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Top best answers to the question «Do sellers need to sign loan docs for conventional loans»
FHA loan documents require seller-signatures… Conventional loan documents do not. Once a property is in escrow with conventional financing and contingencies are removed, the seller can sign all “seller documents” before loan documents are in title.
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Form 1008 must be retained in the mortgage file for manually underwritten mortgage loans. Lenders may, but are not required to, retain Form 1008 for loans underwritten with AUS. For loans underwritten with AUS, the final AUS Feedback Certificate Report must be retained in the mortgage file.
underwriting and purchases of FHA, VA and Conventional loans, SunTrust will accept photocopies, facsimile or imaged electronic documents to satisfy this requirement. Topic removed in its entirety from Section 1.05 Underwriting.
There will probably be two sets of 150 – 200 pages. The number of notarial acts will run about the same as in other loans—10 to 20 in each set of documents. Scanning back is almost guaranteed. 8 – Reverse Mortgage Loans. These are large loan packages. The page count is 200 to 250. You will need to notarize about 15 documents.
Conventional loan documents do not. Once a property is in escrow with conventional financing and contingencies are removed, the seller can sign all “seller documents” before loan documents are in title. There is no need to wait for loan documents. We bring this up b/c we have had two situations recently involving sellers who traveled ...