares that a top NED experienced a similar problem and advises contacting the sales manager for guidance.
  • One participant suggests that the consultant can access her income to date through Consultant Connection and print it, although notes that mortgage companies typically require two years of income history for direct sellers.
  • Another participant, identifying as a consultant, recounts their own experience with mortgage applications as an independent contractor, stating that many mortgage companies are reluctant to work with independent contractors due to income consistency concerns.
  • One participant emphasizes the difficulty of getting mortgage companies to accept direct seller income, citing their long tenure with Pampered Chef and similar experiences of others.
  • Another participant expresses concern about the consultant's experience with the lack of response from the Home Office, indicating it may negatively impact her perception of the company.
  • Several users mention the challenges of communication with the financial department and the overall difficulty of navigating mortgage applications as independent contractors.

Areas of Agreement / Disagreement

Views differ on the best course of action for the consultant, with some participants suggesting various approaches while others highlight the systemic challenges faced by independent contractors in securing mortgage approval.

Contextual Notes

The discussion reflects personal experiences and opinions regarding the intersection of independent contractor status and mortgage approval processes, particularly for those in the direct selling industry.

Who May Find This Useful

Consultants navigating similar financial challenges or those interested in understanding the experiences of peers regarding mortgage applications as independent contractors may find this discussion relevant.

pckelly
pckelly
Messages
492
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?
 
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.
 
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.
 
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. :(
 
jwpamp said:
As far as I know, though, mortgage companies do not even consider DS income unless you have been in it for 2 years.
Click to expand...

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...
 
  • Thread starter
  • #6
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.
 
Agreed. And I find that financial is the worst to get a call back from. :(
 

Frequently Asked Questions

What should I do if my mortgage company rejected my Pampered Chef paystubs?

If your mortgage company rejected your Pampered Chef paystubs, the first step is to contact them to understand the specific reasons for the rejection. They may require additional documentation or clarification regarding your income. You can also provide them with a letter explaining your business model and how your income is generated.

Can I provide alternative income documentation for my Pampered Chef business?

Yes, you can provide alternative documentation to support your income. This may include bank statements showing deposits from your Pampered Chef sales, tax returns, or a profit and loss statement. Be prepared to explain your business structure and how you earn your income.

How long do I need to be a Pampered Chef consultant for my income to be considered stable?

Mortgage companies typically look for at least two years of income history to consider it stable. However, if you have been a consultant for a shorter period, you can still provide documentation of your sales and earnings to demonstrate your income potential.

What if my Pampered Chef income fluctuates month to month?

Fluctuating income is common in direct sales. To address this, you can provide a year-to-date summary of your earnings along with your paystubs. Highlighting your best months and providing an average monthly income can help demonstrate your overall earning potential to the mortgage company.

Is it helpful to include a letter from my Pampered Chef director or team leader?

Yes, including a letter from your Pampered Chef director or team leader can be beneficial. This letter can provide insight into your performance, sales achievements, and potential for future income, which may help the mortgage company understand your business better.

You must log in or register to reply here.

Similar Pampered Chef Threads

Inspiring Story of Encouragement: A Pampered Chef Consultant's Journey
  • Porchechef
    • Recruiting and Team Leaders
Replies
5
Views
2K
LeslieSGI
Missing $100 Pampered Chef Bonus: Help Needed!
  • Kelly8
    • Pampered Chef Recruiting
Replies
4
Views
2K
pcjenr
Need Advice: Struggling to Get a New Pampered Chef Consultant Started
  • ldynred7
    • Pampered Chef Recruiting
Replies
5
Views
2K
Sheila
What inspired me to become a Pampered Chef consultant?
  • ivykeep
    • Pampered Chef Support Group
Replies
13
Views
2K
tlennhoff
Can You Handle a No-Show Recruit in Your Home-Based Business?
  • jwpamp
    • Recruiting and Team Leaders
2
Replies
30
Views
5K
GeorgiaPeach
Venting About a Pampered Chef Show at My Husband's Workplace
  • cmdtrgd
    • Pampered Chef Shows
Replies
4
Views
2K
AJPratt
Possible title: Lost Package from Pampered Chef - Who is Responsible?
  • kcjodih
    • Business, Marketing and Customer Service
Replies
8
Views
2K
whiteyteresa
How Can Pampered Chef Consultants Maximize Their December and January Bookings?
  • aried
    • Pampered Chef Bookings
Replies
2
Views
2K
Admin Greg
Back
Top