It validates instruments failing to comply with section 47-5 which requires that all conveyances be "acknowledged by the grantor, his attorney or such duly authorized person to be his free act and deed.…" Note that section 47-17 appears to recognize an unacknowledged instrument as conveying an equitable interest.

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For borrowers, the Fannie Mae rules mean certain actions are likely to delay or otherwise mess up a mortgage closing.

View today’s lowest mortgage rates “Any change in circumstance could affect and delay a borrower’s closing on a transaction,” says David Adamo, CEO of Luxury Mortgage of Stamford, Connecticut.

Retailers often offer discounts to customers who apply for store credit, Adamo says. Consider paying cash for everything,” says Dan Green, publisher of The Mortgage Reports.

“That is something that most consumers will take advantage of, and even something as benign as that could affect a borrower’s ability to close on a mortgage approval.” Charging up credit cards with thousands of dollars’ worth of appliances, tools and yard equipment is another surefire way to muck up a closing. Mortgage approval is based partly on debt-to-income ratio.

“So if all of a sudden you switch from W-2 to some other kind of compensation, and you don’t have the history, a lot of times that income can’t be included.

*Home Path® is a registered trademark of Fannie Mae.

See, for example, section 47-5a, Persons before whom acknowledgment may be made, and section 47-6, Witnessing and acknowledgment of deeds of corporations and voluntary associations, and Chapter 6, Uniform Acknowledgment Act, Chapter 8, Uniform Recognition of Acknowledgments Act, and Chapter 821a, Forms of Deeds and Mortgages.

This provision generally dates back to section 7 of the 1933 act.

However, standard application and commitment fees will apply for the mortgage loan application.

This section contains many of the core validating provisions relied upon by title examiners to validate chains of title containing various errors and omissions.

Following are three things borrowers can do to mess up their next mortgage closing.