Tag: asset verification

Minimum Number of Bank Statements Needed to Verify Assets

Question: If I have a GUS Accept/Eligible, what is required to document the funds to close? Answer:Assets and Reserves Depository Accounts:  Checking, Money Market Accounts, and Savings Documentation: Two months of recent bank statements, OR Verification of Deposit (VOD) and a recent bank statement, OR Alternate evidence (example: statement printouts stamped by lender) to support […]

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FHA Mortgagee Letter 2019-1, Third Party Verification Services, February 15, 2019, Effective February 15, 2019

Written By: Tracey Rumsey, Staff Writer It’s always nice to receive clarification on a subject versus just hoping that you’re right.  This is an important read if you use third-party verification services. Rule Synopsis: In a future 4000.1 Handbook revision, FHA will provide clarification regarding the use of Third-Party Verification contractor services in order to […]

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