Published on April 28, 2022
Written by The Servion Group
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.
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