"Am I required to have the borrower fill in that information or is that just the way the lender wants it?"
Simple answer: No. The 1003 in your hands is from the lender not the LO and it's already been through underwriting. For whatever reason they have (retired, asset loan, no income loan, hard money, etc.) they (should) know what they are doing. Just signatures.
Yes, the 1003 can have initials and signatures wherever the lender decides to put them as they customize their loan origination software. For internal compliance reasons usually. |
