Difference between WebUI.waitForElementNotPresent() and WebUI.verifyElementNotPresent()?

I’m trying to figure out the difference between calling WebUI.waitForElementNotPresent() and WebUI.verifyElementNotPresent(). If I understand the documentation correctly, both will fail the test (depending on failure handling settings). Both take a timeout and seem to perform the exact same test. Am I missing something obvious?

WebUI.waitForElementNotPresent() : this waits until the element disappears from page. Eg., waiting for “loading image” to disappear to go to next step.

WebUI.verifyElementNotPresent(): this one is simple where you just put a verification if element is not present on screen.