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Critical Documents - Coggle Diagram
Critical Documents
KEY QUESTION: Does this document require:
SIGNATURE
INITIALS
DATE
NOTARIZATION
REVIEW ONLY
GIVE THE BORROWER A PLACECARD:
Example
: 6/3/2023 - Joi Ashley Nicole Newberne (signature) - JANN (initials) [
Add "Jr." after initials, if applicable
NOTICE OF RIGHT TO CANCEL
Borrower has 3 business days to cancel
Only applies to FOUR types of loans, ON A
PRIMARY RESIDENCE
(not a
purchase
on a primary residence)
Refinance Loans
First and Second Loans
Reverse Loans
HELOC Loans
TWO copies go to the borrower
CLOSING DISCLOSURE
If present, the
TRUTH IN LENDING DISCLOSURE STATEMENT
will not be present
TRUTH IN LENDING DISCLOSURE STATEMENT
ONLY
present if the
CLOSING DISCLOSURE
is not present
DEED OF TRUST
-or-
MORTGAGE
Referred to as the
"Security Instrument"
in Section 3 in the
NOTE
HUD-1
NOTE