• Donna Schmidt

Helpful Hints for Ordering Mod Docs....

Adding a non-borrower spouse - When there is only one borrower on a loan, but they are married, some states require that the non-borrower spouse must execute the Mortgage/Deed of Trust to acknowledge that a loan has been taken out on the marital assets. The non-borrower spouse is not providing information to qualify for the loan, so they do not sign the Note, but they must sign the Mortgage. You enter the borrower’s name on the entry page (Loan Basic):

In order to have the Non-Borrower spouse’s name to appear on the Mortgage Only, you need to enter their name on the document order page under Other Non -borrower

You should always select the Borrower vesting of HUSBAND AND WIFE. There is no need to complete the Custom Vesting. Custom Vesting –When needing to enter a custom vesting (a vesting that does not match one of the drop-down options), you need to re-enter the borrower’s names and vesting information EXACTLY as it appears on the mortgage or deed of trust.

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