Asked by: Zohair Martinez Alcocerbusiness and finance bankruptcy
What does property status's PS R mean?
Last Updated: 10th April, 2021
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Moreover, how did you hold title S sp o?
(1) What type of property did you own—principal residence (PR), second home (SH) or investment property (IP)? (2) How did you hold title to the home— by yourself (S), jointly with your spouse (SP), or jointly with another person (O)?
Furthermore, is the loan officer required to sign the final 1003? All borrowers applying for the mortgage and assuming responsibility for the debt must sign Fannie Mae Form 1003, Uniform Residential Loan Application (URLA), and all addenda. Either the initial loan application or the final, if one is used, must contain the signatures of all borrowers.
Also know, what is the 1003?
Form 1003 is the standard form completed by borrowers when applying for a mortgage loan. Also known as the Uniform Residential Loan Application, the document was developed by Fannie Mae. A borrower lists all assets and liabilities on the form when attempting to secure a mortgage loan.
Are the assets and liabilities completed jointly?
Completed Jointly or Not Jointly: Indicate how the Borrower's and Co-Borrower's Assets and Liabilities section will be completed. If the Borrower and Co-Borrower have different banks, credit cards, loans, real estate owned, the Co-Borrower will need to complete a separate Financial Statement.