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If you read the name above out loud and laughed, that’s great.

If I don’t accomplish anything else during the next couple of paragraphs, at least I made you smile.

Most likely, you are now probably thinking about all the funny names you might know yourself. It’s one of those timeless exercises that you should do every so often.

In fact, it’s a great ice-breaker to use a funny name when beginning a difficult conversation. For the record, I am not poking fun at Chris P. Bacon nor am I at, let’s say, Mary Puppins or Bark Twain for that matter.

I’m assuming there’s a real person or even a family pet attached to them somewhere in the world, but I don’t know them.

Instead, the purpose of referencing these names is to draw your attention to the importance of making sure that your proper legal name is accurately used throughout your home loan application and, of course,, on your real estate purchase contract if applicable as well.

It’s critical that you take your time and don’t rush through this basic data entry step.

You should avoid using a personal nickname or any abbreviations of sorts that your family or friends may have enjoyed calling you over the years.

If you intentionally or accidentally start with a name variance, it could be problematic for you because there are so many data connection points surrounding your name.

As an example, your lender will check the name you submit on your loan application, your purchase contract, your bank statements, your paystubs, your tax returns and any other financial documents as necessary to confirm consistency with your identity.

There are also multiple system sources of name reconciliation that take place within your credit report, like the name variances section and outside of the credit report through various government databases too.

Therefore, the name used to pull your credit report and entered on your home loan application should be consistent with the name listed on your photo identification.

This means whether it’s your driver’s license, state identification card, resident alien card and or passport, you need to be prepared with consistent and current identification.

This is also important when going to sign your official closing loan documents as a notary will review your photo identification at closing.

In addition, if you have a trust or you are using a power of attorney, your name on your closing loan documents must match your name listed in the body of the trust or the power of attorney document.

If you do have any name variations, then those will be listed on what’s called a name affidavit form for your signature at closing.

For instance, if your first name is shortened from Thomas A. Jones to Tom A. Jones or your last name is hyphenated yet they are properly listed on your credit report as name variances, that should be OK.

Just make sure you stay away from those candy heart or funny names and you should be fine.

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Chris Salese can be reached at chris@delsurmortgage.com or 707-363-4439. He is a licensed California mortgage lender (LO NMLS #254469 — CA-DBO #254469 Corp NMLS #1850 Equal Housing Opportunity.

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