The lender wants to verify the documents provided by the borrower regarding his income details. This is why he sends a request form to the borrower's employer and this form is the Verification of Employment. The lender's primary intention is to check the financial status of the borrower prior to approving the loan.
buoy. n. 1. A float placed in water and usually moored, as to mark a location, enable retrieval of a sunken object, or record oceanographic data. 2.
The wave buoy analogy is, however, made complicated by the fact that a ship (due to its relatively large inertia) filters wave excitations to a larger extent than real wave rider buoys, not to mention the more complex geometry of a ship hull and the speed-of-advance problem.