Practice Loan Documents and what to say to borrowers.
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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show | This document shows all the settlement charges involved in your loan. It is self-explanatory. Please take time to look over the numbers.
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show | This document allows borrowers to cancel the loan within three days from today. Please note the date [point to the date]. In other words, you can sign today and change your mind if you are not happy with something that you read in the documents later toni
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show | 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.)
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show | 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].
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Initial Escrow Disclosure | show 🗑
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show | This explains all costs of your loan.
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1st Payment Letter | show 🗑
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show | This is the application that you filled out at the beginning of your loan. You are requested to sign it again to confirm that it is accurate.
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show | This explains the cost of your loan.
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Itemization of Amount Financed Borrower(s) | show 🗑
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Borrower(s) Acknowledgement of Receipt of Disclosures | show 🗑
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show | This document explains that the attorney who drew the documents does not work for you; he or she works for the lender.
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show | Please review and state if you swear (or affirm) to the truthfulness of the contents of the document. (Notarize.)
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Borrower's Closing Affidavit Borrower | show 🗑
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show | This describes when the lender may have to release information about you, the borrower.
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show | 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.)
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Error & Omissions/Compliance Agreement | show 🗑
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show | This is another document that allows correction of the documents for clerical or scrivener’s errors. (Notarize.)
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show | This document lists names that you have been known as. Please sign as stated by names that you have been known by. 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 e
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Notice of Assign, Sale or Transfer of Servicing Rights | show 🗑
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Notice of No Oral Agreements | show 🗑
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Collateral Protection Insurance Notice | show 🗑
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4506-T Cover Sheet | show 🗑
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Patriot Act Form | show 🗑
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Signature Affidavit | show 🗑
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show | This document requests that you swear to information about your marital history. (Notarize.)
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show | In this document, you confirm information about the property related to your loan. (Notarize.)
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show | This document relates to facts about your current property survey. (Notarize.)
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Affidavit of Debts and Liens | show 🗑
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Homestead Affidavit | show 🗑
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show | Real estate services disclosure act
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show | verify SSN accurate
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show | estimate of all closing fees and lender charges
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Borrowers Certification | show 🗑
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Created by:
Tamicablanks
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