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Loan signing Agent exam > Loan Definitions > Flashcards

Loan Definitions Flashcards

1
Q

Survey Affidavit

A

This document is related to the facts about your current property survey.

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2
Q

Truth in Lending Disclosure Statement

A

The explanation of all costs of your loan.

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3
Q

Itemization of Amount financed

A

Explains the Amount Financed.

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4
Q

Refinance Affidavit

A

This confirms the information about the property in your loan.

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5
Q

Borrowers Acknowlegdement of Receipt of Disclosures

A

This document acknowleges you received applicable disclosures

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6
Q

Deed of Trust or Mortgage

A

This documents states that the lenders has interest in the property in the loan and can record in the public

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7
Q

Homestead affidavit

A

This documents states that this property will be your primary home.

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8
Q

affidavit of Debts or leins

A

This documents show any leins or debts on your property in the loan

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9
Q

marital status affidavit

A

THis states you swear to your marital history

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10
Q

Signature affidavit

A

This lists all of the names you have been known by. Please sign next to the names you recognize. Please do not sign next to the names that are NOT known to you.

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11
Q

Patriot Act Form

A

This documents identifies the borrower

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12
Q

4506 -T Cover Sheet

A

This document states that the lender may pull a copy of your tax returns from the IRS

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13
Q

Form 4506

A

This form states the lender may pull a copy of your taxes from the IRS.

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14
Q

Collateral Protection Insurance

A

This states that your property must be insured.

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15
Q

Notice of No Oral Agreements

A

This states that there are no oral agreements that are NOT in the loan agreement.

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16
Q

Notice of Assign, Sale or Transfer of Servicing Rights

A

This states that the lender may sell or assign your loan to another loan servicer

17
Q

Name Affidavit

A

This documents lists all of the names you may have been known by. Please sign your name as it shows next to the name that you recognize. If you do not recognize a name then do not sign next to it.

18
Q

Error & Omissions / compliance Agreement

A

This states that you will work with the lender with any additional information they may need to complete the loan process.

19
Q

Document Correction Agreement

A

This states the borrower will work with the lenders with any additional information or funds needed to complete the loan process.

20
Q

Certification and Authorization to Release Information

A

This states that the lender may release some of your information.

21
Q

Borrower Affidavit

A

PLease review and swear to the truthfulness to the contents in the loan.

22
Q

Borrower’s closing affidavit

A

Please review and swear to the truthfulness to the contents of the loan.

23
Q

Attorney Representation Notice

A

This states that the attorney is for the lender and not you.

24
Q

Uniform Residential Application

A

This is the original application you filled out. Please review everthing is correct and sign again.

25
Q

1st Payment Letter

A

This states the date of your first payment

26
Q

Promissory Note or Real estate Note

A

This document shows the amount you owe, the time you have to pay it off and the interest rate.

27
Q

Notice of Right to cancel

A

This states you have three days from today to cancel.

28
Q

Settlement statement

A

This shows all of the statement charges in your loan.

29
Q

Initial Escrow Disclosure

A

This document discusses your escrow

30
Q

APR & Finance Charge Summary

A

This explains the cost of your loan.

31
Q

Itemization of Amount Financed

A

This explains the amount financed.

32
Q

Limited Power of Attorney / correction Agreement

A

This states the borrower will allow the lender to make clerical corrections

Loan signing Agent exam (1 decks)

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