Why this document matters
This document, also referred to as a Joint Access Letter, is required when an asset statement is a joint account and one of the account owners is not the borrower and is not on the loan application. The purpose of this form is to obtain acknowledgement from the co-owner of the account, granting permission for the borrower to utilize the funds for loan qualification. Without this document, joint account funds where non-borrower co-owners haven’t granted access may be excluded from asset calculations, affecting down payment, closing costs, or reserves calculations.When this document is requested
This document is requested when:- Joint account identified in asset statements
- Account co-owner is not a borrower on the loan or loan application
- Underwriting needs confirmation that non-borrower account owners grant permission for the borrower to use the funds
- Funds from the account are needed for down payment, closing costs, or reserves
Required data fields
Loan information fields
| Field Name | Type | Required | Data Source | Notes |
|---|---|---|---|---|
| Loan number | String | Yes | Loan entity | Alphanumeric identifier |
| Borrower name | String | Yes | Borrower entity | Full legal name, repeatable for N borrowers |
| Subject property address | String | Yes | Loan entity | Full street address of property being financed |
Account holder fields
| Field Name | Type | Required | Data Source | Notes |
|---|---|---|---|---|
| Account holder name | String | Yes | User input | Full legal name of account holder, repeatable for N account holders (can include borrowers, co-borrowers, and additional account holders) |
Account information fields
| Field Name | Type | Required | Data Source | Notes |
|---|---|---|---|---|
| Financial institution | String | Yes | User input | Name of financial institution, repeatable for N accounts |
| Account number | String | Yes | User input | Account number or last 4 digits, repeatable for N accounts |
Confirmation field
| Field Name | Type | Required | Data Source | Notes |
|---|---|---|---|---|
| Confirmation acknowledgement | Boolean | Yes | User input | Confirms 100% access to all accounts listed, funds may be used for any reason by any party |
Signature fields
| Field Name | Type | Required | Data Source | Notes |
|---|---|---|---|---|
| Account holder signature | Signature | Yes | E-signature | Digital signature with timestamp, repeatable for N account holders |
| Signature date | Date | Yes | E-signature | Auto-populated on signature, repeatable for N account holders |
Suggested questions for data collection
| Question | Response Type | Validation |
|---|---|---|
| ”Account Holder #X: What is your full legal name?” | Text input | Required, min 2 words, repeat for each account holder |
| ”Account #X: What is the name of the financial institution?” | Text input | Required, name of bank or financial institution |
| ”Account #X: What is the account number?” | Text input | Required, full account number or last 4 digits |
| ”Do you confirm that all parties listed have 100% access to all accounts listed, and funds may be used for any reason by any party without needing to be repaid?” | Yes/No | Required, must be Yes |
| ”Please sign and date this document” | E-signature | Required, includes timestamp |