Originally Posted by girlfriday View Post
Here's the issue; naturally in a city like Las Vegas we saw many applications from people who gave Pro Gambler as their occupation, and past returns were required. But this in and of itself was insufficient to secure a loan, no matter the amount of past income shown or the amount of loan-to-purchase.

In short, what the underwriters look for is the ability to pay back money loaned, and even though multiple years of past income is presented, we never saw a loan approved with the promise of repayment because an applicant said they would do that by gambling alone.

I can understand skepticism about copies of tax returns: they can be faked.

But what if in addition to tax returns showing an average net income well within qualifying range the borrower also presented with five or more years of bank records, which mirror and substantiate the amount of income claimed on the return?