Ask the Underwriter #14

Ask the Underwriter is our forum for answering common or recent partner questions. 

In this edition we’re tackling two questions that have been asked by multiple partners over the last few weeks.

Answer: For job gaps of 6 months or longer, Servion will require a written letter of explanation from the borrower; the letter must explain the circumstances surrounding the job gap. Additionally, following a job gap of 6 months or longer, we require the borrower to hold another job for at least 6 months to prove they have stable and consistent income.

Answer: Yes, funds from a cryptocurrency account (or Venmo) are acceptable; however, they must first be pulled from the account and deposited into a traditional checking or savings account. Then, document the large deposit of the funds with a statement from the cryptocurrency or Venmo account showing the borrower’s name and the withdrawal of the funds.

Have Questions for Our Underwriters?

If you have questions you’d like our underwriters to answer in a future issue, please send an email to underwriting@myservion.com. Thanks for reading!