Resources > Glossary > Compliance Agreement

Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

0-9  A  B  [C]  D  E  F  G  H  I  J  K  L  M  N  O  P  Q  R  S  T  U  V  W  X  Y  Z  
Common Terms 1   Common Terms 2

Compliance Agreement

Function: noun

This document is similar to the correction agreement limited power of attorney as it serves as an attempt to find a way to ensure that small clerical errors can be quickly fixed.

Definition 1:
This document is similar to the Errors and Omissions document. Please see, "Errors and Omissions". The compliance agreement has the borrower agree to cooperate should there be any changes to any loan documents due to clerical errors. There would not be any changes to the terms of the loan though.

Definition 2:
A variation on the name of a similar document would be the "Compliance Agreement Errors and Omissions".