As announced in Fannie Mae SEL-2020-07, IRS Form 4506-T is being phased out for use by third parties in early 2021.
The IRS Form 4506-C, IVES Request for Transcript of Tax Return is now available for use by authorized Income Verification Express Service (IVES) participants in lieu of the 4506-T.
PennyMac is requiring the use of the 4506-C with loans delivered on or after 2/19/2021. Please note there are no changes to the current guidelines for when a completed request for tax return transcript form is required.
As a reminder, correspondents must always ensure the form is filled out completely and properly prior to obtaining required signature(s).
Please contact your Sales Representative with any questions.