BANK STATEMENT INCOME REVIEW 1 | Page BANK STATEMENT REVIEW | OCT-19 INTRODUCTION TO VERUS BANK STATEMENT REVIEW The Verus Bank Statement Income Review allows sellers to request a Bank Statement Review from VMC to help assess income eligibility results. To submit a request, follow the 3 main steps: 1. Provide required data/information for registration and lock (see page 3 of the Seller User Guide). 2. Submit a complete package of Bank Statement docs. See Minimum Document set attached. 3. Request Review 4. Adding Comments 5. View Finished Review and Results BANK STATEMENT REVIEW 1. From the Pipeline dashboard locate the loan you wish to submit for Bank Statement Income Review and navigate to the right of the loan. Click the action icon and from the dropdown and select Bank Statement Income Review. Click on the Pencil icon and complete the fields in the next screen: *All fields must be filled in
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BANK STATEMENT INCOME REVIEW
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INTRODUCTION TO VERUS BANK STATEMENT REVIEW
The Verus Bank Statement Income Review allows sellers to request a Bank Statement Review from VMC to help assess income eligibility results. To submit a request, follow the 3 main steps:
1. Provide required data/information for registration and lock (see page 3 of the Seller User Guide). 2. Submit a complete package of Bank Statement docs. See Minimum Document set attached. 3. Request Review 4. Adding Comments 5. View Finished Review and Results
BANK STATEMENT REVIEW
1. From the Pipeline dashboard locate the loan you wish to submit for Bank Statement Income Review and navigate to the right of the loan.
Click the action icon and from the dropdown and select Bank Statement Income Review.
Click on the Pencil icon and complete the fields in the next screen:
*All fields must be filled in
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2. Select the Upload Bank Statement Package option from the action icon dropdown list:
Select your documents and click Next:
Next, select Bank Statement Package from the dropdown selection. Note: only use ReSub Bank Statement Package if you need to Resubmit your request.
The new uploaded package will appear in the Uploaded Document grid located at the bottom of the dashboard
*You may also Upload additional documents using this action icon.
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3. Finally, navigate to the top of the screen and select Request Bank Statement Review to submit your request:
You may also input comments using the Conversation Log or submit additional supporting documents using the Paper click icon
To view comments, select the “Bank Statement Review” box under “Review Type”, this will make the comments appear. Here you may submit comments to the Reviewer with an issues or questions. NOTE: To ensure effective delivery, please ensure you enter a comment in this field. For example: Please use the 50% expense use rule unless the self-employed income requires the standard method.
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4. When the review is complete you will receive an email stating that the review is complete. Results may be viewed by clicking on “Bank Statement Income Review Summary”; this will open the summary in a new tab.
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A PDF version of the review, along with the income worksheet will also be uploaded to Documents in LMS Connect.
