March 31st, 2011 1:59 PM by Eric Fang
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 wewill have to follow Fannie Mae guideline to documentall those large deposits. Fed asked the wholesale lendersto check those deposist to make sure there is no moneylaundary activities.