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We use an error and omission agreement. The jest of the agreement is that the customer agrees to cooperate with the bank in correcting “errors” if they occur. It also states, “failure by the party to initial or execute such documents as and when requested hereunder shall constitute a breach of the contractual agreement evidenced here by and shall also constitute a default under the note evidencing mortgage, deed of trust, security agreement or other security instrument securing the loan.”
Could this be viewed or interpreted to bar a customer from bringing a claim?
thanks
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