Mortgages Analyzed
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Affidavit

What is an Affidavit?

Affidavit

Affidavit is a signed sworn statement made under oath in which the person making the affidavit affirms to the truthfulness of the statements made in the affidavit.

Affidavits are considered as legal documents and are a means of providing evidence to the court. They provide facts on particular matter before court. Affidavits are usually notarized or authenticated since they are made under oath in front of a Notary Public or a person authorized to do so by law. The person making the statement of fact and signing the affidavit is known as the Affiant.

Affidavits are not verified statements of fact; instead they are voluntary statements made under oath. Wilfully providing a false statement in an affidavit may subject the affiant to civil or criminal proceedings. Anyone relying on an affidavit should consider if they want to obtain corroborating evidence.

Use of Affidavits in Mortgage Loans

In mortgage and real estate affidavits are prepared by the borrower and lender at various times to provide a statement of fact. For example, at loan origination, a borrower may sign a Name Affidavit confirming maiden names or other names. Similarly, during foreclosure process, a lender may prepare a non-military affidavit to confirm the belief that the borrower is not in active military service.

Source :www.MortgagesAnalyzed.com

Basic Requirements for Preparing Affidavits

When signing or preparing affidavits, you should keep in mind the following basic guidelines:

  1. Based primarily on the Affiant’s own/personal knowledge: The information must be based on your direct observation or experience. If you are relying on belief or third party information then the affidavit should specify the grounds for such belief or information.
  2. Contain factual information: Affidavits are designed to communicate statements of fact. Opinions or interpretations should not be included in affidavits.
  3. Confirm all Statements: You must confirm all the statements made in the affidavit. The affidavit is signed in its entirety.
Source :www.MortgagesAnalyzed.com

Contents of an Affidavit

Some of the common elements included in an affidavit are listed below:

  1. Affirmation of Truthfulness: The affidavit contains a statement that the information stated in the affidavit is true.
  2. Statements of Fact: The actual statements that are subject to the affidavit are stated. For example, Same Name Affidavit would list out the maiden names, former names, or other names of the preparer.
  3. A Sworn Statement: A statement that the affidavit is made under oath in front of a Notary Public or a person duly authorized for such purposes.
  4. Notary Information: The signature, seal, and name and notary license information of the Notary Public or the authorized person in front of whom the affidavit was executed.

While, the list above presents the common elements of an affidavit, we recommend obtaining competent legal advice if you have particular questions on an affidavit. The specific contents of an affidavit are based on jurisdiction and the purpose of an affidavit.

Source :www.MortgagesAnalyzed.com
 

Document Summary

 
Affidavit
Purpose
Affidavit is a signed sworn statement made under oath in which the person making the affidavit affirms to the truthfulness of the statements made in the affidavit.
Use in Mortgages
Affidavits are prepared by the borrower and lender at various times so that the other party can rely on it as a statement of fact.
Other Names
N.A.
Type
Affidavit
Provided By
N.A.
Provided To
N.A.
Notarization Required
Yes
Signed By
Borrower or Lender
Life Cycle Stage
Origination and Servicing
Recordkeeping
N.A. Based on specific purposes for which affidavits are prepared.
Model Form
N.A.
Applicable Laws
N.A.
Source :www.MortgagesAnalyzed.com

Updated: Mar 29, 2015

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Affidavit is a signed sworn statement made under oath.
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