- Borrowers Certification and Authorization:
Authorizes our company to pull a credit report and obtain any other information we may need to process loan. Also, all the information that you have provided is true to the best of your ability.
- Fair Credit Reporting Act / Right to Financial Privacy Act of 1978 / Flood Disaster Protection Act of 1973
If your request is denied we will inform you soon afterwards – We will provide the name, address, and telephone number of Credit Reporting Agency and are entitled to receive a free credit report if you wish.
Right to Financial Privacy – The Department of Housing and Urban Development or Department of Veterans Affairs can review your loan file if and when they wish without prior consent
Flood Disaster- If home is in a flood zone you must carry flood insurance
- Mortgage Application Disclosure – 2 Page
You shall receive within 3 business day after you have completed the application (1003) a completed Good Faith Estimate and the Truth-In-Lending Statement. You have options of locking or not locking the rate. Funds held for third party such a credit report and appraisal.
- Equal Credit Opportunity Act:
It is against the law for any lender to discriminate against anyone on the basis of race, color, religion, national origin, sex, marital status, and age (applicant must be of legal age to enter into a contract)
- Patriot Act Information Disclosure:
We will need a copy of your Drivers License and other documentation to verify your identity. Other Documentation can bee Social Security Card or Passport
The information that we collect from our customers Non-Public information, We do not give out your information to companies other than the lender(s) to complete loan
- Appraisal Disclosure
You have the right to receive a copy of the appraisal on your property
- Mortgage Servicing Transfer Disclosure Statement – 2 Page
Loan may be sold to another lender or Mortgage Servicer. We do not service loans/
If loan is sold your lender must notify you at least 15 business days prior to transfer. This does not affect your loan structure.
Compliant Resolution – If you have any questions or concerns about your loan put it in writing and they must reply within 20 business days. Please feel free to contact us with any questions.
- Request for Copy of Tax Forms (4506)
This form gives the lender of loan he right to randomly or selectively obtain tax records of borrowers directly from IRS to compare the information on those documents to what was entered on your loan application
- Occupancy Statement;
Intent to occupy the subject property as your primary residence
- Borrower – Broker Disclosure Form:
We are Loan Officer for Lone Star Financing and we are independent contractors who provide service to assist finding a home loan at the very best rate and loan program. Our compensation besides origination may also come from rebates from the Lender. – Loan Officer Name is in the TWO Blanks on page 3
- Good Faith Estimate – ESTIMATE OF LOAN FEES
- Application – Sign top of page 1 – initial bottom of pages 1-3 – sign page 4 & 5
- Truth and Lending – APR based with prepaid cost ( closing cost)