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Verification of deposit
Verification of deposit Part of the loan process, in which a lender will ask a borrower's bank to sign a statement verifying the borrower's account balances and history.
RELATED TERMS--------------------------------------
Loan
A sum of borrowed money (principal) that is generally repaid with interest.
Lender
A term which can refer to the institution making the loan or to the individual representing the firm.
Will
A written document, properly witnessed, providing for the transfer of title to property owned by the deceased, called the testator.
Bank
An institution that acts as a financial intermediary by receiving money from depositors and lenders and also lending to borrowers.
Statement
A detailed record of transactions in a bank customer's account(s) for a certain period, usually each month, which shows debits, credits, transfers, payroll deposits, account balance, check fees, service charges, ATM activity, etc.
SIMILAR TERMS--------------------------------------
Verification
Confirmation under oath of the truthfulness of a statement.
Verification of employment
Confirmation that a loan applicant is telling the truth about where he or she works and how much he or she makes.
PREVIOUS AND NEXT TERMS--------------------------------------
Variate
A single item in a group.
Vaulted ceiling
An elongated half-cylinder that arches above the floor.
Vendee
The purchaser of realty; the buyer. The buyer under a land contract.
Vendor
The seller of realty. The seller under a land contract.
Verification
Confirmation under oath of the truthfulness of a statement.
Verification of deposit
Verification of employment
Confirmation that a loan applicant is telling the truth about where he or she works and how much he or she makes.
Vested
Having the right to use a portion of a fund such as an individual retirement fund.
Vestibule
A small entrance hall or room.
Veteran's Administration
An agency of the federal government that guarantees residential mortgages made to eligible veterans of the military services.
Veteran's exemption
California war veterans may receive a $4,000 exemption on the full cash value of their homes.
This dictionary contains 6433 terms. |
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