What's a Compliance Agreement?
- Kendra Marroquin
- Nov 22, 2024
- 1 min read
Ever signed a stack of documents for a loan and wondered what they all mean?
Here’s a quick breakdown on the Compliance Agreement —a little-known but important piece of the puzzle!
So, what is it?
Basically, a Compliance Agreement is a document you sign at closing that allows the lender to fix small mistakes in the paperwork after everything’s done—think typos, a missing digit, or a spot you may have missed signing. It’s like giving a thumbs-up to make small tweaks if needed!
Heads Up: Some Compliance Agreements get notarized, but not always. And don’t be surprised if you see it called an “Errors and Omissions Agreement” or “Document Correction Agreement” too—it goes by a few names!
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