The East West Bank Statement form is a comprehensive document designed for borrowers who find themselves in a situation where they might default on their loan. It requires a detailed snapshot of the borrower's financial situation, including reasons for potential default, information on the loan and property, borrower's intention regarding the retention or sale of the property, and any other liens that may exist. Additionally, it collects personal and contact information of the borrower and co-borrower, such as names, Social Security numbers, mailing addresses, and phone numbers, and dives into the household composition by asking for the total number of residents and dependents. The form also probes into whether the borrowers have sought credit counseling and lists their assets, including cars, and details their monthly income from various sources against their monthly expenses and liabilities to provide a clear financial status. The borrowers must affirm the accuracy of the provided information and understand that any decisions by the lender will be based on this information. They also authorize the lender to verify this information by ordering a credit report and contacting associated parties. Furthermore, it mentions the implications of entering into a repayment plan or settling the loan in full. Critical to completing the process, the form emphasizes the necessity of including signatures, the current date, recent pay stubs, bank statements, and, for self-employed individuals, profit and loss statements and recent tax returns. This thorough approach ensures East West Bank can make informed decisions regarding the borrower's situation, emphasizing the form's role as a pivotal step for those facing financial difficulties with their mortgage.
Question | Answer |
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Form Name | East West Bank Bank Statement Form |
Form Length | 1 pages |
Fillable? | No |
Fillable fields | 0 |
Avg. time to fill out | 15 sec |
Other names | what is an rma form, vision statement for whom what, write a vision statement, blank rma form template |
Financial Statement
Reason for default: ____________________________ Servicer’s Loan Number: __________________
Property Address: _____________________________________________________________________
Do you intend to keep the property? _______________________________________________________
Is the property listed for sale? □ Yes □ No Are there other liens on the property? □ Yes □ No
Borrower Name: ________________________________ Social Security Number: ________________
Mailing address: ______________________________________________________________________
Total number of persons living at this address: ____ |
Number of dependents at this address: _______ |
Home Phone:_______________________________ |
Work Phone: ___________________________ |
Mailing Address: ______________________________________________________________________
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Total number of persons living at this address: ____ |
Number of dependents at this address: _______ |
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Home Phone: _______________________________ |
Work Phone: ___________________________ |
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Have you contacted credit counseling services? □ Yes □ No |
Number of cars you own: ___________ |
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Monthly Income (Borrower) |
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Monthly Income |
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Gross Wages |
$ |
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Gross Wages |
$ |
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Unemployment Income |
$ |
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Unemployment income |
$ |
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Child Support/Alimony |
$ |
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Child Support/Alimony |
$ |
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Disability Income |
$ |
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Disability Income |
$ |
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Rental Income |
$ |
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Rental Income |
$ |
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Other |
$ |
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Other |
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$ |
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Less: Federal & State Tax, FICA |
$ |
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Less: Federal & State Tax, FICA |
$ |
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Less: Other Deductions |
$ |
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Less: Other Deductions |
$ |
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(401k, etc.) |
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(401k, etc.) |
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Total |
$ |
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Total |
$ |
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Monthly Expenses (All Borrowers |
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Assets and Liabilities (All Borrowers |
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Other Mortgages, Liens, Rents |
$ |
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Checking Accounts |
$ |
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Auto Loan(s) |
$ |
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Savings / Money Market |
$ |
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Auto Expenses / Insurance |
$ |
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Stocks, Bonds and CD’s |
$ |
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Credit Cards & Installment |
$ |
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IRA / Keogh Accounts |
$ |
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Loans |
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Health Insurance |
$ |
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401K / ESOP / Accounts |
$ |
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Medical |
$ |
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Home |
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$ |
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Child Care / Child Support / |
$ |
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Other Real Estate |
$ |
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Alimony |
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Food / Spending Money |
$ |
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Cars with No Liens |
$ |
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Water / Sewer / Utilities / Phone |
$ |
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Other |
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$ |
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Other |
$ |
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Other |
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$ |
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Total |
$ |
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Total |
$ |
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I(we) agree that the financial information provided is an accurate statement of my(our) financial status. I,(we) understand and acknowledge that any action taken by the lender of my(our) mortgage loan on my(our) behalf will be made in strict reliance on the financial information provided. My(our) signature(s) below grants the holder of my(our) mortgage the authority to confirm the information I(we) have disclosed in this financial statement to verify that it is accurate by ordering a credit report and to contact my real estate agent and/or credit counseling representative (if applicable). By signing below, I(we) advise you that if I/we should hereafter agree to a repayment plan for my/our mortgage loan, reinstate my/our mortgage loan, or pay off my/our loan in full then, by doing so and without the necessity of any further action on my/our part, I/we hereby expressly withdraw this request for a loan workout. In that event, I/we hereby direct you to take no further action to process the request for a workout.
Borrower’s Signature: ____________________________________________ |
Date: ______________ |
Date: ______________ |
Before mailing, make sure you have signed and dated this form; include copies of your two most recent pay stubs and bank statements of your checking and/or savings account. If you are
Rev. 2/12/08 |
9300 Flair Drive, 5th Floor, El Monte, CA 91731, Tel. 877.392.6868 – Nasdaq: EWBC |