Using VOE’s and VOD’s to Qualify For a Loan

There are times when a VOE (verification of employment) or VOD (verification of deposit) are more appropriate to provide then the standard paystubs and bank statements in order to avoid certain underwriting issues and create needless extra conditions for a Borrower to obtain.

MortgageDepot WILL ACCEPT AND CLOSE on standard VOE and VOD forms without issue. ( NOT for Jumbo programs)

We follow our underwriting approval findings , and we ask the Employer or Banking institution to complete ONLY the amount of information that the findings request and NO MORE than that.

We WILL accept a VOE in lieu of paystubs.

We WILL accept a VOD in lieu of bank statements or bank printouts that may have large or unsourceable deposits.

A standard VOD form requests 2 months of an account balance history. Freddie Mac usually only needs 1 month of an account balance, therefore it is our responsibility to provide only what the Underwriting findings request and no more than that, alleviating extra paperwork requests.

We ensure a clean approval by being proactive and reviewing all documents prior to uploading and submitting to the Lender.

If you are having issues with income or verifying large deposits leave it up to us to handle the mortgage process to ensure a flawless approval. Contact our office and speak to a loan consultant.