1005 Verification Of Employment Form PDF Details

In the intricate process of applying for a mortgage, verifying an applicant's employment and income status is a crucial step, which is where the Form 1005 Verification of Employment (VOE) comes into play. This form, a vital document utilized by lenders, serves a double duty by not only confirming the current employment status of a prospective borrower but also providing a detailed glimpse into their past employment history. Drafted to cater to requirements set by entities such as the VA, HUD/FHA, HUD/CPD, USDA/FmHA, it's structured to protect and adhere to the Privacy Act, ensuring the applicant's information remains confidential and is used solely for determining mortgage eligibility. The form demands a lender-initiated verification process, barring the exchange of these sensitive documents through the hands of the applicant or any unauthorised party, thereby maintaining the integrity of the information. Furthermore, for the form to fulfill its purpose, the applicant's consent through their signature is obligatory, permitting their current or previous employers to release the requisite data. On the lender’s part, meticulous completion of designated sections is necessary before dispatching the form directly to the employer(s), thereby streamlining the verification process while simultaneously adhering to legal obligations and protecting against fraud.

QuestionAnswer
Form Name1005 Verification Of Employment Form
Form Length2 pages
Fillable?Yes
Fillable fields67
Avg. time to fill out13 min 58 sec
Other namesverification form voe, verification employment voe, verification of employment, fannie mae verification of employment

Form Preview Example

2. From (Name and address of lender)

I

�FannieMae

Request fc,r Verification of Em�le>y_111ent

Privacy Act Notice: This information is to be used by the agency collecting it or its assignees in determining whether you qualify as a prospective mortgagor under its program. It will not be disclosed outside the agency except as required and permitted by law. You do not have to provide this information, but if you do not your application for approval as a prospec­ tive mortgagor or borrower may be delayed or rejected. The information requested in this form is authorized by Title 38, USC, Chapter 37 (if VA); by 12 USC, Section 1701 et. seq. (if HUD/FHA); by 42 USC, Section 1452b (if HUD/CPD); and Title 42 USC, 1471 et. seq., or 7 USC, 1921 et. seq. (if USDA/FmHA).

Instructions: Lender - Complete items 1 through 7. Have applicant complete item 8. Forward directly to employer named in item 1.

Employer Please complete either Part II or Part Ill as applicable. Complete Part IV and return directly to lender named in item 2.

The form is- to be transmitted directly to the lender and is not to be transmitted through the applicant or any other party.

Part I - Re uest

1. To (Name and address of employer)

I certify that this verification has been sent directly to the employer and has not passed through the hands of the applicant or any other interested party.

3. Signature of Lender4. Title5. Date 6. Lender's Number (Optional)

 

 

I have applied for a mortgage loan and stated that I am now or was formerly employed by you. My signature below authorizes verification of this information.

 

 

 

7. Name and Address of Applicant (include employee or badge number)

 

 

 

 

 

 

8. Signature of Applicant

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Part II -

VenT1cat1on ofPresent

 

Emp1oyment

 

 

 

 

 

 

 

 

 

 

 

11. Probability of Continued Employment

 

 

 

 

 

 

9. Applicant's Date of Employment

 

 

 

10. Present Position

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12A. Current Gross Base Pay (Enter Amount and Check Period)

 

 

 

13. For Military Personnel Only

14. If Overtime or Bonus is Applicable,

 

 

 

 

 

 

 

 

 

D

Annual

 

□

Hourly

 

 

 

 

 

Pay Grade

 

 

 

 

 

 

Is Its Continuance Likely?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

D

Monthly

 

D

Other (Specify)

 

 

 

 

Type

 

Monthly Amount

Overtime

 

D

Yes

D

No

$

 

 

 

 

 

C

Weekly

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bonus

 

□

Yes

□

No

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Base Pay

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

128. Gross Earnings

 

 

 

 

 

 

$

 

 

 

 

 

15. If paid hourly - average hours per

 

 

Type

 

 

 

Year To Date

 

Past Year

 

 

Past Year

19__

Rations

 

$

 

 

 

 

 

week

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

19_ _

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Base Pay

 

 

 

Thru __19_

 

$

 

 

 

 

 

 

$

 

 

 

 

Flight or

 

$

 

 

 

 

 

16. Date of applicant's next pay increase

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hazard

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Overtime

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Clothing

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

$

 

 

 

 

 

 

$

 

 

 

 

Quarters

 

$

 

 

 

 

 

17. Projected amount of next pay increase

 

 

 

Commissions

$

 

 

 

 

$

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pro Pay

 

$

 

 

 

 

 

18. Date of applicant's last pay increase

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Overseas or

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bonus

 

 

 

$

 

 

 

 

$

 

 

 

 

 

 

$

 

 

 

 

Combat

 

$

 

 

 

 

 

19. Amount of last pay increase

 

 

 

 

 

 

 

Total

 

 

 

$

0.00

 

$

0.00

 

 

$

0.00

 

 

 

Variable Housing

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

20.Remarks (If employee was off work for any length of time, please indicate time period and reason)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Part Ill - Verification ofPrevious Em lo ment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

21. Date Hired

 

 

 

 

 

 

 

 

 

23. Salary/Wage at Termination Per (Year) (Month) (Week)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Base

-------

Overtime

-------

Commissions

 

 

 

Bonus

 

 

 

 

 

 

 

 

 

 

22. Date Terminated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

24. Reason for Leaving

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

125. Position Held

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Part IV -

Authorized Signature - Federal statutes provide severe penalties for any fraud, intentional misrepresentation, or criminal connivance

or conspiracy purposed to influence the issuance of any guaranty or insurance by the VA Secretary, the U.S.D.A., FmHA/FHA Commissioner, or

the HUD/CPD Assistant Secretary.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

28. Date

 

 

 

 

 

 

 

 

26. Signature of Employer

 

 

 

 

 

 

 

 

 

 

 

 

27. Title (Please print or type)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

29. Print or type name signed in Item 26

 

 

 

 

 

 

 

 

30. Phone No.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fannie Mae

 

July 96

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Form 1005

 

Instructions

Verification of Employment

The lender uses this form for applications for conventional first or second mortgages to verify the applicant's past and present employment status.

Copies

Original only.

Printing Instructions

This form must be printed on letter size paper, using portrait format.

Instructions

The applicant must sign this form to authorize his or her employer(s) to release the requested information. Separate forms should be sent to each firm that employed the applicant in the past two years. However, rather than having an applicant sign multiple forms, the lender may have the applicant sign a borrower's signature authorization form, which gives the lender blanket authorization to request the information it needs to evaluate the applicant's creditworthiness. When the lender uses this type of blanket authorization, it must attach a copy of the authorization form to each Form 1005 it sends to the applicant's employer(s).

For First Mortgages:

The lender must send the request directly to the employers. We will not permit the borrower to hand-carry the verification form. The lender must receive the completed form back directly from the employers. The completed form should not be passed through the applicant or any other party.

For Second Mortgages:

The borrower may hand-carry the verification to the employer. The employer will then be required to mail this form directly to the lender. The lender retains the original form in its mortgage file.

Instructions Page

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