Reply #19: Well, They Can Sign It As An Affirmation

[ProfessorGAC]

It doesn't get included in the mortgage contract, but it's still a legal affirmation that the contract is as presented. The officer isn't doing it in the capacity of an agent of the bank, but as a person. A loan officer not willing to attest that the contract is legally what he or she stated doesn't deserve the job.

You're talking agency law. I'm talking about simple contract law. The bank cannot stop a loan officer from attesting to his or her own honesty. They can only prevent signing anything extra in the name of the bank.

Affirmation documents are legal documents and can be something as simple as a signed agreement to merge on a cocktail napkin. That doesn't mean the contracts still don't have to written, signed and filed. But, the affirmation agreement on that cocktail napkin is still a legally enforceable document.

No?
The Professor