given financial transaction. A document of this type is sometimes prepared at the request of a seller who is considering an offer from a buyer. The seller
of the transaction.
Ease of Qualification
These are true cash collateral accounts.
The Proof of Funds is valid for the 90-day period stated
and may be extended for one year or more.
No credit report
No credit scores
No Business plan
No Executive summary
No LTV ratio
No real estate appraisal
Types of Proof of Funds
Top 50 Bank Proof of Funds Letter
Top 50 Bank Blocked / Reserved Funds Letter
Top 50 Bank Comfort Letter
Top 50 Bank Swift MT760 (Cash Accounts / BG's / SBLC's)
Top 50 Bank Swift MT799
NOTE: Our Minimum Proof of Funds amount is USD
]$1,000,000.00 (Ten Million United States Dollars) for Letters
and USD $50,000,000.000 (Fifty Million United States Dollars)
for MT760's.
Requirements
This is a 'funds first' transaction. Because of the considerable
costs involved in providing Proof of Funds we cannot initiate
the process of creating an account for you without seeing the
fee upfront in escrow. We will not accept a delay of payment
until your other transaction closes.
The fee is paid into a third-party escrow account so you
are protected. You remain in control of the funds until
verification is completed.
We use a neutral third-party escrow company as the escrow
agent. Fees need to be deposited into an escrow account
prior to bank account creation. Once you receive the verified
bank account letter, you then authorize the release of the fees
held in escrow. This ensures that all parties perform as agreed.
Set-up time to after a fully executed package is received and
funds are in escrow is 3-5 days.
Step by step process
Complete Submission Checklist Items and Form (see below).
A contract is then sent back along with escrow instructions.
Once the fee is wired into escrow we will have the bank
account set-up.
Within 48-72 hours your POF account will be ready to be
verified.
POF Letter is sent directly to Escrow from Issuing Bank or an
MT799 is sent via Swift to Receiving Bank and an MT799
transmission receipt (export copy) is sent to escrow directly
from Issuing Bank.
Submission Checklist and Forms
Express POF Application form
Client Information and Proof of Funds Request Form
Request Form
Identification: Provide a Passport Color Copy
Client Origin of Payment : Provide client Bank Statement
For Origin of Payment
Email Above Submission Items To:
newloans@americapdirect.net
Proof of Funds Text Drafts For Your Banker's Review
and Confirmation
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