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Full Version: Deposit Verification of 401(k)Assets for Mortgage Loans
BenefitsLink Message Boards > Retirement Plans > 401(k) Plans
gerryg
We have been receiving a lot of Deposit Verifications from Mortgage companies regarding participant assets and loans in their company 401(k) Plan. Have anyone else received these requests? How are they being handled?
jevd
We have often received these requests. We have a standard phrase that states these are plan assets and cannot be collaterlalized. Often times the lender is looking for the borrower's ability to save and manage his assets etc.
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