Mortgage Forms -
1003 Uniform Residential Loan Application
Our forms button, above, is primarily for commercial and nontraditional funding applications. The URLA 1003 borrower application form was created for use in
conventional loan applications, but is now used for FHA and VA loan
applications. It is less suited for commercial and non-traditional
funding, but is often used for those loans as well...if only because it
is a convenient way to record the information that is used on almost
any loan. At the left is a 1003 in a form that is fillable on your
computer. You can fill it in, print it out with the information and
then sign it and fax it or email it by scanning the signed form back
into your computer.
Some (not all) of the other application forms and disclosures are described, below, and
can be viewed and printed by clicking at the left. There are
other federal forms as well as forms that are required by the
individual states and for particular types of loans:Borrower's Certification and Authorization
- A form on which a borrowers certifies that the information that are
providing to the lender is true, and whete the borrower authorized the
lender to obtain a credit history and to provide information to third
parties as required as part of the application process. ECOA - Describes some of your rights under the Equal Credit Opportunities Act. General Disclosures
- Assure the buyer of their rights against discrimination under the
Fair Lending Act, and provide a second place for the borrower to
acknowledge that the information they provided the lender is true, that
they are aware that there are penalties for providing false information
and, finally, where the borrower acknowledges that the lender did not
coerce them to use a particular insurer. HUD Settlement Costs booklet
- This is a very helpful booklet that explains more than just
settlement costs. It is required to be given to borrowers of most
loans.
Patriot Act
- Two pages: One explains the obligation of a borrower to provide
personal documentation which proves the borrower's citizenship and
address. Privacy Act
- Describes the borrower's rights to confidentiality during the
application process and allows the borrower to opt out of contact from
the lender after the loan settles, except for limited contact in regard
to the closed loan. Right to Receive Appraisal
- As it says, this notifies the borrower that they are entitled to
receive a copy of their appraisal provided they request it within90
days of when it was done. Servicing Disclosure
- Guarantees the borrower certain rights if the servicer of their loan
changes, such as that the basic terms of the loan will not change and a
minimum amount of notice they must be given when the servicer changes. Tax form 4506T -
This form allows the lender to obtain copies or transcripts of the
borrower's tax returns. Lenders do not necessarily request the
transcripts except when tax fraud is suspected. Generally, they
are most concerned that the returns were filed more than what was on
the forms.
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