Point User Guide 493
VOD (Verification of Deposit)
A document signed by the borrower’s financial institution verifying the status and balance
of his/her financial accounts. This document is generally not needed if recent bank
statements are available.
VOE (Verification of Employment)
A document signed by the borrower’s employer verifying his/her position and salary. This
document is generally not needed if recent pay stubs are available.
VOL (Verification of Liabilities)
A document verifying all outstanding liabilities and debts for the borrower or co-borrower.
VOM/VOMR (Verification of Mortgage/Rent)
A document usually signed or verified by the borrower’s landlord or property management
company verifying the amount of monthly rent or mortgage payment.
XML (eXtensible Markup Language)
A computer metalanguage that was developed by the W3C (World Wide Web
Consortium) to overcome limitations in HTML. XML is used for many purposes, including
information exchange between organizations.
YSP (Yield Spread Premium)
The cash rebate that a mortgage broker receives for a mortgage transaction. It is based
on the broker’s selling of an interest rate above the wholesale Par rate for which the
borrower qualifies.
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