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DEFINITIONS

Proof Of Deposit - POD

Definition

Proof Of Deposit (POD) is the verification that the amount on a check that is deposited is correct. When processing checks, the proof of deposit is done manually through comparing the dollar amount written on the check to the amount on the deposit slip. In case of mortgages the borrower must prove that he or she has enough money for the transaction, therefore the borrower must have a proof of deposit for the mortgage.


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