The issue with the loan process and bank deposit:
Upon reviewing the bank transactions, loan officer came back asking about a deposit in my account.
I will try to make this short, so here it goes:
I had withdrawn 5k cash from my bank, after about a week or so I deposited the 5k PLUS 1k income check back to my bank account.
I have a copy of the deposit slip which shows 5k cash and 1k check which totals 6k and is reflected in the statement as a counter credit of 6k.
The loan officer is asking about this deposit of 6k and where it came from.
What should I do? Will writing an explanation letter explaining this help me with my loan process?
I supplied the withdrawal details along with it. However, they are stating that these are two deposits which are unequal.
So the question is: Had I deposited them as two separate 1 for 1k and the other for 5k, would this prevent from loan officer to make inquiries about this deposit?
The truth is that it is my money and i basically deposited it back along with my check together. Why is this being such as a big deal, are loan officers that stupid they can't understand what the situation is?