What is a trailing document in mortgage?
Get mortgage trailing documents support to secure mortgage files that haven’t been delivered 120 days after closure.
What are collateral trailing documents?
Trailing Documents means mortgage loan documents that are required by a warehouse lender or an Investor pursuant to Applicable Requirements to be part of the Collateral File that, as of the time of reference, are (i) in the custody of counsel in accordance with Applicable Requirements or (ii) have been submitted for …
What is the document that pledges collateral for a loan?
Examples of collateral documents are a security agreement, guarantee and collateral agreement, pledge agreement, deposit account control agreement, securities account control agreement, mortgage, and UCC-1s.
What are the required documentation in securing loan?
Documents Required for a Personal Loan Identity proof (copy of passport/voter ID card/driving license/Aadhaar) Address proof (copy of passport/voter ID card/driving license/Aadhaar) Bank statement of previous 3 months (Passbook of previous 6 months.
What is the difference between pledge and hypothecation?
Pledge means bailment of goods as security against the loan. Hypothecation is creation of charge on movable property without delivering them to the lender. It is transfer of an interest in specific immovable property as security against loan.
What are the basic loan documents?
- Identity proof (copy of passport/voter ID card/driving license/Aadhaar)
- Address proof (copy of passport/voter ID card/driving license/Aadhaar)
- Bank statement of previous 3 months (Passbook of previous 6 months)
- Two latest salary slip/current dated salary certificate with the latest Form 16.
What is loan documentation process?
The purpose of taking documents is to fix the terms and conditions between the bankers and the borrowers, to identify the borrowers, to identify the securities, to count the period of limitation, to resort to legal remedies in case of need, and so on. steps of loan documentation procedure.
Can you pledge immovable property?
IMMOVABLE PROPERTY IS PLEDGED AND COMBINED WITH AN AGREEMENT TO REPAY THE LOAN. The modern-day Mortgage Bond is a combination of a pledge together with an acknowledgement to repay the loan to the bank. Essentially the owner of immovable property can use his land to pledge and secure his promise to repay the loan.