Changes to self-employed doc requirements

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Quicken Loans made some changes to its self-employed document requirements: 60 days of asset statements showing 6 months of PITIA (for the subject property) in reserves, Business tax returns, If the business is a sole proprietorship, personal tax returns are acceptable. Audited profit and loss statement of the most recent month OR 30-day business assets from the most recent month, If the business is a sole proprietorship, a personal asset statement from the most recent month is acceptable. The above guidelines do not apply to VA IRRRLs and FHA non-credit qualifying streamlines.