Mortgage Documents

Disclaimer: A Notary in the capacity of Notary Public is not authorized to discuss specific loan terms or provide any legal advise to the Borrower during the closing process or for any other scenario, and is only authorized to Conduct acts as specified by Texas Legislation pertaining to Notary Public. The following information is for consumer's personal understanding and for informational purpose only. Certain documents are required to be notorized from the following list during the closing process. Authored by Ahsan Bashir, Licensed Texas Mortgage Loan Originator, NMLS ID: 1965714 URL: (

Consumer's Common Mortgage FAQ's

(1) The Six Stages of a Home Loan           (2) Ten Documents Required for a Home Loan Application           (3) What is Debt to Income Ratio           (4) What is an Interest Rate Lock           (5) What is a Credit Score           (6) What is the Loan Estimate (LE)           (7) What is a Closing Disclosure (CD)           (8) What is HUD-1 Settlement Statement           (9) What is a Good Faith Estimate (GFE)           (10) What is Truth in Lending (TIL)           (11) What is a Promissory Note           (12) What is a Mortgage or Security Instrument           (13) What to expect and what Documents are Signed at Closing           (14) What is an Escrow Account           (15) What is a Uniform Residential Loan Application (1003)           (16) What counts as a Business day during the Mortgage Application and Approval Process            (18) What is an Appraisal           (19) What is Mortgage Insurance           (20) What are Mortgage Points           (21) What is a Fixed Rate Mortgage           (22) What is an Adjustable Rate Mortgage           (23) What is an FHA Loan           (24) What is a Conventional Loan           (25) What is a VA Loan           (26) What is a USDA Loan           (27) What is a Construction Loan            (28) What is a Bridge Loan           (29) What is a Graduated Payment Loan           (30) What is a Home Equity Line of Credit (HELOC)           (31) What is a Reverse Mortgage           (32) What is Debt Service Coverage Ratio (DSCR)           (33) What is a Primary and Secondary Mortgage Market

History of the Mortgage Industry in the United States

Since the beginning of times, mankind has had a fundamental need to mark its own territory, its own space and place to call home. Owning a home has always been a basic human need, desire and a requirement for centuries. The mortgage industry in the United States was built on the desire of its citizens to achieve an important aspect of the American dream, "Owning a Home".

Mortgages in the United States were initially started by the Insurance companies rather than the banks. The idea was to take over the property by the Insurance Company in case of a default rather than making money in fees and service charges. The development of the farm mortgage banking in the

Continue to Mortgage History in the United States ...................