What documents need a WET SIGNATURE in the loan process?

***UPDATE: Thank you to my readers that reply back with helpful feedback. We actually work with a few lenders that don’t need all these docs to have a wet signature but apparently the rule varies from lender to lender. You can assume that most lenders with require all or most of these docs to have wet signatures with some exceptions.***

 

During the loan process you will be signing document after document but thanks to modern technology, many of the documents can now be electronically signed using software like Docusign.com and Calyx point. This makes everything easier for both the borrower and the loan officer but according the law there are still some documents that need an old fashion wet signature. These include:

 

1. 4506-T – this is to a request for Individual Tax Return Transcript
2. Intent to Proceed – obviously this is the borrower’s intent to proceed after they accept of the terms and fees listed in the Good Faith Estimate
3. Borrowers authorization – a form signed by the applicant authorizing the lender to obtain and verify information and documentation from third parties that is needed in connection with the application for mortgage loan.
4. Credit Card Authorization – A legal document, signed by a cardholder, that grants a merchant permission to charge their credit card for a fixed amount indefinitely. 
5. Authority to release information –  consent from the borrower to examine and obtain copies of records, statements, credit ratings, and information regarding my background.

At Valor, we understand the process can be confusing and difficult but we want you to know that we are here to make everything easier for our clients. Our job is to deal with the confusion to make the process as simple as possible. We love to answer any questions and would be happy to generate a free quote and consultation to anyone looking for a residential or commercial loan. 

Allow me the opportunity to demonstrate my prompt and professional handling of your loan transaction. Please call me on my cell phone or email me any time to get your free quote and consultation.

Camille Patterson /Valor Lending Group / 858-732-2320 / CPatterson@ValorLending.com

 

 

Recap of our Loan Products:

1). Stated Income Loans (Great for business owners and self-employed) 20% down / 620+ credit score / 2 years business license / 12-24 months bank statements

2). Foreign Nationals Loans (no social security or residency required) 35% down / Foreign passport / Document income outside US

3). Hard Money Loans (28-35% down / minimal documentation) Fund in 7-10 days. 480+ credit score

4). Raw Land and Construction (Bridge Loans) including Spec Home! 75% loan to cost (cost of land and construction budget)

5). 3% down Conventional (Lender paid PMI)

6). Residential Income/Investment Property (including Mixed Use) Purchase and Refinance Loans 20-35% down depending on property, credit etc.

7). Farms, Vineyards, Ranches and Agricultural Properties (25-30% down)

8). Flipper Loans (Flip a property with one of our many options) 30% down we finance acquisition and rehab funds / 1-2 year terms

9). 10.1% down Jumbo’s with NO MI up to $2.5mm

10). Manufactured Housing / Mobile Homes (20% down / 620+ credit score) must be tied to real property/Must be at least double wide/Must be built after June 15th 1996 /

11). Acreage Properties

12). Commercial Loans up to $100mm / Purchase and Refinance Loans 25-35% down depending on property, credit etc. (Almost all property types)

We also offer:

1). 10, 15, 20, 25, 30 year Fixed, Conventional Conforming Loans (under $424k) 30 year fixed
2). High Balance Conforming aka Super Conforming (from $424k-$636k) 30 year fixed
3). Jumbo’s to $10 Million / Super low rates! / 10% down Jumbo to $2.5mm
4). FHA, VA, USDA
5). ARM’s
6). Reverse mortgages up to $10 Million Value
7). Refinance including Cash Out

I am able to take a Loan Application on a moment’s notice & will be happy to provide Pre approval letters.

Please do not hesitate to call on me on each and every scenario and we will ID best programs.

 

Camille Patterson
Loan Officer

CaBRE# 02035349

NMLS#1517035

Valor Lending Group
‘Pride in Lending’

Petco Park – Diamond View Tower
350 10th Ave – 10th Floor
San Diego, CA

Direct: (858) 732-2320

Office: (619) 344-2640

Fax:    (619) 872-2400

web:  www.valorlending.com

Email: cpatterson@valorlending.com