Underwriting
The lender's process of evaluating a loan application — verifying income, assets, employment, and the source of funds — to decide whether and on what terms to lend. It is where mortgage documents like gift letters and verification letters are scrutinized.
Related forms
Related guides
Mortgage gift letter: rules, template & what lenders require
A mortgage gift letter is a signed statement that down-payment money is a true gift with no repayment expected, which lenders require to confirm the funds are not a hidden loan. It must state the amount, the donor's name, address, phone, and relationship to you, backed by records tracing the transfer.
Employment verification letter: what it is and how to get one
An employment verification letter is a formal document from an employer confirming that someone works (or worked) there, stating job title, start date, status, and sometimes salary. Landlords, lenders, and immigration officials request it as proof of employment; you usually get one from HR or payroll, or through a service like The Work Number.