New to Canada issues

I recently came across a problem with a couple which I had not encountered before. My clients wanted to buy a home after renting for the year and a half since they arrived in Canada. They saved diligently and were able to put down a 10% down payment. When I asked them if the money was in the bank they replied "yes".
I told them that I would need an employment letter and recent pay stub and 3 months of bank statements. They quickly responded with the required items.
When I reviewed the bank statements I found that they had just put the bulk of the downpayment money into their account a week before. The reason CMHC and the lenders ask for the 3 months of bank statements is to show that the people have saved the money over time.
This is a requirement of the Anti- Money Laundering laws passed a few years ago.
I asked them where the money came from and they said they had saved it. When I asked where, they told me that in their country people do not trust banks so they put the money under their mattress. In this case, they rented a safe deposit box and saved it there.
When I spoke to the lender they said this was not acceptable. The funds could easily be the results of crime..
In the end, the bank they had their account in was the only lender who could help them.
Personnel at the bank had seen them withdraw hundreds of dollars and then go to their safe deposit box. Whey they never said anything to this couple I'll never know.
Be sure to put your funds for downpayment all in one account. Make sure your funds are there for at least 90 days. If you are using RRSP's you must have held them for at least 90 days.
If you follow this simple rule, you can avoid disappointment and get into the house of your dreams faster.If you have any questions about down payments and the New to Canada program , contact me via my website.