Update to VVOE Requirements Prior to Purchase
Effective immediately for all loans, ServiSolutions is updating the requirement for a verbal verification of employment to be required before closing but no earlier than 3 business days prior to close. Please note, due to the ongoing pandemic and related economic concerns, ServiSolutions recommends the VVOE be completed as close to the note date as possible.

Lenders are no longer required to re-verify employment prior to loan purchase, if the loan file contains the VVOE dated within 3 business days prior to close.

Reminder: Representations and Warranties

  • When delivering loans originated pursuant to the provisions of this announcement, the lender warrants that the borrower(s) were employed on the note date. If the loan was not employed on the note date, the loan is ineligible for purchase. If, as a result of QC review of a loan purchased ServiSolutions discovers that the borrower lost their employment on or before the day of the note date the loan would be subject to repurchase.
  • Any loan in which the lender has granted forbearance or loan modification or for which the borrower has requested forbearance is ineligible for sale to ServiSolutions.
  • All lender representations, warranties and covenants as defined in the Mortgage Origination and Sale Agreement remain in effect. 
If you have any questions about this information, please contact Lisa Treece at ltreece@ahfa.com .