Similar to identity theft, this type of fraud happens when an unauthorized individual gain access through online banking applications, capturing the account information to create and write bad checks.
Account-centric enterprise content management solutions allow users to access account holder information based on their account numbers.
An adverse action notice is a document sent to a loan applicant stating a bank’s rationale for denying a loan. It may also contain a counteroffer, such as a lesser amount or a request for an approved co-borrower.
Agentic AI refers to artificial intelligence systems that can autonomously plan, reason, make decisions, and take action to achieve specific goals with limited human intervention.
The term “aging exceptions” refers to a group of critical exceptions that have not been resolved within a reasonable amount of time.
Altered check fraud occurs when a fraudster changes the amounts and Payee from a stolen check.
API is short for “application programming interface.” Technology companies like Alogent rely on APIs to connect multiple software applications, thereby enabling a two-way exchange of information to support users’ needs.
Audit and exam prep is a process that financial institutions go through in order to adequately prepare for upcoming audits and exams.
An authorized signer form is a document that allows an account holder to grant a range of clearance levels to individuals to perform certain functions within a bank account.

Verification of Deposit and Income Forms

A Verification of Deposit form is a document that is part of a personal mortgage loan application package and is used as a risk-mitigation measure. It is sent from one financial institution to another to confirm either that a customer’s:

  • Cash deposit amounts as reported on the loan application are correct
  • Account has the necessary funds for a down payment

This form is typically required to submit a loan package for approval to mortgage underwriters.

A Verification of Income form is another standard document in a personal mortgage loan application package. A mortgage originator or assistant usually prepares it to confirm a loan applicant’s stated income. Verification of Income is used to ensure that a bank is basing its calculations on an applicant’s actual income and to determine whether the applicant can repay his or her loan.

Verification of income may be completed in one of several ways:

  • Self-employed individuals may be asked to provide tax returns (i.e., IRS Form 1040)
  • Those employed by a company or organization might be asked to submit W-2s or pay stubs
  • In some cases, a bank or credit union might contact the applicant’s employer to confirm income

Tracking Verification of Deposit & Income Forms

Verification of Deposit and Verification of Income documents are usually mailed between physical locations and offices. Mailed documents can be difficult to track without proper technology and exception reporting workflows.

That’s why some banks and credit unions turn to core-integrated document tracking software, such as AccuAccount, to improve their loan application workflows.

For example, AccuAccount can track that the Verification of Deposit form was mailed and when it was returned—and store a digital image of the document for convenient reference.

Loan Document Management Resources

For more information about document tracking and imaging in the banking industry, be sure to check out our extensive resource library with free spreadsheets, whitepapers, and eBooks.

Browse our banking definitions page for more terminology.

Explore more resources

Related articles

Wednesday 22 July 2026

Fraud Prevention is a Growth Strategy: The Connection Financial Institutions Can’t Ignore

Fraud is no longer just a cost to manage—it’s a growing, multi-channel threat that drains resources, erodes trust, and impacts profitability far beyond the initial…

Read the Blog

Monday 20 July 2026

ECM Migration for Banks and Credit Unions: 3 Key Phases for a Successful Conversion

Switching from one ECM to another can seem like an impossible endeavor. Migrating thousands of documents, integrating various banking applications, and retraining users takes time…

Read the Blog

Tuesday 14 July 2026

[Playbook] Secure & Auditable Document Collection with Alogent Document Portal

Alogent Document Portal redefines how banks and credit unions collect and manage documents, replacing scattered emails and disconnected file-sharing tools with a secure, streamlined experience…

Read the Blog

Tuesday 7 July 2026

Breaking Down Fraud Silos: Why Cross-Channel Visibility Is Critical to Stopping Deposit Fraud

Fraud is no longer confined to a single channel. Today’s threats move seamlessly across mobile, ATM, and branch transactions, exploiting gaps in visibility. For banks…

Read the Blog

Monday 29 June 2026

Document Retention: A Growing Blind Spot for Compliance

Regulatory changes, evolving policies, and growth often create document retention blind spots that increase compliance risk, especially when institutions rely on manual tracking tools like…

Read the Blog

Thursday 25 June 2026

Enabling Faster, More Confident Decisions at the Teller Line

Physical branches remain essential, especially for onboarding and high‑value interactions, but outdated, siloed teller systems create friction, limit visibility, and delay fraud detection. As expectations…

Read the Blog

Wednesday 17 June 2026

Network Drives vs. ECM: Why Financial Institutions Need Secure, Scalable Document Management

Network drives offer a basic step toward digitization but quickly create challenges with organization, compliance, security, and reporting, especially as document volumes and complexity grow…

Read the Blog

Monday 15 June 2026

What Aging Exceptions Reveal About Your Lending Operations

Aging exceptions, such as unresolved collateral or covenant issues lingering beyond 90 days, create significant risk and often signal breakdowns in lending operations. Many institutions…

Read the Blog