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Signer Documents
Signing Agent Terms for all the documents
| Term | Definition | What to say |
|---|---|---|
| 1-Settlement Statement | This document shows all costs and fees involved in your loan. It is self-explanatory. Please take time to look over the numbers. | |
| 2-Notice of Right to Cancel | allows borrowers to cancel the loan within 3 days from today. Please note the date [point to the date]. primary residence only. Be sure to print 2 copies. Validate recession date. DON'T sign "I wish to cancel" | |
| 3-Deed of Trust or Mortgage | This document is also called a “security instrument.” It gives the lender an interest in your property; it will be recorded in the public (or real estate) records. (Notarize.) pledges property as collateral | |
| 4-Promissory Note or Real Estate Note | The note states how much you have borrowed [point to it], the length of time that you have to pay it back [point to it], and the interest rate [point to it]. | |
| 5-Initial Escrow Disclosure | This discusses your escrow account. summarizes how much you'll pay each month for the coming year, as well as an initial payment. For many, home ownership means taking out a mortgage for 15 or 30 years. | |
| 6-Truth in Lending Disclosure Statement (replaced by Closing disclosure) | This explains all costs of your loan. (may be replaced by "closing disclosure" borrows can compare loans from different lenders. | |
| 7-1st Payment Letter | This explains when your first payment is due. | |
| Uniform Residential Application (also called 1003) | Copy of original loan application | This is the final typed version of your original loan application. You are requested to sign it to confirm accuracy |
| APR & Finance Charge Summary | This explains the cost of your loan. | |
| Itemization of Amount Financed Borrower(s) | This explains the amount financed. | |
| Borrower(s) Acknowledgement of Receipt of Disclosures | This document says that you acknowledge receiving applicable disclosures. | |
| Attorney Representation Notice | This document explains that the attorney who drew the documents does not work for you; he or she works for the lender. | |
| Borrower Affidavit | Borrower Affidavit | |
| Borrower's Closing Affidavit Borrower | Please review and advise if you swear (or affirm) to the truthfulness of the contents of the document. (Notarize.) | |
| Certification and Authorization to Release Information | This describes when the lender may have to release information about you, the borrower. | |
| Document Correction Agreement | This says that you will work with the lender to provide any additional information or funds required, if any, to complete the loan package. (Notarize.) | |
| Error & Omissions/Compliance Agreement | You will work with the lender to provide any additional information requested to complete the loan package. (Notarize.) | |
| Limited Power of Attorney/Correction Agreement | This is another document that allows correction of the documents for clerical or scrivener’s errors. (Notarize.) | |
| Name Affidavit | lists names that you have been known as. If it does not apply to you, you may want to complete the blank with a couple of words that explain that. (Notarize.) | |
| Notice of Assign, Sale or Transfer of Servicing Rights | Right to transfer owners of loan | You understand that this loan may be sold or assigned to a loan servicer. |
| Notice of No Oral Agreements | This says that there are no oral agreements between parties that are not documented in the loan documents. | |
| Collateral Protection Insurance Notice | You understand that you must keep the property insured. | |
| Form 4506 & Coversheet | You agree that the lender may collect a copy of your tax return from the IRS. 1 each for each borrower | Authorizes lender to obtain copies of tax returns |
| Patriot Act Form | This relates to identification of the borrowers. protects against money laundering and terrorism. Only form I fill out. not notarized, and title is "Signing Agent" | This is the ID verification form and needs to read exactly as you government ID reads. |
| Signature Affidavit (AKA statement) | lists names that you have been known as.Do not sign by names that do not apply to you. If it does not apply to you, you may want to complete the blank with a couple of words that explain that. (Notarize.) Wolfgram "never known as me" | |
| Marital Status Affidavit (Title Document) | This document requests that you swear to information about your marital history. (Notarize.) | |
| Refinance Affidavit | In this document, you confirm information about the property related to your loan. (Notarize.) | |
| Survey Affidavit | This document relates to facts about your current property survey. (Notarize.) | |
| Affidavit of Debts and Liens | This document makes statements about liens that you may have on the property that relates to your loan. (Notarize.) | |
| Homestead Affidavit | This says that you state this is your primary home, your homestead. (Notarize.) | |
| Closing Disclosure (effective after 2015) | Outlines lender disclosures to borrower(sent to borrower before appt). Confirm lender on how to handle replaces HUD1 and TILD Not for reverse mortgage | |
| NOTE | most critical. Legal document obligates borrower to replay loan promise. Contract between lender&borrower. Written evidence of indebtedness. Terms of loan | |
| HUD1 | Itemized. actual closing services provided, fees charged. loan terms, fees, costs. Inc reverse mortgages | |
| Occupancy affidavit | primary residence notice. financial status unchanged, information accurate. | |
| Limited POA | grants agent of lender to fix clerical errors, not terms of loan. (lets them also sell it) | |
| Compliance Agreement | Same as POA, but its borrows responsibility to correct clerical errors. | |
| Notarial Evidence | Summary of all items notarized (fill out before meeting with borrower) | |
| HUD/VA addendum | Supplement to Residential Loan Application | Common addendum to the Uniform Resi Laon App that may appear for VA and HUD loans |
| Borrowers Certification | certifies authenticity of loan docs | This doc certifies all of the fino provided in the loan app is true and complete |
| IRS W-9 | verify SSN accurate | Form verifies your SSN |
| Servicing Disclosure | Right to sell loan | The lender has the right to sell transfer or serving rights on the loan |
| Loan Estimates | initial estimate of all closing fees | Loan estimate all closing fees and prepaid and charges. |
| Good Faith Estimates (AKA GFE) | Comparison shipping guide. HELOC or Reverse loans only | estimate of all closing fees and lender charges |
| RESPA | Real estate services disclosure act | |
| General Closing Instructions | conditions for disclosing and executing and correcting docs. Don't sign. | outlines general requirements to settling agent at title company |
| Specific closing instructions | detailed conditions for closing loans. compare list to what I actually received | to closing agent with detailed closing stipulations and requirements for transaction |
| Tax info sheet | Impounding info. Don't show to borrowers. | |
| Positive proof of ID & Notary signature affidavit | Don't Complete | Cant legally fill out |
| Notary ID certification | Don't Complete | Cant legally fill out |
| Blank Acknowledgment Certs | Don't Complete | Cant legally fill out |
| Impound Authorization | check box they would like. This doc allows lender to college real estates taxes and insurance to be paid to of escrow account | This doc allows lender to college real estates taxes and insurance to be paid to of escrow account. If you elect no, you are responsible for payments. |
Created by:
awolfram
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