Four Closing Options During the COVID-19 Crisis

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Premier Homes By Angela, The Key To Your Real Estate Experience
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Four Closing Options During the COVID-19 Crisis

Option 1 Power of Attorney (POA): 
The borrower can appoint the closing attorney or other interested party (as allowed by the loan program) to act on their behalf on Limited cash-out refinances and purchase transactions. The borrower will need to meet in person with the notary to sign the POA. All borrowers on the loan may now sign via POA provided they appoint the closing attorney or other interested party as well. 


Please note, the attorney-in-fact may not be the property seller, any relative of the property seller, or any direct or indirect employee or agent of the property seller, unless they are also a relative of the borrower.** 

**Not eligible on cash-out refinance loans. 

Option 2: Standard Mail-Away: 
The closing package will be mailed to the borrower for signature. Borrower must still meet with a notary in person to execute the documents. Borrower will mail signed documents back to the attorney. 

Option 3: Video Closing: 
Attorneys to be on video while the borrower meets in person with the notary to wet sign all closing documents. These closings will be treated like mail-away closings where the client still meets in person with a notary. 

Option 4: Traditional Closing: 
Traditional closings are still an option. Many law firms are still open with additional sanitizing & social distancing procedures in place.

 
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