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Power of Attorney

Power of attorney is written authorization to represent or act on another's behalf in private affairs, business, or some other legal matter. A request to provide verification of power of attorney (POA) occurs when a transaction is handled by someone other than the named customer. This can occur in transactions involving a customer who is not legally qualified to render decisions, or is unable to attend a meeting or to sign loan documents.

A copy of court documents may be requested to verify the appropriate level of authority to obligate the customer:

  • General POA is permitted only for signing closing documents but does not apply to situations involving incompetency.
  • Durable POA survives incapacity and allows the named person to attend any required counseling and sign all loan documents.
  • Specific POA is applicable only to a certain transaction and property, is allowed only for signing closing documents, and remains in effect until a date stipulated in the document, until the named transactions are completed, or until the principal becomes incapacitated, dies, or revokes the document

In transactions involving an incompetent individual, requests may also be made for a:

  • Court document declaring the customer incompetent
  • Letter from a medical professional stating the customer is incompetent

Avoid delays in processing your loan

For all documents:

  • Make sure the copies you send are legible.
  • Do not include documents that have been altered with correction fluid or by other means.
  • Submit the entire requested document and include all pages (even blank ones).

For this document:

  • Provide the appropriate documents.