In navigating the complexities of financial assistance programs, individuals may find themselves needing to incorporate the income of non-borrowers residing within their property to qualify for certain benefits. A pertinent step in this process involves the Non-Obligor Credit Authorization form, especially within the framework of Select Portfolio Servicing, Inc. (SPS) and the federal government’s Making Home Affordable (MHA) program. This form is essential for those requesting to include another's income for eligibility verification in MHA. It mandates the acquisition of a credit report for each non-borrower to verify occupancy, consequently requiring their explicit written permission. Importantly, applicants must acknowledge that this process entails a 'hard inquiry' on the non-borrower's credit, potentially impacting their credit score based on their overall credit profile. The nuances of this authorization, from the necessity of each non-borrower's signature to the potential repercussions and the specific submission instructions, encapsulate the intricate balance between assisting loan applicants and preserving the integrity of the financial evaluation process. It underscores not only the procedural aspect but also casts light on the broader implications for participants' credit health, illustrating the interconnected nature of financial assistance programs and personal credit management.
Question | Answer |
---|---|
Form Name | Non-Obligor Credit Authorization Form |
Form Length | 1 pages |
Fillable? | Yes |
Fillable fields | 7 |
Avg. time to fill out | 1 min 39 sec |
Other names | obligor credit, select portfolio sps obligor, non obligor, non obligor online |
Select Portfolio Servicing, Inc. (SPS), is a participant in the federal government’s Making Home Affordable program (“MHA”). If you have requested that we include income from a
Please note that if SPS obtains the
Please have each
Select Portfolio Servicing, Inc.
P.O. Box 65250
Salt Lake City, UT
Or fax to:
Fax: (801)
SPS Account Number ____________________
I hereby authorize Select Portfolio Servicing, Inc. to obtain my credit report pursuant to MHA guidelines. I agree that SPS will not be held responsible in any manner for relying upon such credit report or for following the authorization I have given herein.
I affirm that my income has not been used to obtain a HAMP modification for any other property.
________________________________________ |
________________________________________ |
________________________________________ |
________________________________________ |
Printed Name |
Printed Name |
________________________________________ |
________________________________________ |
Social Security Number |
Social Security Number |
If you have any questions or concerns, please contact our Loan Resolution Department. Our
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This information is intended for informational purposes only and is not considered an attempt to collect a
debt.