Reply #23: That Is Simply Not True [View All]

[ProfessorGAC]

The affirmation is not directly tied to the contract, and the person is not being asked to sign is as an agent of the bank. The bank and the law have no bearing on this request. All the document is asking is that what the loan officer said the contract was and what it really says are the same thing. That's legally disconnected from the mortgage agreement.

And quite frankly, if the person wouldn't sign a statement that swears they have told the truth, i'd get a different loan company. If corporate policy insisted he or she not sign something that wasn't directly part of the loan agreement, i wouldn't borrow from them.

And, the federal law doesn't cover what i'm talking about. I called the lending VP at the bank where i'm a director, and he said he would sign something like that. He was certain it did not violate the law, and the only bank policy on this subject was that they had to do everything the law required. No law against it; no corporate policy against it.
The Professor