Mortgage Lending · Loan Origination & Processing
Verification of employment and asset procedures
An internal procedure guide telling loan processors how to confirm a borrower's job, income, and money in the bank.
What it usually contains
- Steps for written and verbal employment verification, including who to call and what to document
- Rules for acceptable pay stubs, W-2s, tax returns, and self-employment income
- Bank statement and asset review standards, including sourcing large deposits and seasoning periods
- Timing rules such as re-verification within days of closing
- Handling of gift funds, retirement accounts, and third-party verification reports
What the assistant uses it for
Answer questions about what documents prove income or assets, how recent they must be, and how to verify an employer or an unusual deposit. Also useful for knowing who signs off and what gets recorded in the loan file.
How it is versioned
A document of this type has exactly one current version at a time. Upload a revision and it becomes the version that counts — the one before it is kept and dated, but is no longer what your assistant answers from. Nothing is ever deleted, so you can always show what this document said on a given date.
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