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V

VA
See Department of Veterans Affairs (VA)
VA Mortgage
Mortgage loan offered by various lenders that the Department of Veterans Affairs guarantees for qualified borrowers. A feature of these loan programs is typically a lower required down payment for the purchase of a primary residence.
RELATED MORTGAGE TERMS: Certificate of Eligibility|Certificate of Veteran Status
MORTGAGE LOAN EXAMPLES: VA Mortgage Loan
VA Mortgage Funding Fee
Charge that may be added to the closing costs of a VA mortgage loan.
RELATED MORTGAGE TERMS: VA Mortgage
Variable Rate Mortgage (VRM)
See Adjustable Rate Mortgage (ARM)
Verification of Deposit (VOD)
Document used by a mortgage bank or lender to verify financial account balances for a loan applicant.
MORTGAGE LOAN EXAMPLES: Verification of Deposit (VOD)
Verification of Employment (VOE)
Document used by a mortgage bank or lender to verify the employment that a mortgage loan applicant has provided.
MORTGAGE LOAN EXAMPLES: Verification of Employment (VOE)
Verification of Rent (VOR)
Document sent to the landlord for the residence of a mortgage loan applicant as an alternative to providing a monthly mortgage statement to fulfill their documentation requirement.
RELATED MORTGAGE TERMS: Documentation Requirements
MORTGAGE LOAN EXAMPLES: Verification of Rent (VOR)
Verified Assets
In regard to mortgage bank or lender documentation requirements, a mortgage loan applicant discloses assets and their source for the loan provider to then verify.
Vest
Legal delegation of an asset from one individual to another without giving up immediate possession of that asset.

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