December 17, 2024 at 11:26 pm

Loan Officer Demands Proof Of Hundreds Of Cash Deposits, So Business Owner Delivers Over Seven Hundred Photos In Response

by Heather Hall

Source: Reddit/Malicious Compliance/Pexels/Pixabay

Not every job involves neatly organized pay stubs or direct deposits, and that can make certain processes, such as applying for a home loan, a little trickier.

So, what would you do if your bank demanded proof of income for hundreds of cash deposits from your business?

Would you find a concise way to get the info to them?

Or would you submit it one receipt at a time?

In the following story, one business owner finds themselves dealing with this exact request.

Here’s how they handled it.

Proof of deposits for home loan…you asked for it

I own a Flea and Farmer’s market, all cash from booth rentals.

I’ve been in business for 40 years, and it’s a S Corp business.

I’m buying a home, and they can’t understand why I’m making large cash deposits and want proof of some of the deposits.

You got it!

Be careful what you wish for.

We use a standard 4 receipts per page book and get a lot of 10 and 20$ receipts.

To give them what they want, I separate every page into single receipts, take pictures, and upload them to the loan company—over 700 pictures total.

The loan is approved.

Going through those photos must have taken a long time.

Let’s see what the fine folks over at Reddit had to say about this.

A criminal attorney went through a similar process.

Source: Reddit/Malicious Compliance

This person compares buying a home to an invasive exam.

Source: Reddit/Malicious Compliance

According to this comment, there’s a lot of money in the flea market industry.

Source: Reddit/Malicious Compliance

Here’s advice from a mortgage underwriter.

Source: Reddit/Malicious Compliance

Yet another underwriter offering insight.

Source: Reddit/Malicious Compliance

You gotta do what you gotta do – and it’s not always pretty.

Glad he was able to provide all the receipts and get his loan approved!

If you liked that post, check out this post about a woman who tracked down a contractor who tried to vanish without a trace.