Collateral Power of Attorney

For bank’s collateral perfection use only. NOT to be used to apply for or sign loan documents.

A Power of Attorney (POA) is:

  • A legal document executed by one person, the Principal (Grantor)
  • Authorizing another person, the Attorney (Agent)
  • To act on his/her behalf 

And

Provides the bank with the ability to:

  • Make corrections to liens
  • Make corrections to documentation concerning the title
  • Transfer title to the bank so collateral can be sold 

Included with the loan package provided by Loan Doc Prep.

 

When the title must be transferred to a new name, the required Power of Attorney for the Seller ONLY is required:

Alabama - SELLER POA 

Florida - SELLER POA 

Georgia - SELLER POA 

 

We MUST have the original POA signed with a pen (wet signed). If the loan package was sent to you via IMM Esign, PRINT the POA and have the client sign.  

  • Esign-Web: Loans requiring POA cannot be delivered via Esign-Web.
  • The ORIGINAL SIGNED POA must be sent to Loan Servicing in the designated bag. You may upload a signed copy to Synergy (Consumer Purpose) or Abrigo (Business Purpose)

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