We recognize that the introductory paragraph of Form 1003 differs slightly from the introductory paragraph in the Uniform Residential Loan Application found on Freddie Mac's website, Freddie Mac Form 65. Note: The following instructions highlight certain sections of the form. This also means that in states where another person shares community property rights with the applicant, the lender does not need to include information on that person's liabilities if he or she is not an applicant. Although ECOA permits the lender in a community property state to obtain information regarding the liabilities of a borrower's spouse even though he or she is not applying for the mortgage and his or her income will not be considered for loan qualification purposes, we do not require the lender to obtain the information. The instructions at the top of Form 1003 are consistent with the permissible inquiries that creditors are allowed to make under the Equal Credit Opportunity Act (ECOA). Before or at the loan closing, the borrower(s) must sign the final application that the lender prepares based on its verification of the information that the borrower(s) provided in the original application. The lender should retain the original application with the supporting information provided by the borrower(s). However, an electronic signature or facsimile of the borrower's signature is acceptable as indicated in the "Acknowledgment and Agreement" section of the application. If the application is taken over the telephone or via the Internet, the borrower(s) must sign the completed application as soon as possible thereafter. The borrower(s) must sign the original application at the time it is completed. The lender should complete all blanks and attach any separate exhibits, details, or statements that are relevant to underwriting the mortgage. The lender may accept applications taken during a face-to-face interview, over the telephone, through the mail, or via the Internet. When printing this form, you must use the "shrink to fit" option in the Adobe Acrobat print dialogue box. Consequently, the number and size of pages will not affect compliance with Fannie Mae requirements pertaining to use of the Uniform Residential Loan Application, provided that the content of the form has not been materially altered. However, lenders may print Form 1003 as a legal size document or with different fonts or margins that may affect pagination we have no specific standards for the number or size of pages the form may have. We provide Form 1003 in an electronic format that prints as a letter size document. Lenders must use the PDF dated 6/09 for mortgage loans applications taken on or after July 1, 2010. Roman numerals in these instructions correspond to the sections on the form. © 2023 Energy One Federal Credit Union.The lender uses this form to record relevant financial information about an applicant who applies for a conventional one- to four-family mortgage. This IS includes security measures (e.g., authentication and access controls) to protect Energy One interests, not for your personal benefit or privacy. Communications using, or data stored on, this IS are not private, are subject to routine monitoring, interception, and search, and may be disclosed or used for any Energy One authorized purpose. At any time, Energy One may inspect and seize data stored on this IS. All information, including personal information, placed on or sent over this system may be monitored. During monitoring, information may be examined, recorded, copied and used for authorized purposes. Monitoring includes active attacks by authorized Energy One entities to test or verify the security of this system. Servers and computers may be monitored for all lawful purposes, including to ensure that their use is authorized, for management of the system, to facilitate protection against unauthorized access, and to verify security procedure, survivability and operational security. By using this IS (which includes any device attached to this IS), you consent to the following conditions: § 1030, The Computer Fraud and Abuse Act. Unauthorized use may subject you to criminal prosecution under Public Law 18 U.S.C. You are accessing an Information System (IS) that is provided for authorized use only.
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