Is an electronic signature legally valid?

Yes. Electronic signatures are legally enforceable under the ESIGN Act (15 U.S.C. ch. 96) and UETA where adopted. Ensure intent, consent, attribution, and record retention requirements are met.

When do I need a notary or RON?

Use a notary when the transaction or state law requires notarization. Remote online notarization (RON) is permitted in many states with identity proofing and recording requirements; verify current state rules.

What authentication level should I use?

Choose email+SMS for routine files, knowledge-based authentication or ID verification for high-risk credit/insurance files, and stronger methods for regulated records.

How do I correct a submitted form?

If the platform supports corrections, void or decline and reissue the form to the signer, or have all parties execute an amendment capturing the corrected facts.

Can PHI be collected electronically?

Yes if the eSignature provider supports HIPAA and a Business Associate Agreement (BAA) is in place; protect access and retention per 45 CFR §164.530(j).

How do I revoke or cancel an eSigned preliminary form?

Revocation or cancellation should be documented in writing and, where needed, countersigned by parties. For consumer-facing transactions, follow any ESIGN consumer disclosure and withdrawal procedures.

Electronic Signature
Templates
Miscellaneous
Underwriting Preliminary Form

Underwriting Preliminary Form

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

UNDERWRITING PRELIMINARY FORM & SERVICES AGREEMENT

This Underwriting Preliminary Form and Services Agreement (the Agreement) is entered into by and between Client Name: and Underwriter Name: .

WHEREAS

WHEREAS, Client seeks preliminary underwriting analysis and assessments in connection with the potential financing or insurance placement described herein; and

WHEREAS, Underwriter is engaged in the business of providing underwriting evaluation, risk assessment and related advisory services and has represented its expertise to Client; and

WHEREAS, the parties desire to set forth the scope, payment terms and preliminary conditions under which Underwriter will perform the preliminary underwriting services.

APPLICANT & CONTACT INFORMATION

Applicant / Borrower Name Entity Type (select all that apply)

Individual Corporation Limited Liability Company Partnership

Primary Contact

Email:

Phone:

Address

TRANSACTION & RISK SUMMARY

Requested Transaction Amount: $ Proposed Purpose:

Collateral / Security Description

Estimated Collateral Value: $

Proposed Loan-to-Value (LTV):

FINANCIAL SUMMARY (MOST RECENT 12 MONTHS)

Gross Revenue: $

Net Income: $

Total Assets: $

Total Liabilities: $

Additional Financial Details

SCOPE OF WORK

Underwriter shall perform preliminary underwriting services limited to factual verification, credit analysis, collateral assessment and preparation of a preliminary underwriting memorandum setting forth findings, material exceptions and recommended conditions precedent to final approval. The services shall not constitute a commitment to fund or a guarantee of acceptability by any third party.

Detailed Scope (describe tasks, deliverables, and limitations)

PAYMENT TERMS

Client shall pay Underwriter for the services described herein in accordance with the following terms.

Total Fee Payment Schedule

Late Fee: — Any unpaid amount not paid within the agreed payment period shall incur the stated late fee and collection costs.

TERM & TERMINATION

Commencement Date: Termination Date:

Either party may terminate this Agreement for convenience upon written notice to the other party delivered at least days prior to the effective date of termination. Termination shall not relieve Client of payment obligations for services rendered and expenses incurred through the effective date of termination.

CONFIDENTIALITY

Each party shall maintain in confidence all non-public information disclosed by the other party that is designated as confidential or that reasonably should be understood to be confidential. Confidential information shall not include information that (a) is or becomes generally known to the public through no breach of this Agreement; (b) is rightfully received from a third party without restriction; or (c) is independently developed without use of the disclosing party’s confidential information. Each party may disclose confidential information as required by law or court order provided it gives prompt notice to the other party and cooperates in any effort to seek confidential treatment.

GOVERNING LAW & COMPLIANCE

This Agreement shall be governed by and construed in accordance with the laws of the state of without regard to its conflict of laws principles. Each party represents and warrants that it will comply with applicable laws, rules and regulations in performing its obligations under this Agreement.

