The letter must explain who is gifting the money, where the donor's funds are coming from and the relationship between the donor and the recipient. If you go through a bank they will provide the gift letter form to you to get completed.If someone provides a handwritten letter it is filed away. A gift letter for a mortgage shows your lender that you don't need to repay gift money toward your down payment. A mortgage gift letter is a document that helps satisfy the requirement that a borrower's down payment funds come from legitimate sources. A gift letter is a letter stating that money you receive from a friend or family member is in fact a gift, not a loan. Before a lender allows the gift, you'll also need to furnish a gift letter that states the name, address, and phone number of the donor. This letter at the time the money orders are transferred to the USMS for custody. "Collateral Agent" has the meaning provided in the preamble to this Agreement.