source:
  type: guide
  id: fnma-sel-b3-4.2-01
  authority: Fannie Mae Selling Guide B3-4.2-01 — Verification of Deposits and Assets
  description: Fannie Mae Selling Guide B3-4.2-01 — Verification of Deposits and Assets.
  coverage_tier: operative
obligations:
- id: fnma-sel-b3-4.2-01-full
  canonical_id: fnma-sel-b3-4.2-01-full
  section: Fannie Mae Selling Guide B3-4.2-01 — Verification of Deposits and Assets
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide B3-4.2-01 — Verification of Deposits and Assets
    source_class: fnma-guide
    source_url: https://singlefamily.fanniemae.com/media/document/pdf/selling-guide
    snapshot_id: 5f7b8b79da595d76
    fetched_at: '2026-05-25T14:09:57Z'
    content_hash: sha256:98cf85a02861bbe84914a0e339b327c8fc131869a8a573882007bbeea60c5701
    paragraph_quote: 'B3-4.2-01, Veriﬁcation of Deposits and Assets (05/04/2022) Introduction
      This topic contains information on verifying deposits and assets, including:
      Veriﬁcation of Deposits and Assets Asset Documentation Provided by a Third-Party
      Asset Veriﬁcation Vendor Blanket Authorization Form Veriﬁcation of Deposits
      and Assets The lender can use any of the following types of documentation to
      verify that a borrower has suﬃcient funds for closing, down payment, and/or
      ﬁnancial reserves: Request for Veriﬁcation of Deposit (Form 1006). The information
      must be requested directly from the depository institution, and the complete,
      signed, and dated document must be sent directly from the depository institution.
      Copies of bank statements or investment portfolio statements. All statements
      must: clearly identify the ﬁnancial institution, clearly identify the borrower
      as the account holder, include at least the last four digits of the account
      number, include the time period covered by the statement, include all deposits
      and withdrawal transactions (for depository accounts), include all purchase
      and sale transactions (for ﬁnancial portfolio accounts), and include the ending
      account balance. Published May 6, 2026 413 If the lender is the holder of the
      borrower''s account, the lender may produce a printout or other alternative
      veriﬁcation of the asset(s) directly from its system. The printout or alternative
      veriﬁcation is acceptable as long as all required data (above) is supplied and
      documented. Copies of retirement account statements. They must be the most recent
      statements, and they must identify the borrower’s vested amount and the terms.
      (See B3-4.3-03, Retirement Accounts, for additional information.) The number
      of required bank or investment portfolio statements varies per transaction type
      as shown in the following table. Documentation Requirements Purchase transactions
      The statements must cover the most recent full two-month period of account activity
      (60 days, or, if account information is reported on a quarterly basis, the most
      recent quarter). Reﬁnance transactions The statements must cover the most recent
      full one-month period of account activity (30 days, or, if account information
      is reported on a quarterly basis, the most recent quarter). If the latest bank
      statement is more than 45 days earlier than the date of the loan application,
      the lender should ask the borrower to provide a more recent, supplemental, bank-generated
      form that shows at least the last four digits of the account number, balance,
      and date. The statements may be computer-generated forms, including online account
      or portfolio statements downloaded by the borrower from the Internet. Documents
      that are faxed to the lender or downloaded from the Internet must clearly identify
      the name of the depository or investment institution and the source of information—for
      example, by including that information in the Internet or fax banner at the
      top of the document. If necessary, the lender must supplement these veriﬁcations
      by obtaining any missing information from the borrower or the depository institution.
      See B3-4.4-02, Requirements for Certain Assets in DU, for additional information
      about documentation of assets for DU loan caseﬁles. In addition, loans with
      assets validated by DU must comply with all requirements pertaining to the DU
      validation service. Compliance with the DU messages satisﬁes the requirement
      for documenting assets. This documentation may diﬀer from the requirements described
      above. See B3-2-02, DU Validation Service , for additional information. Asset
      Documentation Provided by a Third-Party Asset Veriﬁcation Vendor Direct veriﬁcation
      by a third-party asset veriﬁcation vendor. These veriﬁcations are acceptable
      as long as: the borrower provided proper authorizations for the lender to use
      the veriﬁcation method, the veriﬁed information provided must conform with the
      information that would be provided on Published May 6, 2026 414 Form 1006 or
      on bank statements, the date of the completed veriﬁcation is in compliance with
      B1-1-03, Allowable Age of Credit Documents and Federal Income Tax Returns, the
      lender has determined that the vendor maintains reasonable practices that ensure
      reliable and authorized veriﬁcations of deposit and asset information (see A4-1-01,
      Maintaining Seller/Servicer Eligibility), and the lender understands it will
      be held accountable for the integrity of the information obtained from this
      source. Blanket Authorization Form Rather than having the applicant sign multiple
      forms, the lender may have the applicant sign an authorization form which gives
      the lender blanket authorization to request the information it needs to evaluate
      the applicant’s creditworthiness. (See B1-1-02, Blanket Authorization Form.)
      When the lender uses this type of blanket authorization, it must attach a copy
      of the authorization form to each Form 1006 it sends to the depository institutions
      in which the applicant has accounts. Recent Related Announcements The table
      below provides references to recently issued Announcements that are related
      to this topic. Announcements Issue Date Announcement SEL-2022-04 May 04, 2022
      Announcement SEL-2022-01 February 02, 2022 Announcement SEL-2021-06 July 7,
      2021'
  judgment: false
