Is it legal for a mortgage lender to demand a full copy of my living trust?

[Jasmine Tsai]

What is the name of your state (only U.S. law)? Nevada

I am applying for a mortgage on a property that will be held in my living trust. One of the reasons I created a living trust was for privacy reasons, so I was taken aback that the mortgage lender is demanding a full copy of my revocable living trust as a condition for the loan. Do I have any alternatives?

 

[justalayman]

Do I have any alternatives?

Absolutely; don't ask them for a mortgage loan.

The lender is going to want to see what rules of the trust will affect their collateral. If you don't wish to show them what they ask for, expect them to reject your application.

 

[adjusterjack]

Absolutely; don't ask them for a mortgage loan.

Like^

**************...

 

[TrustUser]

normally a lender only needs to see the title page, signature page, and the page that refers to the power of the trustee regarding real estate trx.

i would politely ask to speak with the boss, and politely tell them this, and then see what he says.

i have done this several times with success.

also, they often will accept a certification. in fact, often times they prefer it - so they dont have to comb through a 30 page document.

 

[FlyingRon]

Even without a lender, I've had to provide copies of the trust documents to the settlement house to get the deeds transferred. I have my trust docs scanned into PDF files. I suspect they don't even bother to look at them but they do keep them on file.

 

[adjusterjack]

What is the name of your state (only U.S. law)? Nevada

I am applying for a mortgage on a property that will be held in my living trust. One of the reasons I created a living trust was for privacy reasons, so I was taken aback that the mortgage lender is demanding a full copy of my revocable living trust as a condition for the loan. Do I have any alternatives?

Bottom line: If you want the money, you comply with the lender's demand.