REQUIRED DOCUMENTS & AUTHORIZATIONS

The following documents are required for Underwriter to perform the preliminary analysis. Check each item provided or to be provided:

Audited or unaudited financial statements (most recent)
Tax returns (last two years)
Authorization for credit report/credit check
Recent appraisal or market valuation
Title report or lien searches
Ownership and organizational documents

CONDITIONS & LIMITATIONS

Preliminary Underwriting Conditions (material items that must be satisfied prior to final approval)

CERTIFICATIONS & ACKNOWLEDGEMENTS

Client certifies that the information provided in this form and accompanying documents is true, complete and correct to the best of Client’s knowledge. Client authorizes Underwriter to verify information, obtain credit reports, and rely on third-party reports and records in connection with the preliminary underwriting analysis. Underwriter will rely on the accuracy of the materials provided by Client and shall not be responsible for undisclosed or inaccurate information.

LIMITATION OF LIABILITY: Except in the case of willful misconduct or gross negligence, Underwriter’s liability for any claim arising out of or related to this Agreement shall be limited to direct damages not to exceed the total fees paid to Underwriter under this Agreement. Underwriter shall not be liable for consequential, incidental or punitive damages.

ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, proposals, understandings and representations, whether written or oral. Any amendment or modification to this Agreement must be in writing and signed by both parties.

Client Printed Name:

By:

Date:

Underwriter Printed Name:

By:

Date:

What the Underwriting Preliminary Form Is and when it’s used

The Underwriting Preliminary Form is a standardized document used to collect core applicant, property, financial, and risk information early in a credit, insurance, or real estate underwriting workflow. It summarizes material facts required for initial risk assessment and for routing to specialized underwriters, credit officers, or claims examiners. The form reduces back-and-forth requests for basic data, supports consistent eligibility checks, and establishes a record that underwriters rely on when ordering further verification, valuations, or third-party reports prior to final approval.

Why a clear Preliminary Form matters for underwriting

A well-completed Underwriting Preliminary Form speeds initial eligibility checks, reduces duplicate requests, and creates an auditable record for compliance. It helps underwriters prioritize cases, identify missing documentation early, and align reviewers on required next steps under internal risk policies and applicable law.

Who typically completes and reviews this form

Intake teams, loan officers, brokers, insurance agents, and applicants complete the form; underwriters and risk managers perform the review and determine next steps.

Loan officers and brokers collect borrower data and upload supporting documents for lender underwriting review.
Insurance agents or brokers gather policyholder details and incident information for claims triage or coverage underwriting.
Credit risk analysts and underwriters review the form to order valuations, credit reports, or specialist approvals.

The form is a shared document across originations and underwriting; accuracy at intake reduces downstream delays and regulatory scrutiny.

Step-by-step: completing the Underwriting Preliminary Form

Follow these steps in order to collect accurate information and move the file to underwriting review.

01

Prepare: Gather IDs, financial statements, and property details before you start.
02

Enter Data: Complete all required fields using specified formats.
03

Attach Documents: Upload PDFs of supporting documents and label them clearly.
04

Submit: Send to the underwriter with routing notes and required checks.

Typical digital workflow settings for online completion

Configure the form and routing so reviewers get only the fields they need and signing is secure.

Field	Configuration
Required Fields	Mark identity, amount, and signature fields as mandatory
Conditional Fields	Show additional questions based on loan type or coverage
Signer Authentication	Use email + SMS code or stronger KBA for high-risk files
Routing Order	Route to credit, then underwriting, then final approver

How electronic submission flows through underwriting

An e-submitted preliminary form follows a predictable routing path to capture approvals and create an audit trail.

Applicant: Completes form and uploads required documents.
Intake Review: Checks completeness and identity proofing.
Underwriter: Performs risk assessment and requests additional items.
Decision: Approver records outcome and next steps.

Essential elements to include on a professional preliminary form

Design the form to capture the minimum data set needed for an initial credit or coverage decision while preserving auditability and privacy.

Identification

Collect full legal name, DOB, and TIN or SSN where required for verification and tax reporting. Use masked display in non-secure views.

