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Guarantors Sign an Errors&Omissions Statement?

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Question: 
Can you please tell me If your guarantors need to sign an errors and omissions statement?
Answer: 

An errors and omissions statement is usually required by secondary market investors. Other than that, it is up to bank policy. Most of them are not worth the paper they are printed on. One party to a contract seldom gets a free do-over, depending on the nature of the error or omission.

First published on 11/11/2018

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