Verifications of deposit, or VODs, are a common form of verification used to confirm that applicants have the funds they claim to possess. This course will explore VODs and how they are used in the mortgage lending process.
Is bank vod legit?
Virtually every Major Lender, QC Audit Firm, Investor, GSE and Merchant look to BankVOD as the single source for processing bank verifications, which allows them to transact more business. Backed by a secure, state of the art processing interface and data facility; our clients know their sensitive data is safe.
What does VOD mean in banking?
Verification of deposit (VOD) is a form some lenders use in place of bank statements for mortgage applications. After you sign an authorization, your bank completes the form to confirm account ownership and current balance.
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