Posted by Blueink_TN on 8/31/11 8:05am
Msg #395831

Question on the Borrower Agreement

The Borrower Agreement and Certification document asks to list any liens on the property. On refinances, should we have them list the loan that is being refinanced? Thanks.

Reply by taxpro on 8/31/11 10:41am
Msg #395857

Never have, no problems..... n/m

Reply by BossLadyMD on 8/31/11 11:33am
Msg #395870

I dont get into how to respond to questions. But I can't imagine this being a big deal. There has to be an existing loan/lien otherwise it wouldnt be a 'refi' in the first place

Reply by JanetK_CA on 8/31/11 5:57pm
Msg #395933

Is that the one that says Loan #1, Loan #2, with multiple lines for info on each one? If so, I've always had them fill it in.

Your best bet is to ask your client! Everyone else is just giving their opinion about a document that is in front of you, not them.

Reply by Blueink_TN on 8/31/11 7:30pm
Msg #395938

Yes, that's the one. I think most of us have seen this form. I've submitted the package with "none" written in, and also with the refinanced mortgage info. Never have heard a peep from Title either way. I was just wondering what you'all did and whether there is a "right" answer.
The last time I asked the lender this question I got "Ummm, hold on"...... I would still be holding... Thank's for the responses.

Reply by JanetK_CA on 8/31/11 9:51pm
Msg #395950

I should probably add that's it's been a while since I've seen that version and I'm going from memory.... Could be a dangerous thing!