Processing times for income verification provided by the Internal Revenue Service have slowed in recent months, causing problems for lenders. The IRS pinned the delays on budget cuts, prompting the Mortgage Bankers Association to call for an evaluation of the “true cause” of the delays. The IRS charges $2 per request to provide a taxpayer’s tax transcript to lenders via a third-party vendor. Stephen O’Connor, a senior vice president of public policy and industry relations at the MBA, said historically, the turn time for the Income Verification Express Service program has been around two business days or less. “In recent months, however, lenders have reported...