Selling Guide

Published April 07, 2021

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What is required on a mortgage verification from a servicer?

Standard Mortgage Verifications from Servicers

When a lender relies on standard mortgage verifications from servicers or holders, it must ensure that the verifications include:

  • the unpaid principal balance of the mortgage and monthly payment amount;
  • the present status of the mortgage, such as current, 30 days’ delinquent, etc.; and
  • the borrower’s payment history.

When a servicer fails to provide all of the requested information, the lender must rely on information provided through the borrower’s canceled checks. The checks must:

  • be legible,
  • identify the mortgage servicer or mortgage holder as the payee,
  • indicate that the servicer or holder endorsed the check for deposit, and
  • indicate the date the servicer or holder deposited the check.

For additional information, see B3-5.3-03, Previous Mortgage Payment History.

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