In most cases, lenders will allow borrowers to come to the table with money that came to them in the form of gifts. But be careful how you accept the money and where you stash it.

Sean Young, a loan officer with FirstCal Colorado in Greenwood Village, says that if you fail to accept the gift in a "lender-friendly" way, the underwriter could just as easily not allow it.

The wrong way is to deposit the cash directly into your bank account. Rather, open a new account and follow a series of steps, keeping detailed records of each move.

Here are Young's six steps to success with down-payment gift funds:

1. Provide an acceptable gift letter signed by all parties. Typically, your loan officer will provide the proper letter. You just have to get it signed. But if not, the letter should read like this:

"I am the (relationship to recipient) of (name of recipient) and this letter serves as evidence that I am gifting (name of recipient) (amount of gift) to be used for the purchase of the home at (complete address of property). This is a gift, not a loan, and there is no expectation of repayment. Signed, (signature of gifter)"

2. Provide a bank statement from the gifter's account to show proof of funds.

3. Provide documentation of the gifter's withdrawal of funds via teller receipts in the exact amount of the gift, stamped and signed by the teller.

If the gifter is wiring you the money, provide a copy of the wire transaction. If the gift is in the form of a check or money order, provide a copy of it and then an updated statement after the check has cleared the account.

4. Provide documentation of your deposit of the funds into your new account via teller receipts in the exact amount of the gift, again stamped and signed by the teller.

Make sure that gifted funds are not commingled with other funds at the time of deposit. For example, if the gift is for $10,000, the bank's deposit slip should indicate that a $10,000 deposit was made, nothing more, nothing less. Don't add a random deposit to the transaction. So if you are depositing an additional $100, it should be in a separate deposit.

5. Provide a new bank statement showing the deposit and updated balance, making sure the statement goes back to the date of the last statement you provided the lender to cover any gaps.

6. Be certain all your statements show your name, at least the last four digits of the account number, the bank's name and balance.

Any time you get a statement from a bank teller, be sure it is stamped by the teller and dated.  If you print statements online, make sure the statement shows the URL.

Detailed? Yes. Cumbersome? You bet. But absolutely necessary, Young says.

Lenders want to make sure of two things, the Colorado loan officer explains. First, they want to make sure that the cash gift is "clean," rather than laundered, money. And second, they want to make sure the gift is really a gift, and not a loan in disguise.

The Housing Scene erred in a recent column on the VA loan program. Anywhere in the country, a veteran can borrow up to $417,000 without any money out of his or her own pocket -- much more than the $144,000 we mistakenly reported earlier. But there are 46 counties, largely on the east and west coasts, where the maximum is considerably higher. For every $4 borrowed above the max, however, the vet must put up $1.

You tip everyone else, so why not your real estate agent?

A great gesture for a job well done, perhaps. But tipping goes against the National Association of Realtors' Code of Ethics.

An agent should never accept money directly from a client, even if he's gone above and beyond on their behalf. All monies should pass through the agent's broker, and be reported on the HUD-1 settlement sheet.

Here's how Ranee Bray of TCP Real Estate in Austin, Texas, handled it recently when she was handed a substantial tip from a client who was more than satisfied with her work: She gave the money back and sat down with the client to come up with an alternative way to show her gratitude.

Their answer, or as Bray calls it, "an alternative blessing they could bestow upon me," was a generous donation to the agent's favorite charity in the agent's name. "What a beautiful gift of gratitude," the agent says. The donation "is a true blessing that I am proud to accept."

Starting next January, lenders will be required to collect escrow funds from borrowers who have flood insurance, just like they do for property taxes and hazard insurance.

Though the proposed rules won't take effect until almost a year from now, it won't hurt borrowers to start getting familiar with them so they won't be shocked when their house payments go up come Jan. 1.

Under the rule, which is still subject to a few changes, regulated lending institutions must escrow premiums and fees for flood coverage on loans secured by residential properties starting next year. Besides new mortgages made after that date, the rule also would apply to older loans that are increased, extended or renewed.

Also, come the first of the year, borrowers already on the books must be given the option of escrowing their flood insurance premiums if they so desire.

In a key change from previous proposals, the rule would eliminate the requirement that would have forced borrowers to obtain coverage for a structure that is a part of a residential property located in a special flood hazard area if that structure is detached from the house and does not also serve as a residence. But lenders can require insurance on the detached structures if they determine that it is necessary to protect the collateral securing the mortgage.

