Yes...you should be concerned (at least theoretically).

The AICPA has a template for what the letter should say, and so far it has worked for any client on whose behalf I've had to send it out to a lender.  

It's a full page that basically says "read the g*damn return, do your own due diligence, and I have NO responsibility to you if they default on the loan (which, is what the lenders are hoping for - someone to go after if the borrower doesn't make the payments).

edit - link to example (last page):

https://www.aicpa.org/content/dam/aicpa/interestareas/frc/downloadabledocuments/third-party-verifica...

If banks were on our team, I would have to say we have morons on our team.  They will try anything to suck someone else in to blame ……………….. just in case the loan does go bad.  If Art Linkletter was still around he could start another television show ------------------- Banks Say the Darndest Things.

I've said things like "According to the client, he said his income was $xxxx.  I have no reason to disbelieve what they said, but I have no further information that what your company already has.".

@abctax55 I like your more much shorter version. I have always referred to it as the STUPID letter, rather than the COMFORT letter, as it never gave me comfort, but made me feel stupid for writing it.