Checklist of Documents Needed for Loss Mitigation Assistance

The following applicable documentation must be provided in order to apply for Loss Mitigation Assistance, including home retention (loan repayment, loan modification, etc.) and non-retention options (short sale, voluntary return of property, etc.).

1. Income Documentation:

For each borrower who is a salaried employee:

  • Most recently filed federal tax return with all schedules and
  • Most recent 2 pay stubs and last 2 years W2s.

For each borrower who is self-employed:

  • Most recent last 2 years filed federal tax returns with all schedules and
  • Most recent quarterly or year-to-date profit/loss statement.

For each borrower who has income such as social security, disability or death benefits, pension, public assistance, or unemployment:

  • Most recent federal tax return with all schedules and
  • Most recent benefits statement or letter from the provider that states the amount, frequency, and duration of the benefit.

For each borrower who is relying on alimony or child support:

  • Divorce decree, separation agreement, or other written agreement stating the amount of the alimony or child support and the period of time over which it will be received; and
  • Proof of full, regular, and timely payments; for example, deposit slips, bank statements, court verification, or filed federal tax returns with all schedules.

For each borrower who has rental income:

  • Most recent two years filed federal tax returns with all schedules, including Schedule E—Supplement Income and Loss

2. Assets Documentation:

For each borrower, whether separately or jointly (if not applicable in the Income section):

  • Most recent 2 bank statements (all types of accounts held: checking, savings, retirement, investment etc.)

3. Other Documentation:

  • Summons, Foreclosure Complaint, and Loan Closing Package
  • Most recent Mortgage Statement for all properties owned and financed
  • Most Recent Property Tax Bill for all properties owned
  • Declarations Page for property insurance (all properties owned)
  • Condo Association payment information, if applicable
  • Debt and Household Expense Information (see attached form)