1003 URLA - Part 3
1003 URLA - Part 3
Complete Section 2: Financial Information – Assets and Liabilities part 2a. Assets – Bank Accounts, Retirement and Other Accounts You Have – Borrower and Co-Borrower
The information for each account must be completely filled out.
Total Asset Amount should be enough to cover cash to close
You can fill out cash or market value for asset accounts with future funds.
Make sure that liabilities as shown on the credit report were properly imported to Part 2c. Liabilities – Credit Cards, Other Debts and Leases That You Owe – Borrower and Co-Borrower. If they weren’t, make sure that the credit report was ordered and click the Import Liabilities button to automatically fill the information out.
Complete Section 3: Financial Information – Real Estate with all the information on real estate owned by the borrowers, if any. If the borrowers don’t own any real estate, check the I do not own any real estate box. If there are mortgage loans on any of the properties, click the Link Liabilities button and select the mortgage corresponding to that property.
