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Old 06-04-2015, 08:08 PM
 
24 posts, read 39,191 times
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Hello,

A month ago I was given the green light to start working from home. I decided to take advantage of this opportunity to move across the state. I found a nice home in the desired city, put in an offer which was accepted. After inspection was completed, I found out the lender wanted a signed statement from my employer indicating my employment/income would not change after my move.

The managers at my work are given discretion of letting their employees work from home; there is nothing in my payroll record that signifies me a remote employee. While the Lender can pull my HR pay records, nothing "Official" would show up indicating I can work from home.

My manager is very versed with the company policies; he cannot act on the company behalf to provide employment verification with a notation that I work from home.

So, even though all my financials are in place - a week before closing - I'm stuck.
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Old 06-04-2015, 08:28 PM
 
Location: Phoenix, AZ area
2,931 posts, read 2,389,174 times
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Pretty standard when working with people who are just beginning to work from home. The risk is if you aren't productive your employer will call you back into the office because it is so new for you its a big risk. If they call you back in the house is no longer desirable and you may sell or more likely, which is just the average thing people do not you specific, walk away.
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Old 06-04-2015, 09:25 PM
 
3,317 posts, read 7,251,326 times
Reputation: 4095
Quote:
Originally Posted by youngins View Post
Hello,

A month ago I was given the green light to start working from home. I decided to take advantage of this opportunity to move across the state. I found a nice home in the desired city, put in an offer which was accepted. After inspection was completed, I found out the lender wanted a signed statement from my employer indicating my employment/income would not change after my move.

The managers at my work are given discretion of letting their employees work from home; there is nothing in my payroll record that signifies me a remote employee. While the Lender can pull my HR pay records, nothing "Official" would show up indicating I can work from home.

My manager is very versed with the company policies; he cannot act on the company behalf to provide employment verification with a notation that I work from home.

So, even though all my financials are in place - a week before closing - I'm stuck.
You're not stuck, this is common. The Verification of Employment obtained by the Lender, has provisions for this, and you can augment your case with a letter from your manager, on Letterhead, asserting that your move does not affect your job or workload.

The Verification, and the Letter, are two separate things. This happens a lot. Your Lender should not be presenting this to you as insurmountable.

Last edited by Pfhtex; 06-04-2015 at 09:44 PM..
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Old 06-05-2015, 04:51 AM
 
24 posts, read 39,191 times
Reputation: 21
Quote:
Originally Posted by Pfhtex View Post
Your Lender should not be presenting this to you as insurmountable.
Thank you for the responses.

The lender is not presenting this as insurmountable - my manager is stating all he can do is verbally verify he allowed me to work from home. He cannot make any written statement my income or employment would not be affected after I move. Even though my income is steady and there is plenty of work in the pipeline, no one has a crystal ball or any guarantees.

I suspect there would be few major corporate HR / legal department which would advise their people managers in any other fashion.
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Old 06-05-2015, 05:22 AM
 
Location: MID ATLANTIC
7,598 posts, read 17,614,249 times
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This is actually becoming more common and hopefully a trend we will see continue. It helps companies, the workers and the cities involved. We pull more traffic off the roads, ease congested schools and have happier workers with reduced child care and pet care.

I suspect your loan officer made a bigger issue than needed. When we put the in the employer address, it's almost always the address on the paystub., which can be 1/2 country away. We don't chase down their physical local place of employment. I can't remember the last time I had to chase down evidence the employee could work other than the address on the application.
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Old 06-05-2015, 06:08 AM
 
Location: NC
6,081 posts, read 7,023,877 times
Reputation: 12054
Maybe the manager or the employer can use verbage such as "the company has no intention at the current time of reducing the salary for the employee if he were to work from home".
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Old 06-05-2015, 06:16 AM
 
10,265 posts, read 6,491,094 times
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The lender does not know you. They don't want to get stuck giving someone without steady employment or income in a new location a loan.

I don't get why your employer won't sign something. What's their loss. Any employer can fire you whenever they want for the most part. It's not like they are promising you employment for life.

How about a letter saying you will continue to be a company employee after the move without specifically saying you will work from home.

Otherwise find another lender.
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Old 06-05-2015, 06:53 AM
 
203 posts, read 196,573 times
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Quote:
Originally Posted by youngins View Post
He cannot make any written statement my income or employment would not be affected after I move. Even though my income is steady and there is plenty of work in the pipeline, no one has a crystal ball or any guarantees.
This seems a bit suspicious, like maybe your job/income isn't as secure as you think? Your employer is trying to cover their ass and not get stuck in a situation where they can't fire you or reduce your pay. Is this a salaried job or one where you get paid when there is work? You say there is plenty of work right now, but that sounds too precarious to bet a mortgage on. Sounds more like being self-employed and along with that comes far more scrutiny from lenders. Might be best to wait a bit to move until the situation is more stable.
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Old 06-05-2015, 10:33 AM
 
3,317 posts, read 7,251,326 times
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It's going to end up with an over-written letter from someone saying that "while this is no guarantee of future employment, the fact that "youngins" (I'd suggest they use your real name here) works from home does not negatively affect employment or materially imbue Youngins ability to earn wages consistent with those represented on our ancillary documents for work performed thus far in his/her employment with us."

Probably wordier.
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Old 06-05-2015, 12:22 PM
 
24 posts, read 39,191 times
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Quote:
Originally Posted by Pfhtex View Post
Probably wordier.

Not so much..

Email from Manager to Loan Officer:

Mr. Chris xxxx is an (company) employee, (position), reporting to me. His job is one that can be performed on site or at another location where he has connectivity. Chris will now be working remotely from city, ST. This arrangement will not affect his employment status; he will remain an active regular employee, continuing to report to me

They will probably buck at it because it wont have a signature.
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