The lender should retain this form in its mortgage file. This two-page form consists of eight sections. This means that a lender does not need to print Page 2 of the form if it chooses not to complete any of the optional sections on that page. Each section of the form is discussed below, with instructions provided for certain fields in instances in which we think they are needed for clarity or to emphasize the need for proper completion of a specific field. This mandatory section includes basic mandatory information related to the borrower and the property.
Most fields are self-explanatory.
This mandatory section includes basic information related to the mortgage. This mandatory section includes basic information related to the considerations used in underwriting the mortgage. Most fields are self-explanatory. Proposed Monthly Payments. The housing expense itemization relates only to the borrower's primary residence.