When the borrower contacts you after receiving the Introduction Letter you will explain to them that in order to hire you, they must signed an Authorization Agreement. This agreement defines the services you provide and the expected terms of repayment.
Following the letter selection and printing steps learned in How To #7 select Authorization Agreement with Cover Letter from the drop down list of letters. Note: Sometimes when you click on the drop down arrow, the list will open above the arrow, instead of below the arrow, this is normal.
The Authorization Agreement with Cover Letter is a three page document. The Cover Letter is page one and the Authorization Agreement is on pages 2 and 3. Please Note: the Authorization Agreement is a legal document and CANNOT be printed front and back, make sure your printer setting will print each page on a separate piece of paper.
After you print the Authorization Agreement with Cover Letter make notes on the borrower’s Original HUD Data record.
When you talk to the borrower and you inform them that you are sending the Authorization Agreement, agree on a dead line. Help them remember that deadline by writing it on the outside of the envelope, for example “Mail enclosed back by DATE”.
The borrower takes the Authorization Agreement and signs it in front of a Notary Public and mails it back to you. When you receive the signed Authorization Agreement from the borrower you take it and sign it in front of a Notary Public. When you are signing the Authorization Agreement you fill in the statement “This contract made this __________day of___________________, 20_______” with the date that you are signing the agreement in front of a Notary. Use this date as your "Confirmed Client" date.
Keep the original signed Authorization Agreement for your records. Make a copy of it to send to the borrower during the next step of the process.