Believe it or not, if that box gets checked, then the application taker (the loan officer) is supposed to fill it out himself "based on visual observation". I used to have fun with that.
**And to think the penalty for false information on a loan application is a federal crime... go figure how the government asks people to do something they throw other people in jail for.
**And to think the penalty for false information on a loan application is a federal crime... go figure how the government asks people to do something they throw other people in jail for.LOL, I never heard that before, although it could be true for an FHA loan. But even then, everything is verified anyway, and I saw plenty of applications with fabricated "jobs", addresses, etc. I would be surprised if there has ever been a prosecution, let alone a conviction (forget jail), of anybody who falsified an application for a home loan.