This is a YouTube video titled "💰 Deposits into Bank Account 💰" containing a monologue or single-speaker explanation from August 5, 2021, discussing the process and requirements for tracing the origin of funds in bank accounts, including payments, transfers, and gifts, particularly in the context of underwriting and loan processing.
You can see regular payments going out each month. That's no problem. Underwriting generally doesn't have to get too involved. There a paycheck coming in. That's okay. People are allowed to get paid the cash. I would have advised against that. I should have got a check or a wire transfer to really trace where the funds came from. But let's say that that was actually just a transfer from another bank account of the buyers. We'd have to get the other bank account and then do the same tracing on that account to show that's where the funds really originated from and match up to $5,000. Now what if it was a gift? You'd actually have to get a gift letter and a gift check or the copy of the wire transfer for the gift amount. Conventional. That's it. FHA and va. You actually have to get the gift statement as well to show that's where the funds actually originated from.
