Page 1 - AAG060_Items Needed Checklist
P. 1

Home Equity Conversion Mortgage (HECM)


        Loan Application Checklist






        c       HECM Counseling Certificate –Signed by the       c      Original Death Certificate of someone who has
            counselor, all borrowers, non-borrowing spouses,         passed and is still on the title
            and some POAs
                                                                 c       Original Power of Attorney document containing

        c       Signed application disclosure package with all       all pages (as applicable)
            documents signed and dated
                                                                 c       Alternative Contact–The name, phone number, and
                                                                     address of a friend or relative for us to have on file
        c      Personal identification for each borrower, non-       (optional)
            borrowing spouse, and POA. Provide one of the
            following:

              Driver’s License, State-issued ID card, Passport or
            Birth Certificate
                                                                 Income, Assets & Expenses (as applicable):
        c       Social Security number verification for each         Income if Employed
            borrower and non-borrowing spouse. Provide one           c    Last 30–day pay stubs and past 2 years’  W-2s
            of the following:
              Social Security Card, W-2,  Social Security Awards     Social Security Income
            Letter or Statement. Document provided must              c    SSA Award Letter
            show full 9-digit Social Security number clearly         AND one of the following
                                                                     c     Most recent year’s SSA Form 1099
        c       Homeowners Insurance Declaration page–Legible        c     Most recent 2 years’ federal tax returns
            copy                                                     c     Most recent Benefits Statements or Budget Letter

             Current policy dates, name and contact information      c     Most recent bank statement with evidence  of
            of your agent
                                                                        deposit (all pages)

        c       Property Tax Bill–Legible copy                       Pension Income
                                                                     c     Pension/Retirement Statement with income
                    If you have delinquent property taxes, please
            supply a copy of your statement showing penalties           supporting 3 years Continuance
            and fees                                                 c     Most recent bank statement (all pages)
                                                                     c     Pension Terms of Withdrawal
        c       Recent Monthly Statement - For any mortgage,           Assets
            Equity line of credit or any other type of loan (ex:     c     Last 2 months’ bank statements, and/or investment
            solar energy) secured to your property
                                                                        accounts (all pages)

        c       Have there been any recent refinance or other        Expenses
            loans taken out in the past 12 months?                   c     Social Security number to pull credit report for

            -   If so, was there cash out exceeding $500?               mortgage, credit cards, liens, etc.

             c     Yes    c     No
                                                                 c       Appraisal Payment Information–Appraisal
        c      Living Trust–Provide a copy of the signed and         management company will call you to collect the
            notarized version of the entire trust and all            fee upfront before inspection can be set. Form of
            amendments or restatements                               acceptable payment options include: check, money
                                                                     order, credit card, or debit.
                                                                                                                   AAG060
   1   2