Documents Quiz +s 1-17

Deed of Trust

  • Security instrument in refinances
  • Involves trustee
  • Trustee handles foreclosures
  • Difference from mortgage
  • Trustee’s name on the Deed
  • Name check
  • Initialing on the page
  • Importance of Note
  • Boxes indicating condominiums
  • Recording the acknowledgment

Instruction To Escrow/Title/Closing Agent

  • Instructions for loan handling
  • Requirements on title policy and hazard insurance
  • Not a settlement agent
  • Cost breakdown

Escrow Waiver Letter

  • Borrower paying their taxes and insurance
  • Penalties for non-payment

Letter of Loan Transfer Document

  • Loan sold to JP Morgan Chase

Hazard Insurance Authorization, Requirements, and Disclosure Document

  • Homeowner insurance requirements

Notice of Right to Copy Appraisal

  • Borrower’s right to appraisal copy

Compliance Agreement

  • Agreement on correcting clerical errors

CFPB 2015 Disclosure Agreement

  • Key loan terms and estimates

Flood Hazard Determination

  • Clarification on flood insurance

Tax Record Information Sheet

  • For Lender only

Servicing Disclosure Statement

  • Potential assignment, sale, or transfer of loan

Notice of Assignment, Sale, or Transfer of Servicing Rights

  • Loan sold notice

Hazard Insurance Endorsement Letter

  • Mortgage clause direction

The Housing Financial Discrimination Act

  • Disclosures for the Borrower

Borrower’s Certification & Authorization

  • Borrower’s truthfulness and information release

Request for Transcript of Tax Return

  • Permission for Lender to access tax transcript

Request for Taxpayer Identification

  • Identification number provision

Signature/Name Affidavit And the Importance of Oaths

  • Oath administration during a signing