This Article Is About Chris LaRocco Endeavor America Wholesale Lender

I like to introduce my fellow mortgage brokers to Chris LaRocco, National Account Manager for Endeavor America.

• Chris LaRocco is a veteran wholesale account manager and is currently the National Account  Wholesale Mortgage Manager for Endeavor America
• Whenever I have a file that is extremely challenging, I go to my friend Mr. LaRocco
• Chris LaRocco does not just specialize in tougher lower credit score mortgage files
• EA Loans also has competitive rates on higher credit score mortgage deals
• They are extremely competitive in pricing and their turnaround times are 24 to 48 hours for approvals and 24 hours for conditions

Chris LaRocco Endeavor America Wholesale Lender: Alternative Financing Lender

Endeavor America is one of our wholesale lenders at Gustan Cho Associates who have no mortgage lender overlays and just go off DU FINDINGS.

• Chris LaRocco and his support team are always there to answer questions on specific case scenarios
• Chris LaRocco of Endeavor America is extremely knowledgeable in all aspects of the mortgage business
• Chris is available 7 days a week to answer any mortgage professional’s questions

I have asked Chris LaRocco if he would be generous enough to post on my blog periodically and share some of the special unique products his company has to offer mortgage professionals.

Frequently Asked Questions

Below is a question and answer scenario from Chris LaRocco of Endeavor America.

Question:

• My wage earner borrower has Unreimbursed Business Expenses on their tax returns, is there any way to not have to count those expenses against the income and the DTI?

Answer:

• There are times when a wage earner writes off unreimbursed business expenses (2106) on their tax returns and yes there is a way to not have to count it against their DTI
• There is a lender that does not require full 1040 transcripts for FHA and USDA loans if the borrower’s only source of income is a wage earner, then a W-2 transcript may be ordered in lieu of a complete 1040 transcript
• However, it is important that the AUS findings do not ask for full tax returns

If the borrower submits a tax return, is self-employed,  receives retirement/disability income,  25% or more of income is a commission or currently owns a property other than the subject property, a complete 1040 transcript would need to be ordered though.

Full 1040 transcripts are needed on all Conventional and VA loans, or FHA loans that have a prior Mortgage Insurance Reject by another lender on it due to 2106 expenses or insufficient income.

Note: Updated 4506-T form posted online defaults to W2 transcripts for 2013 and 2012 only. If full transcripts are needed, it is the responsibility of the broker to ensure the correct boxes and tax years are input.   If you have any more questions contact Chris LaRocco 630 476 8580.

Thanks much,

Chris LaRocco

National Account Executive

630- 476- 8580 Cell

Endeavor America Loan Services