Freddie Mac Form 90, Verbal Verification of Employment , is a document completed upon request of Freddie Mac to review the employment history of a potential borrower, determine the borrower's job stability, and check the borrower's income history. It is completed by contacting the borrower's current employer to ascertain and confirm specific details about the borrower's employment.
This form was released by the Federal Home Loan Mortgage Corporation (Freddie Mac) - a government-sponsored enterprise that supports lenders providing homeownership and rental housing. The latest version of the form became effective on , and you can download a fillable Freddie Mac Form 90 through the link below.
You are required to provide the following information in Freddie Mac Form 90:
A mortgage lender will verify your employment by contacting your employer directly and possibly reviewing recent income documentation. Typically, the verification is obtained when the lender calls the employer to discover the necessary information. The lender will verify your salary details, position, length of employment, and the likelihood of your employment to continue. All these particulars let lenders calculate several metrics to determine if the borrower will repay a loan in full and one time.
The lenders have to comb through your finances to decide if you are a good candidate for a mortgage accessing your default risk, chances of missing a mortgage payment, or being foreclosed upon. A Verbal Verification of Employment Form allows the lender to see you have consistently been employed and will maintain employment to ensure timely mortgage payments in the future.