BankingFinancial PlanningNeed a Verification of Deposit?

Important information your lender may request.

What is a Verification of Deposit?

When getting approved for a home loan your lender may request a Verification of Deposit (VOD). A VOD is a document requested by a third party, usually a lender, and signed by the financial institution to verify your financial holdings.

Can my advisor process a VOD request?

VOD requests are only completed by the custodian of the funds and not the advisor. So if the account in question is with LPL then the Cash Control Department in the LPL Home Office is the department that completes the VOD request, which is submitted by the advisor or someone from the advisor’s office.

What is required to process a VOD request?

The Verification of Deposit Form signed by both the client and advisor is required to process a VOD request.

How long does it take to process a VOD request?

Once received it could take up to 5 business days to process a VOD request.

Who receives the VOD?

The VOD is sent directly to the third party, normally the lender requesting the information.

 

If you need a verification of deposit, contact our office at 425-252-4032.

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