What Is Verification of Employment (VOE)?
Verification of Employment (VOE): The lender's confirmation with your employer that you're employed, often repeated just before closing.
Also called: VOE, verbal VOE
Verification of employment (VOE) confirms you work where you say, and often your income and job title.
Types
- Written VOE: your employer fills out a form with your income and job history
- Verbal VOE: the lender calls your employer to confirm you're still employed, usually within 10 business days of closing
- Electronic verification: through payroll databases such as The Work Number
Self-employed borrowers
Lenders verify the business with a CPA letter, business license or state registration.
Good to know
Tell your HR department to expect a call. Don't change jobs, cut hours or switch from salary to commission before closing without talking to your lender first.