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What is the meaning of addendum to loan application?

For the borrowers application, an FHA-insured reverse mortgage (Home Equity Conversion Mortgage or HECM), the lender must use the Residential Loan Application for Reverse Mortgages (Fannie Mae Form 1009).

What does addendum to loan application mean in homestead?

Addendum to Residential Loan Application means the affidavit contained in the Program Manual, on which each prospective Mortgagor must certify to certain facts in order to comply with federal tax laws.

What does addendum to application mean?

An addendum is usually written to address an aspect of your application that you feel warrants attention or might raise a red flag.

What is an addendum to a loan?

The addendum to the contract of loan is a document that amends the terms of a loan agreement. Its particularly important for adjusting terms in response to changes in the financial situations of the parties involved.

What is a 1009 form mortgage?

The HUD/VA Addendum to the Uniform Residential Loan Application is a supplementary document used by applicants for government-backed loans to provide additional demographic information.

california statement of interest addendum explained

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