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Borrower Information Certificate

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Borrower Information Certificate

Recitals

WHEREAS, Borrower seeks to obtain or has obtained financing or credit accommodations from Lender and in connection therewith Lender requires a written certification of the Borrower's identity, organizational status, financial information and representations as set forth in this Borrower Information Certificate; and

WHEREAS, Borrower certifies that the information provided herein is true, complete and correct, and that Lender may rely upon these representations in evaluating and administering the credit facility; and

WHEREAS, the parties intend that this Certificate be a continuing representation and warranty for so long as the loan or credit obligations remain outstanding unless otherwise amended in writing signed by both parties.

Borrower Identifying Information

Individual    Corporation    LLC    Partnership    Trust    Other:

Date of Birth / Formation Date: / /

Loan Details

Interest Rate (annual):    Maturity Date: / /

Scope of Work

The Borrower certifies the scope of work, use of proceeds, or project milestones to which loan proceeds will be applied are accurately described below. Borrower agrees that disbursements and continued extensions of credit are conditioned on performance and documentation consistent with this scope.

Payment Terms

Borrower agrees to pay principal and interest in accordance with the terms set forth below. Payments shall be made in lawful currency to Lender or its designee at the address provided by Lender, and shall be applied first to accrued interest and then to principal unless otherwise agreed in writing.

Late Fee / Default Interest: If any payment is not received when due, Borrower shall pay a late fee of of the overdue amount or a flat fee of , whichever is greater. Interest on overdue amounts shall accrue at the default rate set forth in the loan documents.

Term and Termination

This Certificate shall be effective as of the Start Date and remain in effect until the End Date or until all obligations secured by the loan have been satisfied in full, whichever occurs later. Either party may terminate certain obligations under this Certificate as provided below; termination of this Certificate does not affect any accrued rights or obligations.

Start Date: / /

End Date: / /

Confidentiality

Borrower and Lender agree that non-public financial information and other information reasonably designated as confidential by either party and delivered in connection with this Certificate (collectively, Confidential Information) shall be held in confidence and used solely in connection with the loan and related enforcement thereof. Confidential Information shall not include information that is or becomes public through no breach of this Certificate, is independently developed without use of Confidential Information, or is required to be disclosed by law, provided that the disclosing party furnishes prompt notice to the other and limits disclosure to the judicially or legally compelled minimum.

Representations and Warranties

Borrower represents and warrants that all information provided in this Certificate is true, accurate and complete as of the date hereof, that Borrower has full power and authority to execute and deliver this Certificate and to perform its obligations hereunder, and that no material litigation, insolvency proceedings, or regulatory investigation exists that would materially impair Borrower’s ability to perform its obligations under the loan documents.

Governing Law

This Certificate shall be governed by and construed in accordance with the laws of the State of , without regard to conflict of laws principles.

Entire Agreement

This Certificate, together with any loan documents referenced herein, constitutes the entire agreement between Borrower and Lender with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings and communications, whether written or oral, relating to such subject matter. Any amendment must be in writing and signed by both parties.

Certification

By signing below, Borrower certifies under penalty of perjury that the foregoing information is true, correct and complete to the best of Borrower's knowledge, that Borrower will notify Lender promptly of any material change, and that Lender is authorized to verify any information provided herein from any source.

Borrower:

By:

Date:

Lender:

By:

Date:

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What the Borrower Information Certificate Is and When It’s Used

A Borrower Information Certificate is a standardized form that records a borrower’s identifying details, tax identification, income and employment assertions, loan-specific figures, and attestations used by lenders during underwriting and closing. It organizes data lenders need to evaluate creditworthiness, comply with tax reporting and anti-fraud checks, and create a verifiable loan record. The certificate typically accompanies the loan application, underwriting package, or closing documents and becomes part of the permanent loan file retained by the lender and servicer.

Why the Certificate Matters for Lenders and Borrowers

The Borrower Information Certificate centralizes essential borrower data for underwriting, tax reporting, and regulatory compliance, reducing back-and-forth requests and helping establish a clear audit trail for the loan lifecycle.

Why the Certificate Matters for Lenders and Borrowers

Who Typically Completes and Reviews This Certificate

Lenders, loan originators, mortgage brokers, closing agents, and borrowers themselves commonly complete or verify the Borrower Information Certificate during application and closing.

  • Loan originators and processors verify identity, income, and loan details before underwriting and submission to secondary markets.
  • Closing agents and settlement attorneys confirm borrower attestations and collect signatures and notarizations where required for recording.
  • Borrowers supply personal, tax, and employment information and must review attestations for accuracy before signing.

Accurate completion reduces underwriting delays, lowers the risk of reporting errors, and supports a defensible record for compliance audits.

