4001.112—Income verification.
The mortgagee shall use FHA's procedures to verify the mortgagor's income and shall comply with the following additional requirements:
(a)
The mortgagee shall document and verify the income of the mortgagor by obtaining a transcript of the borrower's Federal income tax returns or a copy of the borrower's Federal income tax returns obtained directly from the Internal Revenue Service for the most recent two years; and
(b)
The mortgagee shall document and verify the mortgagor's income in any case in which the mortgagor has not filed a Federal income tax return.