Underwriters... OMG! Really!?
Hey BP!
Now I know that underwriters need a BUNCH of information to confirm finances. But some of this is ridiculous. I'm working on purchasing a Duplex. I've been uploading all necessary documents.
The underwriter has come back with another list of stuff. Most of it is reasonable, however here are some that are making me question their competence. Can someone clarify WHY this would be necessary or am I just trippin'?
1) Signed and dated letter as to why your LLC. was created.
- Really!?
2) Provide a signed and dated letter from your CPA (on company letterhead) conforming that you don't file tax returns for your single member LLC.
- Wait... (they have my filed tax statement) Single member LLCs are disregarded entities that are treated as an extension of it's owner. Further more why would I file twice!?