Gift Letter Process

Gift Letter Process

The online form is completed by the MLO to initiate the following process.

When a MLO requests a gift letter, either via the broker demand or the independent gift letter request the following process should be done by the assigned employee.

  1. Go to customer Byte file in active folder.
  2. Click all screens in the menu then click Gift letter.
  3. Input Gift amount, Relationship to borrower, donor name.
  4. Print form to PDF.
  5. When sending form for esignature. request the following info in text format from Donor:  1.  Donor Street address, city, state, and zip. Donor Phone number, Donor’s institution name where the money is coming from, Donors institution address, city, state, and zip.  Institution account number.
  6. Send for donor signature, and send to all borrowers for esignature as well.

Use text fields for source of funds, name of depository, address, account number, and date funds will be transferred.  These institution fields, donor address, and donor phone number are to be completed by the donor and so it should be set up this way in the esign process.  The borrower(s) will sign at the bottom.

Gift Letter Process
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