Borrower Eligibilty Mortgage Lenders and Loans

Limited Power of Attorney (POA) Usage Requirements

A Limited Power of Attorney (POA) may be permitted in certain mortgage transactions when used strictly under defined conditions. In general, it allows a designated individual to sign specific closing documents on behalf of the borrower when direct signing is not possible.

This arrangement is only accepted when the POA is clearly tied to the transaction, properly recorded with the mortgage or deed of trust, and used solely for final closing execution. The borrower must have personally signed the initial loan application, and the appointed attorney-in-fact cannot be a related transaction party such as the seller, agent, or loan broker. Usage is typically restricted and not permitted in cash-out refinance scenarios.