After several false starts, the latest federal edict on escrowing for flood coverage was issued late last year by five regulatory agencies: the Federal Reserve Board, Farm Credit Administration, Federal Deposit Insurance Corp., National Credit Union Administration and the Comptroller of the Currency.

The rules implement changes required by last year's Homeowner Flood Insurance Act, which itself amended the Biggert-Waters Act of 2012.

What's the optimal number of photographs of your property that should accompany your listing? The answer is 10-15, according to Point2, an online marketing service for real estate professionals.

While too few photos are not likely to pique the interest of buyers, too many won't necessarily kill their curiosity. But too many might be just enough to allow people to move on to the next property without ever contacting your agent, the company says.

"Too many photos may answer a potential buyer's questions, meaning there's less incentive to contact the listing agent," according to Point2. "Like any good sales pitch, you want to give enough information to interest people, but not so much that they don't need to contact you."

Too many sellers unwittingly put their homes at risk when they buy combination lockboxes at their local hardware stores so agents can gain access to their properties. That's the warning from super agent Rhonda Duffy, Georgia's No. 1 realty sales professional for 10 consecutive years.

Duffy says using store-bought lockboxes is akin to using weak online passwords. They're not secure at all, the Atlanta agent says, about as dangerous as broadcasting your passwords on national television.

The solution? "Always use a real estate agent's lockbox," she advises. "It has accountability, security and no combination dials to turn. Only actively licensed real estate agents can gain entry."

Another benefit: Agents can run "showing reports" telling sellers exactly how many agents came into their home, when and who they were."

You apply for a mortgage. You fill out all the paperwork and send it in. And then a few days later, you get a call from a complete stranger asking questions such as, "Please explain the NSF on your VOD."

What's up with that? This isn't the same guy or gal you spoke with when you applied. So what's going on here?

The person on the other end of the line is part of your loan officer's mortgage team. If the loan officer was on the ball, he or she should have told you about them.

Indeed, Karen Deis, who has been mentoring loan officers and real estate professionals for more than a decade, tells her students to give their clients a handout up-front introducing their team, including names, phone numbers, photographs and each person who may contact you.

Deis, of Hudson, Wisconsin, used such a handout during the 15-plus years she was a loan officer, and she swears the simple introduction eliminated half her phone calls -- and a lot of her clients' confusion.

"At every face-to-face loan application, my clients received a printed flyer with the names, pictures and general job description of what each staff member does and how to contact them directly," she says. "If they applied online, they received (this information in) an email."

Unfortunately, not every mortgage originator follows Deis' advice. In case yours didn't, Deis shares, below, the members of a typical mortgage team and what each one does. Here are the four key players:

-- Loan coordinator: This team member puts the pieces of the puzzle together. The loan coordinator works with everyone from the credit bureaus, appraisers, title company and inspectors to the real estate agents or builders to make sure every piece of your financial picture comes together in a timely manner.

-- Loan processor: This person does much the same thing as the coordinator, but also puts each puzzle piece under a magnifying glass. The loan processor verifies the information that appears on your application, checks your credit report, verifies your income, makes sure you really have enough money in the bank to close and makes certain the appraisal won't screw up the deal.

The processor "will call you from time to time," says Deis, just to be sure the file that's submitted for approval is complete. That way, the underwriter has your total financial footing available when deciding if you seem like a solid borrower who can make payments on time, each and every month.

Sometimes the underwriter needs more information or needs to clarify something. Consequently, the processor may call you several times for additional information.

-- Closing coordinator: This team member works with the title company to obtain a clear title to the property.

If you are buying a new house, every lender requires a title insurance policy that shows the current property owner, real estate taxes, mortgage and tax liens and any deed restrictions listing the things you can or cannot do once you own the property.

If you are refinancing, the coordinator will order a title policy on your behalf and also obtain a payoff document from your current lender, explaining exactly how much you still owe. According to Deis, there's a three-day waiting period after you sign all the documents at closing before your old loan can be paid off.

The coordinator will also advise you about obtaining or updating your homeowners insurance policy. Every lender requires this to be in place at closing; otherwise, you won't be able to close.

If you are expected to bring money to the closing table, the closing coordinator will make every attempt to advise you of the exact amount you will need. Sometimes the figure isn't known until the last minute, but the coordinator's number is usually pretty close. Nevertheless, don't be surprised if the figures don't match and you have to ante up a few more dollars.

-- Loan officer: This is the person you applied with in the first place. He or she is the team leader, who will strive to make sure the process is as smooth as possible and that your loan closes on time. According to Deis, the loan officer should know the status of your application at all times.