What is the 1005?

Form 1005 is the Fannie Mae (Federal National Mortgage Association) designation for the standardized verification of employment (VOE) form. This is the written variety of the VOE form.

It is sent to an employer, accompanied by a copy of the applicant’s authorization. Because it takes time and can be subject to human errors and inaccuracies, it is no longer used as much since 2008. Most mortgage lenders now verify employment with copies of most recent pay stubs, a phone verification and a written verification from a third-party employment verification services contracted by many employer.

For more information, see also the following entries:

• :Fannie Mae:
• :Federal National Mortgage Association:
• :Mortgage Loan:
• :Verification of Employment: