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What are commingled funds in a mortgage?
Commingled funds are personal and business funds held or deposited in the same bank account. In mortgage lending, commingled accounts matter on bank statement loans because the underwriter has to separate business income from personal money, transfers and other deposits before calculating the borrower's qualifying income.
Plenty of sole proprietors run everything through one account. That doesn't disqualify the file, but it changes how the statements are read: a program may treat the account as business or personal, apply different expense assumptions, or ask for more explanation of individual deposits.
Outside lending, commingling usually means mixing client or trust funds with your own. On a mortgage file, it simply means the account isn't cleanly business or personal.
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