Common Loan Signing Documents

LOAN SIGNING AGENT DOCUMENT GUIDE
Borrower-Friendly Explanations

PROMISSORY NOTE "This is your promise to repay the loan. It contains the loan amount, interest rate,

payment amount, and repayment terms."

DEED OF TRUST "This document secures the loan with the property. It is recorded in the county land

records."

CLOSING DISCLOSURE (CD) "This summarizes the financial details of the transaction, including loan costs,

prepaid items, escrow amounts, and any funds due to or from you."

ALTA SETTLEMENT STATEMENT / SETTLEMENT STATEMENT "This is an itemized accounting of all money

coming into and going out of the transaction."

RIGHT TO CANCEL (NOTICE OF RIGHT TO RESCIND) "This provides a three-business-day period during which

eligible borrowers may cancel the transaction. The document explains how to exercise that right."

FIRST PAYMENT LETTER "This identifies the date and amount of your first mortgage payment and where

payments should be sent."

INITIAL ESCROW DISCLOSURE "This explains how funds will be collected and held for property taxes and

homeowners insurance."

MORTGAGE SERVICING DISCLOSURE "This explains who will collect and process your mortgage payments

and that servicing may be transferred in the future."

LOAN ESTIMATE "This document compares the estimated costs and terms originally provided during the

loan application process."

W-9 "This form provides taxpayer identification information for tax reporting purposes."

IRS FORM 4506-C "This authorizes the lender to obtain tax return transcripts directly from the IRS."

BORROWER'S CERTIFICATION AND AUTHORIZATION "This authorizes verification of information provided

during the loan application process."

PATRIOT ACT / CUSTOMER IDENTIFICATION FORM "This is used to verify identity as required by federal law."

OCCUPANCY AFFIDAVIT "This confirms how the property will be occupied, such as a primary residence,

second home, or investment property."

SIGNATURE OR NAME AFFIDAVIT "This confirms that any name variations appearing in the loan documents

refer to the same person."

IDENTITY AFFIDAVIT "This verifies the identity of the signer and may include identifying information."

COMPLIANCE AGREEMENT "This states that if clerical or administrative corrections are needed later, the

parties agree to cooperate in making those corrections."

ERRORS AND OMISSIONS AGREEMENT "This provides for correction of minor clerical errors that may be

discovered after closing."

SURVEY AFFIDAVIT "This addresses matters related to property boundaries, encroachments, or survey

issues."

OWNER'S AFFIDAVIT "This contains statements regarding ownership, possession, liens, and other property-

related matters."

AFFIDAVIT OF TITLE "This confirms certain facts about the property's ownership and title status."

INDEMNITY AGREEMENT "This provides protection to certain parties if specific issues arise after closing."

HOLD HARMLESS AGREEMENT "This allocates responsibility for certain identified matters and provides

protection against related claims."

GAP INDEMNITY "This provides protection against matters that could arise between the title search and the

recording of documents."

LIEN INDEMNITY "This addresses potential lien claims and provides protection if certain liens later appear."

PAYOFF AUTHORIZATION "This authorizes the payoff of existing loans or obligations from closing proceeds."

PAYOFF STATEMENT "This reflects the amount needed to satisfy an existing loan."

FLOOD HAZARD DISCLOSURE "This identifies whether the property is located within a designated flood

zone."

HAZARD INSURANCE AUTHORIZATION "This confirms the existence of homeowners insurance and

authorizes related actions concerning the policy."

ESCROW WAIVER AGREEMENT "This acknowledges that the borrower has elected to manage taxes and

insurance directly rather than through an escrow account."

TITLE COMMITMENT "This outlines the conditions under which title insurance will be issued."

OWNER'S TITLE INSURANCE POLICY "This provides title insurance coverage for the property owner, subject

to policy terms."

LENDER'S TITLE INSURANCE POLICY "This provides title insurance coverage for the lender's interest in the

property."

CLOSING PROTECTION LETTER (CPL) "This provides certain protections relating to the closing process and

settlement services."

PRIVACY NOTICE "This explains how personal information may be collected, used, and shared."

WIRE FRAUD DISCLOSURE "This contains information regarding wire transfer procedures and fraud

prevention."

HELOC AGREEMENT / OPEN-END CREDIT AGREEMENT "This establishes the terms of the home equity line of

credit, including credit limits, advances, repayment requirements, and interest rate information."

HELOC PAYMENT EXAMPLES "This provides examples showing how payments may change under different

borrowing and interest-rate scenarios."

INITIAL DRAW AUTHORIZATION "This authorizes the initial disbursement of funds from the line of credit."

REVERSE MORTGAGE LOAN AGREEMENT "This outlines the terms of the reverse mortgage and available

payment options."

TOTAL ANNUAL LOAN COST (TALC) DISCLOSURE "This provides projections designed to help borrowers

understand the long-term cost of a reverse mortgage."

COUNSELING CERTIFICATE "This confirms completion of the counseling session required before obtaining a

reverse mortgage."

NON-BORROWING SPOUSE DISCLOSURE "This explains certain rights and limitations affecting a spouse

who is not a borrower on the loan."