What is the 1006 Form in Mortgage Loans?

Form 1006 is the Fannie Mae (Federal National Mortgage Association) designation for the standardized verification of deposit (VOD) form, which is sometimes required with some conforming mortgage loan application. The 1006 is the written version of the VOD.

It is sent to a bank or credit union, accompanied by a copy of the applicant’s authorization, to verify an applicant’s account balance and recent history. Most lenders still require bank statements for the preceding two or three months, to verify how much the applicant has in his or her bank account. The VOD also requests the average balance for the past two months, to ensure that the applicant did not make a big deposit of funds from an invalid source.

For more information, see also the following entries:

• :Application:
• :Conforming Loan:
• :Fannie Mae:
• :Federal National Mortgage Association:
• :Mortgage Loan:
• :Verification of Deposit: