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Kai is reviewing a mortgage file involving asset verification. Which response best follows the governing rule?

Correct Answer

A) Verify the asset source before using the funds

Asset verification confirms funds to close, reserves, large deposits, and gift documentation. The best answer is "Verify the asset source before using the funds".

Answer Options
A
Verify the asset source before using the funds
B
Proceed with the file before updating required application or underwriting information.
C
Use a sales preference instead of documented loan-file requirements.
D
Treat preliminary or incomplete information as final approval.

Why This Is the Correct Answer

Asset verification confirms funds to close, reserves, large deposits, and gift documentation. The best answer is "Verify the asset source before using the funds".

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