Answer by David Dickinson: From a compliance standpoint, you need to keep evidence of the income used in the analysis, but that wouldn't necessarily be the tax return or certainly the entire tax return. From a Safety and Soundness standpoint, there may be many reasons to keep subordinate tax return pages.
Answer by Randy Carey: From a legal perspective you might want to keep the whole thing. If the tax return is forged, it may assist in any loan fraud prosecution.
First published on BankersOnline.com 4/30/12