FAA4.H Unearned Income (UNIN UNIC) : 03 Types of Unearned Income - Overview : EE Loans - Unearned Income : .01 Loan Verification
Loan Verification
 
REVISION 29
(04/01/14 - 05/31/14)
Verify loans with the lender. Verification must contain all of the following:
 
●The name of the recipient of the loan
●A statement that the amount advanced is a loan
●The amount of the loan
●The date of the loan
●The date repayment is expected by the lender
 
NOTE A specific date is not required.
 
●Name and phone number of the lender
 
When the lender fails or refuses to provide verification, follow the verification process.