Borrower Authorization Form - United States

Borrower Authorization Form for the United States

Borrower Authorization Form Template for United States

Your data doesn't train Genie's AI

You keep IP ownership of your information

Generate a Bespoke Document

1. Select your governing law:

2. Enter your key requirements:

3. Create your document to edit, review or download

Download a Standard Template

Get our United States-compliant Borrower Authorization Form

4.6 / 5

4.8 / 5

Alternatively: Run an advanced review of an existing
Borrower Authorization Form

Let ��Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.

What is a Borrower Authorization Form?

The Borrower Authorization Form is a critical document in the U.S. lending process, required whenever a lender needs to verify a potential borrower's information. This form is essential for compliance with federal regulations and state laws, particularly the Fair Credit Reporting Act (FCRA) and the Gramm-Leach-Bliley Act. It typically includes specific permissions for accessing credit reports, verifying employment, income, assets, and other financial information. The form protects both the lender and borrower by clearly documenting what information can be accessed and how it will be used.

What sections should be included in a Borrower Authorization Form?

1. Borrower Information: Full legal name, current address, SSN, DOB, and other identifying information of the primary borrower

2. Authorization Purpose: Clear statement explaining why the information is being collected and how it will be used by the lender

3. Scope of Authorization: Detailed outline of what information can be accessed, verified, and shared, including credit reports, employment verification, and banking information

4. Duration of Authorization: Specification of how long the authorization remains valid and when it expires

5. Privacy Notice: Statement regarding information protection, sharing practices, and compliance with privacy laws

6. Signature Block: Area for borrower signature, printed name, date, and any witness requirements

What sections are optional to include in a Borrower Authorization Form?

1. Co-Borrower Information: Additional section for co-applicant's information and authorization when multiple borrowers are involved

2. Electronic Communication Consent: Optional authorization for electronic communications and documents delivery

3. Special Purpose Authorizations: Additional specific authorizations for special verification needs such as employment verification or rental history

What schedules should be included in a Borrower Authorization Form?

1. Privacy Policy: Detailed explanation of the institution's privacy practices and information handling procedures

2. Information Sources Schedule: List of specific agencies, organizations, or entities that may be contacted for information verification

3. State-Specific Disclosures: Required state-specific disclosures and additional authorization requirements based on applicable state laws

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions

Personal Information

Valid Identification

Confidential Information

Clauses

Relevant Industries

Banking
Mortgage Lending
Auto Finance
Personal Lending
Credit Unions

Relevant Teams

Legal
Compliance
Lending Operations
Risk Management
Customer Service

Relevant Roles

Loan Officer
Credit Analyst
Compliance Officer
Mortgage Underwriter
Financial Advisor

Industries

Fair Credit Reporting Act (FCRA): Federal law that regulates the collection, dissemination, and use of consumer credit information. Key for borrower authorization as it governs credit checks and reporting.

Gramm-Leach-Bliley Act (GLBA): Federal law requiring financial institutions to explain their information-sharing practices to customers and protect sensitive data. Essential for privacy protection in financial transactions.

Equal Credit Opportunity Act (ECOA): Prohibits discrimination in credit transactions based on race, color, religion, national origin, sex, marital status, age, or whether an applicant receives public assistance.

Fair Housing Act: Prohibits discrimination in residential real estate transactions. Important for mortgage-related borrower authorizations.

Truth in Lending Act (TILA): Requires clear disclosure of key terms and costs in lending arrangements, promoting informed use of consumer credit.

Consumer Financial Protection Bureau Regulations: Federal agency rules governing consumer financial products and services, including lending practices and disclosures.

Dodd-Frank Act: Comprehensive financial reform law that established the CFPB and introduced new consumer protections in financial transactions.

Privacy Act of 1974: Establishes code of fair information practices governing collection, maintenance, use, and dissemination of personal information.

E-SIGN Act: Federal law ensuring the legal validity of electronic signatures and records in interstate commerce.

Uniform Electronic Transactions Act (UETA): State-level law providing legal framework for electronic signatures and records in business transactions.

Real Estate Settlement Procedures Act (RESPA): Requires lenders to provide home buyers and sellers with pertinent and timely disclosures regarding the real estate settlement process.

Higher Education Act: Federal law governing student loan programs and related borrower authorizations in educational lending.

State Lending Laws: Various state-specific regulations governing lending practices, interest rates, and disclosure requirements that vary by jurisdiction.

State Privacy Laws: State-specific regulations governing the collection, storage, and use of personal information, which may be more stringent than federal requirements.

Find the exact document you need

No matches found.

Vital Records Authorisation Form

A U.S. legal form authorizing the release of vital records while ensuring compliance with federal and state privacy regulations.

��������Ƶ

How Cambridge United Uses ��������Ƶ to Speed Up Player Signings and Slash Legal Costs

Generate a Bespoke Document

Download a Standard Template

What is a Borrower Authorization Form?

What sections should be included in a Borrower Authorization Form?

What sections are optional to include in a Borrower Authorization Form?

What schedules should be included in a Borrower Authorization Form?

Authors

Alex Denne

Find the exact document you need

Vital Records Authorisation Form

Tenant Authorisation Form

Parental Authorisation Form

Overtime Authorisation Form

Return Merchandise Authorisation Form

Non Borrower Credit Authorisation Form

Manufacturer Authorisation Form

Disbursement Authorisation Form

Appointment Of Authorised Representative Form

Pet Care Emergency Authorisation Form

Vendor Direct Deposit Authorisation Form

Deposit Authorisation Form

Medical Authorisation Form For Adults

Authorisation Of Release Of Unemployment Records Form

Electronic Funds Transfer Authorisation Form

Return Authorisation Form

Payroll Authorisation Form

Check Authorisation Form

Authorisation For Release Of Records

Medical Records Release Authorisation Form

Owner Authorisation Form

Payoff Authorisation Form

Agent Authorisation Form

Pre Employment Background Check Authorisation Form

Pre Authorised Debit Form

Payroll Deduction Authorisation Form

Third Party Authorisation Form

Authorised Representative Form

Background Check Authorisation Form

Direct Deposit Authorisation Form

Direct Deposit Enrolment Form

Authorization To Release A Medical Certificate

Voided Check Form

Time Off Request Form

Ach Form

Credit Reference Request Form

Overtime Form

Representative Form Ircc

Direct Debit Authorisation Form

Eft Authorization Form

Client Authorisation Form

Collection Authorisation Form

Direct Credit Authorisation Form

Written Authorization Form

Workers Compensation Authorization Form

Workers Comp Authorization Form

Work Authorization Letter

Vendor Ach Form

Vendor Ach Authorization Form

Travel Consent Form For Minor With Notary

Third Party Release Form

Third Party Credit Card Authorization Form Hotel

Third Party Credit Card Authorization Form

Third Party Authorization Form

Tenant Release And Consent Form

Tenant Authorization Letter

Tenant Authorization Form

Temporary Medical Consent Form For Minor

Student Authorization To Hold Excess Funds

Standard Release Of Information Form

Special Power Of Attorney For Authorized Representative

Special Power Of Attorney Authorization Letter

Social Media Consent Form For Patients

Simple Release Of Information Form

Simple Authorization Letter

Signature Authorization Form

Return Merchandise Authorization Form

Return Authorization Form

Resolution Letter To Sign On Behalf Of Company

��Ƶ

How Cambridge United Uses ��Ƶ to Speed Up Player Signings and Slash Legal Costs

�ұ�Ծ��’s Security Promise