> ## Documentation Index
> Fetch the complete documentation index at: https://cameron.mintlify.site/llms.txt
> Use this file to discover all available pages before exploring further.

# Document Formatting Requirements

> How to prepare and submit bank statements, 1099 forms, P&L statements, and asset statements that meet lender requirements

Each self-employed mortgage program has its own primary income document, and lenders have specific formatting and submission standards for each. Providing documents correctly the first time avoids delays and back-and-forth during underwriting.

## Bank Statement Loans

## Acceptable Statement Formats

**Preferred:** Statements downloaded directly from your bank's online portal as PDF files. These are considered "bank-generated" and carry the most credibility.

**Acceptable:** Paper statements scanned to PDF, as long as all pages are complete and legible.

**Not acceptable:** Screenshots, spreadsheets, or statements that appear altered or incomplete.

## Required Information

Each statement must clearly show:

* Bank name and logo
* Account holder name(s)
* Account number (full or partially masked)
* Statement period (start and end dates)
* Beginning and ending balances
* All transactions with dates and descriptions
* Page numbers (e.g., "Page 1 of 3")

## Complete and Consecutive

**Complete:** Every page of every statement must be included, even pages with disclosures or no transactions.

**Consecutive:** Statements must cover a continuous period with no gaps. For a 12-month program, you need 12 consecutive months with no missing months.

**Example:** For a 12-month program ending in March 2024, you need statements from April 2023 through March 2024—all 12 months, no gaps.

## Multiple Accounts

If submitting statements from multiple accounts:

* Provide complete statements for each account
* Cover the same time period for all accounts
* Label clearly which account is personal versus business

## Common Rejection Reasons

| Issue                              | How to Fix                                 |
| ---------------------------------- | ------------------------------------------ |
| Missing pages                      | Download full statement again              |
| Statement period gaps              | Obtain missing month from bank             |
| Blurry or illegible scans          | Re-scan at higher resolution               |
| Cropped or cut-off information     | Ensure full page is captured               |
| Statements don't match application | Verify account holder name matches exactly |

## Tips for Clean Submission

* Download statements directly from online banking when possible
* Check that every page downloaded before submitting
* Verify the statement period covers the full month
* Name files clearly (e.g., "Chase\_Business\_Jan2024.pdf")
* Review for any missing or illegible transaction details

Taking time to prepare clean, complete statements upfront saves days or weeks during underwriting.

***

## 1099 Loans

The primary income documents are your 1099 forms. Formatting requirements are simpler than bank statements since 1099s are standardized IRS forms.

**Acceptable formats:**

* PDF copies downloaded from your client's payment portal or accounting system
* Paper 1099s scanned to PDF
* IRS tax transcripts showing 1099 income (some lenders prefer or require these as verification)

**Required information:**

* Payer name and TIN
* Your name, address, and SSN/TIN
* Income amount by box (Box 1 for NEC, relevant boxes for MISC or K)
* Tax year

**Common issues:**

* Missing 1099s from smaller clients — ensure all forms are included, as lenders total them
* Providing W-2s mixed in with 1099s — keep these separate and clearly labeled
* If a client didn't issue a 1099 (payments under \$600), that income typically can't be counted under a 1099 program

***

## P\&L Loans

The primary income document is a CPA-prepared profit and loss statement. Lenders are strict about format because the P\&L is the sole basis for qualifying income.

**Required format:**

* Prepared on CPA letterhead or with CPA firm identification
* Signed by the CPA with their license number and PTIN
* Dated within 60-90 days of the mortgage application

**Required content:**

* Business name matching your other documentation
* Coverage period clearly stated (e.g., "January 2024 through December 2024")
* Gross revenue broken out by month or quarter
* Itemized expense categories
* Net profit figure

**Preparation level matters:**

* **Prepared** — CPA compiled the statement from information you provided. Accepted by most lenders.
* **Reviewed** — CPA performed limited analysis to assess whether the statement is plausible. Required by some lenders.
* **Audited** — CPA independently verified the underlying data. Rarely required but carries the most weight.

Ask your lender which level they require before your CPA begins work.

***

## Asset Depletion Loans

The primary documents are account statements for each eligible asset. The formatting standards are similar to bank statements — lender-generated, complete, and recent.

**Acceptable formats:**

* Statements downloaded from your bank or brokerage as PDF files
* Paper statements scanned to PDF

**Required information for each account:**

* Institution name
* Account holder name(s)
* Account number
* Statement date (must be within 60-90 days of application)
* Current balance or holdings with market values
* For investment/retirement accounts: individual holdings and their values

**Key differences from bank statement loans:**

* Transaction history is less important than current balances — lenders care about what's there, not deposit activity
* Investment accounts must show individual positions so lenders can apply the appropriate discount rates (typically 70-80% for investments, 60-70% for retirement)
* Large recent deposits (within 60-90 days) require sourcing documentation to confirm the assets are seasoned

**Common issues:**

* Providing summary pages only — lenders need full statements showing all holdings
* Outdated statements — a statement from six months ago won't be accepted
* Missing accounts — if you're counting assets across multiple institutions, every account needs its own complete statement