Borrower Signature Authorization is a form signed by the applicant authorizing the lender to obtain and verify information and documentation from third parties that is needed in connection with the application for mortgage loan. Through the use of this form, the lender does not have to request signature on every form that it sends to third parties for collecting information about the applicant. This form can be used as an attachment to any form that requires applicant’s signature. For example, the lender can request verification of deposit (Form 1006) by sending along the Borrower's Signature Authorization form. The lender will not have to get the borrower's signature on the Form 1006.
The lender should obtain the authorization from each loan applicant.
The form may contain three parts:
Updated: Aug 22, 2013