Open question to lenders and their underwriters - Why are you so dumb???

[Linda Weygant]

I'm a CPA, serving real estate investors.

This time of year, clients who are on extension will request proof that they are on extension for their mortgage broker.  Because I live in the 21st century, I EFile the extension for my clients and my software receives a confirmation back from the IRS and/or state that there is now a valid extension on file.  The proof exists in bits and bytes in my software, but my software can generate a letter that looks like this:

All of the smart people I know would look at that and say "Yep, that's proof of an extension being filed all right.  Even gives me the confirmation number.  Cool!"  HOWEVER, the bright folks in the lending industry say "No - I want the form!".  I do get it.  Back in the dawn of time, about 15 years ago before EFiling was so prevalent, it used to be that you'd print out a form 4868 and mail it to the IRS to request your extension.  The IRS would stamp it as "approved" and mail it back to you and that was your proof that you had a valid extension.

Somehow... SOMEHOW... in this day and age, this is what you guys still want???  Why??  I mean, my software can still generate that form and print it out.  But if I do so, it doesn't mean that it was sent to the IRS and it certainly doesn't mean that it was accepted/acknowledged.  The IRS no longer stamps the paper copy and sends it back.

In fact, the client could just go online and complete the form using Adobe and give it to you and it would be proof of exactly nothing.

So tell me..  Please, because I'm dying to know.  Why are you like this?