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Assets Issue
March 31st, 2011 1:59 PM

I think I need to mention it here once every a few weeks.

The lender will check any deposits of over $5000.
Please keep a copy of the documents once you receive
checks of over $5000.

Some borrowers said that it's my money, why the lender
cares?

Since most our lenders are wholesale lenders, so we
will have to follow Fannie Mae guideline to document
all those large deposits. Fed asked the wholesale lenders
to check those deposist to make sure there is no money
laundary activities.


Posted in:General
Posted by Eric Fang on March 31st, 2011 1:59 PMPost a Comment

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