Gift Letter
Standard mortgage gift donor certification verifying down payment or reserve funds are a bona fide gift with no obligation of repayment.
Packaging & Submission Instructions
Originator Guidance: Complete and execute this form prior to upload with the initial loan submission package in the Corva Wholesale Broker Portal or Fannie Mae Desktop Originator.
Ensure all borrower signatures, entity documentation (for LLC or corporate borrowers), and applicable disclosures match the 1003 loan application. For assistance packaging this document, contact the Corva Broker Operations Desk at [email protected].
Form Description & Requirements
Gift Funds Verification Protocols
The Corva Gift Letter is required whenever an eligible borrower receives third-party funds toward down payment, closing costs, or reserve requirements on Conforming Agency, FHA, or VA transactions.
Required Information & Documentation
- Donor Relationship: Must be an immediate family member, domestic partner, or legal guardian.
- Non-Repayment Attestation: Explicit statement confirming that no repayment of the gift is expected or implied.
- Transfer Verification: Complete evidence of transfer must be provided, including donor bank withdrawal slip, wire transfer confirmation, and borrower deposit receipt.