Primary Roles and Their Responsibilities

Loan Officer

A loan officer gathers borrower details, explains attestations, and submits the certificate with the loan package. They must confirm identity documents and ensure the borrower understands statements about income, use of funds, and tax identification.

Borrower

The borrower provides truthful personal and tax information, signs attestations, and returns the completed certificate. Accuracy is essential because incorrect TINs or misstatements can trigger backup withholding, processing delays, or regulatory review.

Core Elements of a Professional Borrower Information Certificate

A properly structured certificate groups identity, tax, loan, and attestations with clear signature blocks and versioning so each party and auditor can verify the source and timing of statements.

Borrower Identity

Full legal name, date of birth, contact details, and government ID references to match the lender’s identity proofing records and avoid mismatches.

Tax Identification

SSN or TIN with explicit instruction for format and consequences of incorrect numbers, used for reporting and backup withholding determinations.

Income and Employment

Employer name, position, monthly or annual income, and source documentation references required by underwriting and verification checks.

Loan Details

Requested loan amount, purpose, property address or collateral description, and any special conditions tied to loan approval.

Attestations

Statements the borrower signs regarding accuracy of information, consent to electronic records if applicable, and acknowledgment of possible tax reporting.

Signatures & Dates

Signature block with printed name, signature, date, and notarization or witness lines when required by lender policy or state law.

Essential Data Fields to Capture

Full Legal Name: As on government ID
SSN or TIN: Complete number, no truncation
Date of Birth: MM/DD/YYYY format
Current Address: Street, city, state, ZIP
Employment Info: Employer and income
Signature Date: MM/DD/YYYY signed

Step-by-Step: Completing the Certificate

Follow these sequential steps to prepare a complete, auditable Borrower Information Certificate for underwriting and closing.

  • 01
    Collect ID: Verify government ID and match name fields
  • 02
    Enter Tax ID: Input full SSN/TIN using nine-digit format
  • 03
    Add Loan Data: Record loan amount, purpose, and collateral details
  • 04
    Sign and Date: Borrower signs, dates, and obtains notarization if required

How to Configure an Online Certificate Workflow

When digitizing the certificate, set clear signer roles, authentication rules, and automated routing to match your compliance and operational needs.

Field Configuration
Template Name Unique title used for reuse and version control
Signer Roles Borrower | Loan Officer | Closing Agent
Authentication Email link, SMS code, or KBA depending on risk
Auto-Reminders Set reminder cadence and escalation rules

Where the Completed Certificate Typically Goes

After signing, route copies to parties that require a verified record: the lender file, underwriting team, and any third parties involved in closing and servicing.

  • Lender Records: Store the signed certificate in the loan origination file
  • Underwriting: Include with credit and income documentation for review
  • Closing Agent: Provide copy for settlement and recorder if needed
  • Loan Servicer: Submit a final version for ongoing servicing records

Digital Signing and File Format Requirements

Use an eSignature platform that supports secure storage, audit trails, and the file formats your workflow requires.

  • Integrations: Salesforce, NetSuite, Microsoft 365, Google Workspace
  • File Formats: PDF, DOCX, HTML, Excel supported
  • Authentication: Email, SMS, KBA, or advanced signer options

Timing: When to Provide and Retain the Certificate

Observe these timeline checkpoints to avoid underwriting delays and to meet tax and recordkeeping obligations tied to the loan lifecycle.

At Application:

Provide certificate when borrower completes initial application

Before Underwriting:

Ensure all attestations and supporting docs are attached

By Closing:

Final signed certificate must be included in closing package

Tax Reporting:

Retain to support 1099 or other reporting as required

Record Retention:

Keep per lender policy and applicable statutes

Common Preparation Errors to Avoid

  • Entering a partial or truncated SSN/TIN, which can cause backup withholding or rejected information returns and delay funding.
  • Mismatched names between government ID and certificate entries, creating identity verification failures during underwriting.
  • Failing to attach required supporting documentation such as paystubs or tax transcripts, which triggers requests for additional information and slows approval.
  • Signing before notarization when a notary acknowledgement is required, which can render the notarization invalid and require re-execution.

Penalties and Risks for Incorrect or Missing Data

Incorrect TIN: May trigger 24% backup withholding
Late Reporting: IRC §6721 penalties apply
Unverified Identity: Fraud risk and underwriting denial
Improper Notarization: Recording or legal challenges possible
Missing Attachments: Processing delays and conditional approvals
Intentional Misstatement: Possible civil or criminal exposure

Sample Pricing and Feature Comparison for eSignature Providers

The table below lists starting prices and common capability indicators for a selection of eSignature vendors; signNow is listed first per the comparison format.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial, no credit card Varies by plan Varies by plan Varies by plan Varies by plan
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

Frequently Asked Questions and Troubleshooting

Answers to common questions about legality, signing methods, required attachments, and remedies for errors when completing a Borrower Information Certificate.


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