schirallicpa Posted January 19, 2017 Report Share Posted January 19, 2017 Are you kidding me?! They want my signiture on letterhead stating that the guy owns his Sch C business. Unbelievable. Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted January 19, 2017 Report Share Posted January 19, 2017 13 minutes ago, schirallicpa said: Are you kidding me?! They want my signiture on letterhead stating that the guy owns his Sch C business. Unbelievable. We don't provide such documents. If you wish, I can send you a copy of what we do create, then give to the client to provide to the lender. It is a situation not unlike a huge minefield. 1 Quote Link to comment Share on other sites More sharing options...
Medlin Software, Dennis Posted January 19, 2017 Report Share Posted January 19, 2017 What they want is to add you to potential deep pockets should the loan go bad. Sounds like a separate bank, not the one your client uses, as if it was the client's bank, they would be able to verify income, and probably expenses, by looking at records they already have. 3 Quote Link to comment Share on other sites More sharing options...
Max W Posted January 19, 2017 Report Share Posted January 19, 2017 These requests come from the, oftentimes stupid, loan underwriters. 4 Quote Link to comment Share on other sites More sharing options...
JMovichEA Posted January 19, 2017 Report Share Posted January 19, 2017 Let them do their own due diligence. I don't provide any kind of "comfort letters" 4 Quote Link to comment Share on other sites More sharing options...
schirallicpa Posted January 19, 2017 Author Report Share Posted January 19, 2017 33 minutes ago, Jack from Ohio said: We don't provide such documents. If you wish, I can send you a copy of what we do create, then give to the client to provide to the lender. It is a situation not unlike a huge minefield. Yes - please - I would like to see what you send them. Quote Link to comment Share on other sites More sharing options...
BHoffman Posted January 19, 2017 Report Share Posted January 19, 2017 Here is what I send them: 11 Quote Link to comment Share on other sites More sharing options...
JMovichEA Posted January 19, 2017 Report Share Posted January 19, 2017 There's some sample letters here if you absolutely have to send something: http://www.cpai.com/business-insurance/professional-liability/ThirdPartyVerificationLetters 4 Quote Link to comment Share on other sites More sharing options...
Lion EA Posted January 20, 2017 Report Share Posted January 20, 2017 I've told clients to get a certificate from the Secretary of State! I don't send comfort letters. When a client really gets to me, I send the client a letter that beats around the bush about the bank doing its own due diligence and state which tax form I file for the business and a bunch of nothing. I send to client who can do whatever they want with it. 5 Quote Link to comment Share on other sites More sharing options...
Catherine Posted January 20, 2017 Report Share Posted January 20, 2017 11 hours ago, Lion EA said: a letter that beats around the bush Over the years I have written a couple of great say-nothing letters that include the buzzwords that let the mindless underwriters check their little checkboxes. ALL such letters go to the client only, for them to send to whomever is whining about wanting it. 2 Quote Link to comment Share on other sites More sharing options...
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