Contact Details

Include phone, email, and mailing address. Accurate contact data speeds follow-up and reduces incomplete-file rates.

Transaction Summary

Record requested amount, loan or policy type, and term details so underwriters can triage the file quickly.

Collateral / Property

Capture property address, estimated value, and ownership status to support appraisal and title checks where applicable.

Declarations

Include material disclosures, adverse history questions, and flags that automatically trigger enhanced review workflows.

Signature Block

Provide signer name, signature field, date, and authentication method. Include an ESIGN consumer disclosure where applicable.

Security and compliance controls to protect form data

Encryption: TLS 1.2/1.3 in transit; AES-256 at rest

Audit Trail: Timestamp and IP logging retained

HIPAA: BAA available for PHI

ESIGN / UETA: Legal e-signature compliance

SOC 2: SOC 2 Type II audited

21 CFR: Supports 21 CFR Part 11 needs

Principal penalties and risks of incorrect or late forms

Tax Reporting Risk: Backup withholding 24%

Filing Penalties: IRC §6721 penalties for incorrect returns

Loan Delay: Approval timelines extended

Underwriting Rejection: Incomplete facts can trigger denial

HIPAA Violation: Improper PHI handling risks enforcement

Reputational Harm: Customer trust may erode

Common preparation errors that cause delays

Missing or inconsistent legal names across ID and application cause identity verification failures and add processing time.
Incorrect or absent TIN/SSN entries trigger backup withholding and require manual follow-up with the applicant.
Unlabeled or low-quality document scans (blurry, cropped, or password-protected PDFs) prevent automated verification and require resubmission.
Using informal dates or formats instead of MM/DD/YYYY leads to misinterpretation in downstream systems and audit logs.

Typical timelines and deadlines to expect after submission

Timelines vary by institution and file complexity; plan for standardized checkpoints to manage expectations and escalation.

Initial Intake Review:

1–3 business days for completeness checks

Underwriter Assessment:

3–10 business days depending on verifications

Third-Party Reports:

Appraisals or credit reports 3–7 business days

Final Decision:

Typically within 10–20 business days for standard files

Extensions:

Subject to lender or insurer SLAs and additional requests

Key processing milestones from intake to decision

A sequential milestone view helps track file progress and owner responsibility at each stage.

01

File Intake

Collect and validate applicant info and documents.

02

Preliminary Underwriting

Perform initial risk scoring and issue document requests.

03

Third-Party Verification

Order appraisals, title, or credit checks as needed.

04

Final Approval

Underwriter records decision and communicates terms.

Pricing and feature comparison for common eSignature providers

Compare entry-level pricing and core capabilities relevant to underwriting workflows, including bulk send and HIPAA support.

	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 card required	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
Envelope Cap	No cap	100 envelopes/user/year	Varies	Varies	Varies

FAQs and troubleshooting for common issues

Answers to frequent questions about validity, notarization, and electronic submission to help avoid common roadblocks.

Need help? Contact support

Is an electronic signature legally valid?
Yes. Electronic signatures are legally enforceable under the ESIGN Act (15 U.S.C. ch. 96) and UETA where adopted. Ensure intent, consent, attribution, and record retention requirements are met.
When do I need a notary or RON?
Use a notary when the transaction or state law requires notarization. Remote online notarization (RON) is permitted in many states with identity proofing and recording requirements; verify current state rules.
What authentication level should I use?
Choose email+SMS for routine files, knowledge-based authentication or ID verification for high-risk credit/insurance files, and stronger methods for regulated records.
How do I correct a submitted form?
If the platform supports corrections, void or decline and reissue the form to the signer, or have all parties execute an amendment capturing the corrected facts.
Can PHI be collected electronically?
Yes if the eSignature provider supports HIPAA and a Business Associate Agreement (BAA) is in place; protect access and retention per 45 CFR §164.530(j).
How do I revoke or cancel an eSigned preliminary form?
Revocation or cancellation should be documented in writing and, where needed, countersigned by parties. For consumer-facing transactions, follow any ESIGN consumer disclosure and withdrawal procedures.

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