How About Dinner and Drinks First? What's The Story With Bank Statements?

Mortgage and Lending with Fairway Independent Mortgage Corp.


In our constant pursuit to appease our Wisconsin clients and provide legendary service, we find our backs against the wall on one particular topic.............BANK STATEMENTS.

Nowadays, about ninety percent of the mortgage applications we process in Appleton, WI and the surrounding Fox Valley, WI will involve the client to furnish two months of recent bank statements.  This being said, the same questions, rebuttals and aggravation is felt from a lot of our clients when asked to fulfill the items that the mortgage industry mandates we require from you in order to get your loan done.  As we strive to make each client a "fan" of us and our service--we want to relay, with a little humor that you're not alone and we feel your pain.  Chanin on our team--who is now officially ready for sainthood,  who deals with this "clunky" asset piece battles everyday with the fine line between what it takes to get the loan done and how much the client wants to do.  Now, to save you the detail and boredom of mortgage underwriting and why certain stipulations occur, I will skip the "why" part and just move on to the "how" part. 

  1. DO NOT have your bank rep (or yourself) white out, black out or alter the statements in any fashion to conceal any of the data therein.
  2. We need ALL THE PAGES.....if it's a 5 page statement, we need 1 out of 5, 2 out of 5, and so on.....regardless of how petty the info on the page may be.
  3. We CANNOT accept the abbreviated statements you print from the web.  Those statements are "chopped up" from a security standpoint and do not contain the valid info we need for mortgage processing. (i.e. name, account number, institution name, etc)  NOTE: E-statements are acceptable, just keep in mind, when you print them, they will look like the ones you would get in the mail.
  4. If you must go to the bank and have someone print off your last 60 days of activity for the account in question.........the bank rep must STAMP AND SIGN EACH INDIVIDUAL PAGE.
  5. Lastly, and this is where it can get a little "testy"........we need to verify and explain any deposit into the account that is not labeled as an "ACH payroll deposit".

We cherish you as a client and pride ourselves on making your mortgage financing experience as pleasant as possible.  We will work arm in arm with you on every task necessary to provide you with the loan terms you desire or the house you want to live in.  By hook or by crook............we will get this done together.


If you or any of your loved one have any questions regarding home loans in Appleton, WI or the surrounding Fox Valley, mortgage financing, home ownership or banking in general, please don't hesitate to reach out.

Until next time-Yours Financially, Milly

Jamey Milheiser, NMLS #284184

Phone: 920-722-5626

Posted by

Jamey "Milly" Milheiser

Your Mortgage Guy

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Marnie Matarese
Showing you the best of Sarasota!

Thanks for the great and concise instructions.  I cannot tell you how much time is wasted by having to get fresh copies because my buyers cross-off and white-out the information on these statements that is needed.  I am copying your article and will hand it out to each new buyer seeking a mortgage!

Dec 15, 2011 07:41 AM #1
James Lyon
LyonSF - San Francisco, CA

Great points and ones that will save a lot of back and forth if done right the first time.

Dec 15, 2011 07:45 AM #2
Jamey "Milly" Milheiser
Fairway Independent Mortgage Corp. - Appleton, WI

@ Marnie.......thanks for the kind words........glad I could help!

@ got it! It's BY FAR the clunkiest part.


Dec 15, 2011 09:20 AM #3
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