… or how little white lies turn into whoppers!
Let’s be real — in real estate, everyone plays a role. The realtor sells the dream, the lawyer protects the paperwork, but when it comes to vetting the financials, that’s where I step in. As a mortgage agent, it’s my job to protect the integrity of the deal before it ever reaches a lender’s underwriter. I’m the one who spots the inconsistencies, asks the awkward questions, and makes sure that everything adds up — literally and figuratively.
Too often, people think it’s as simple as sending in some pay stubs and hoping for the best. But any seasoned mortgage professional knows: if something smells off at the beginning, it’s bound to cause problems later. That’s why I go deep on document vetting, long before the lender gets their hands on the file.
Here’s what I look at behind the scenes to protect your clients — and your commission cheque:
Income: The Numbers Don’t Lie (Unless They Do)
Employment Letters: Trust, but Verify
Bank Statements: Reading Between the Lines
Credit Reports: What Lenders Really See
Down Payment: Following the Paper Trail
Cross-Referencing Everything: The Sherlock Holmes Method
Income: The Numbers Don’t Lie (Unless They Do)
One of the first things I scrutinize is income documentation. Anyone can hand me a pay stub, but that doesn’t make it valid. I’m looking for consistency across the T4s, Notices of Assessment (NOAs), pay stubs, and bank deposits.
For example:
If a client tells me they earn $80,000 a year but their NOA shows only $62,000, that’s a conversation. If their pay stubs say bi-weekly but deposits show up monthly, something’s off. I also check for recent raises, bonuses, and whether they’re on probation — all of which can affect how the lender views their income stability.
How I Protect the Deal:
I verify with the employer, compare documents side-by-side, and confirm the income matches both the job and lifestyle claimed. If there’s a discrepancy, I catch it early and address it.
Employment Letters: Trust, but Verify
Employment letters look official, but that doesn’t make them gospel. I ensure they’re dated, signed, and include the job title, employment status, salary, and start date. I cross-check this against other documents and even call the employer if something feels off. I verify the business, check out their physical location, and I may even walk through the front door… if they have one!
If a client works for a family business, I double down on verification because lenders will too. A made-up employment letter won’t survive underwriting — and I won’t let it get that far.
How I Protect the Deal:
I confirm the employer exists, the contact information is legitimate, and the person signing has the authority to do so. I spot fake fonts, suspicious email domains, and vague titles.
Bank Statements: Reading Between the Lines
Bank statements tell a story. I’m looking at more than just the balance — I’m looking at spending patterns, savings consistency, and whether those claimed pay deposits actually exist. Large, unexplained deposits? NSF charges? Sudden windfalls? Those are red flags.
For example, if someone claims to have saved $50,000 in six months but their statements show they’re overdrafting every other week, that’s a problem. I ask where the funds came from, domestically or internationally, and I make sure the answers are backed up with proof.
How I Protect the Deal:
I review three months minimum, sometimes more if needed, and document every source of funds clearly so there are no surprises at underwriting.
Credit Reports: What Lenders Really See
A credit report isn’t just a score; it’s a roadmap of financial behaviour. I review utilization rates, delinquencies, collections, and past bankruptcies. I also look at recent inquiries, which can hint at undisclosed borrowing.
If a client conveniently “forgets” a debt, I catch it here. If there’s an old phone bill in collections, I make sure it’s resolved before submission.
How I Protect the Deal:
I explain the credit profile to my clients in plain language, outline any fixes needed, and ensure the file goes to the right lender for their specific credit circumstances.
Down Payment: Following the Paper Trail
Lenders need to see the origin of the down payment — whether it’s savings, a gift, or borrowed funds. I collect 90-day bank statements, gift letters, and proof of deposits. Large, last-minute deposits are a red flag unless fully explained and documented.
If a client’s down payment comes from the sale of an asset, I gather the bill of sale and deposit records. If it’s gifted, I get the right letter signed. If it’s borrowed, we account for it in debt servicing.
How I Protect the Deal:
I preemptively document the source of funds so the lender’s underwriter has zero questions. Clean, clear, and fully compliant.
Cross-Referencing Everything: The Sherlock Holmes Method
No single document stands alone. I cross-reference pay stubs to bank deposits, NOAs to T4s, employment letters to credit history, and bank statements to down payment claims. Inconsistencies are where fraud, mistakes, or misunderstandings live.
Example: A client says they’ve been with their employer for five years, but their NOAs show fluctuating income and their credit report lists a new employer address. I flag it, verify it, and clarify it before it gets to underwriting.
How I Protect the Deal:
I act as a human lie detector. If one piece doesn’t match the others, I resolve it early to avoid delays, declines, or embarrassing retractions.
Allen’s Final Thoughts
At the end of the day, what I do isn’t just paperwork — it’s protection. Protection for my clients, protection for your deals, and protection for everyone’s reputation. When you work with me, you’re getting more than a mortgage approval — you’re getting a layer of diligence that ensures no lender is blindsided and no deal falls apart at the eleventh hour.
By the time I send a file to a lender, it’s already been vetted with the precision of an auditor and the scrutiny of a detective. That’s why my approvals stick.
How I Support You
As a mortgage agent, my job is to make your life easier. I ensure your clients are properly vetted, fully pre-approved, and ready to buy without surprises. I coach them through document collection, educate them on what lenders expect, and protect your deals from preventable pitfalls. I’m not just here to process paperwork; I’m here to safeguard your business and your reputation.
When you refer your clients to me, you can trust they’re in capable, experienced hands. Let’s work together to keep your deals smooth, your clients happy, and your reputation rock-solid.