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PRE-APPLICATION DISCLOSURE AND FEE AGREEMENT
Centennial Mortgage
312 Wall Street
Kingston, NY 12401 |
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Telephone:
Fax: |
800-972-7759
845-339-3310 |
Registered Mortgage Broker, NYS Banking Department, Loans Arranged with 3rd Party Lenders
In the following disclosure, I=applicant; you=mortgage broker
You have advised me that you are authorized and prepared to assist me in securing financing. I understand that your services may include, but are not limited to the following:
- Counseling on available mortgage products;
- Counseling on general mortgage qualification procedures and requirements;
- Counseling on my financial capabilities;
- Assistance in obtaining information required to complete the mortgage application.
- Assistance in processing the loan application, and in meeting conditions of the loan commitment, such as ordering credit and title, clearing credit and title issues, ordering appraisals, etc.
I hereby agree to engage you for the purpose of advising me about financing and to provide the services described above. This agreement will continue until the earlier of the declination of my loan request(s), the closing of my loan or my termination of your services.
I acknowledge that prior to paying any fees or completing any application(s), I was advised of the following:
- Your services are advisory and administrative in nature;
- You are not authorized to make mortgage loans or commitments;
- You cannot guarantee acceptance into any particular loan program or specific loan terms or conditions;
- You may be eligible to receive a lender-paid bonus (cash or non-cash) if my loan is placed with a particular lender, and you will notify me if this occurs.
BROKER FEE:
I understand that, as compensation for your services, you will be paid as checked below:
The fee the lender will pay you is not known at this time, but will be disclosed to me at the time of lock-in or when the rate is set. The maximum points paid, including premium pricing payable by the lender to you, shall not exceed 4 points.
MORTGAGE BROKER FEE ACKNOWLEDGMENT:
I acknowledge that this mortgage broker fee will be paid to you. I further acknowledge that there is no other mortgage broker fee agreement between us.
I understand that I am required to pay the following fees at closing:
- Application fee
- Property Appraisal fee*
- Credit Report
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$ 25.00
$ 275.00
$ 100.00 |
*The property appraisal fee is an estimate of the actual cost of the services. Should the actual costs exceed the estimate, I understand that I will be billed and will pay the shortfall at or prior to closing.
- The application fee is non-refundable.
- The appraisal fee is non-refundable except that amounts collected in excess of the actual cost will be refunded. If the appraisal has not been done, the fees will be refunded in full.
PROCESSING FEE:
PREPAYMENT PENALTIES:
I understand that certain mortgage products impose a prepayment penalty on the borrower. You will disclose the amount of, or the formula for calculating, the prepayment penalty, and the terms of the prepayment penalty, if any, as soon as you know them.
APPLICATION QUESTIONS:
I understand that I may address question or comments about my application to Bruce Katz at
845-339-1341 .
If you live more than 50 miles from the office at which my file is being processed, I may call you at 1-800-972-7759.
CLICK HERE TO CONTINUE TO APPLICATION
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