Mortgage Glossary
There are a lot of unfamiliar terms that get tossed around during the mortgage process. But don't worry, we've put together this glossary to help you get a better grasp of any terms that may be less than clear.
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Attorney Witness
Related to the settlement/closing fee. This fee is standard in some states and is the closing attorney's fee for witnessing the signing of the closing documents. For our comparison purposes, an attorney witness fee is considered to be a third party fee and may be included in the title insurance or closing fee by some lenders.
Attorney-in-fact
One who holds a power of attorney from another to execute documents on behalf of the grantor of the power.