We offer the VOE (Verification of Employment) Program, a creative Non-QM product that helps finance borrowers who would benefit from this innovative loan program.
In many cases, providing a VOE in lieu of pay stubs can simplify the underwriting process and help avoid unnecessary delays. Paystubs don’t always tell the whole story; they often miss overtime, commissions, or bonuses that can significantly impact a borrower’s true income potential. A detailed VOE, on the other hand, offers a clear, comprehensive picture of employment and earnings directly from the employer.
Year-End Paystubs: Another Smart Alternative
A year-end paystub can serve as another strong documentation option. Unlike standard paystubs, it captures all income sources throughout the year, including detailed breakdowns that simplify verification and reduce the need for additional conditions during underwriting.
Using VOD Instead of Bank Statements
Similarly, VODs (Verifications of Deposit) can often replace traditional bank statements. A VOD provides concise, verified asset information that typically meets AUS (Automated Underwriting System) requirements for asset documentation, except in cases where Earnest Money Deposit (EMD) verification is required.
Fewer Conditions, Faster Closings
By leveraging VOE and VOD documentation, borrowers and loan officers can often eliminate multiple conditions that arise from underwriters scrutinizing pay stubs or bank statements.
Contact us to learn how our documentation options can help you get approved for a mortgage loan.
