Mortgageloancorp
MortgageLoan Corp. Disclosures
Disclosures and Licenses
Last Updated: May 1, 2013
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MortgageLoan Corp.
 
Notice: MortgageLoan Corp. and its affiliates maintain a firm commitment to providing professional services to any person regardless of race, color, religion, sex, disability, familial status, or national origin. The Company shall not knowingly be a party to any plan or agreement to discriminate against a person or persons on the basis of these or any similar prejudices or practices. This is not an offer for extension of credit or a commitment to lend. All loans must satisfy underwriting guidelines ranging from, but not limited to, credit score requirements, loan to value requirements, asset requirements, income requirements, debt to income ratio requirements, property requirements including, but not limited to, an appraisal, in addition to other underwriting guidelines and requirements.
 
MortgageLoan Corp. Disclosures and License Information
MortgageLoan Corp. is an Equal Housing Lender. MortgageLoan Corp. is a fully licensed and bonded mortgage company. MortgageLoan Corp. is a professional California Corporation. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you have the capacity to enter into a binding contract), because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. The federal agency that administers our compliance with these federal laws is the Federal Trade Commission, Equal Credit Opportunity, Washington, DC, 20580.

MortgageLoan Corp. is an Equal Opportunity mortgage company. If, at any time, you believe that you have been subject to discrimination, you may send a complaint to:

 

 

Federal Trade Commission
Equal Credit Opportunity
Washington, DC 20580

AND TO:

Office of the Comptroller of Currency (OCC)
OCC Customer Assistance Group
1301 McKinney Street, Suite 3450
Houston, TX 77010-9050

AND TO:

Assistant Secretary for Fair Housing and Equal Opportunity
Department of Housing and Urban Development (HUD)
Washington, DC 20410
For processing under the Federal Fair Housing Act

AND TO:

Consumer Financial Protection Bureau (CFPB)
1500 Pennsylvania Avenue NW
Washington, DC 20220
 
 
MortgageLoan Corp. State Disclosure Requirements
MortgageLoan Corp. is a licensed mortgage lender. The following states require disclosure of licensing information. (If your state is not listed, it doesn’t require a specific license disclosure):
·         California – Licensed by the Department of Corporations, under the Finance Lender’s Law;
·         MortgageLoan Corp.’s Nationwide Mortgage Licensing System Number 848020.
To go to the NMLS access page please click on:
 
Mortgageloan Disclosures
MortgageLoan Corp. is a California corporation with its corporate headquarters in San Diego, California. Any reference in this Licenses and Disclosures to "we" or "us" or similar words shall refer to MortgageLoan Corp. unless otherwise indicated, all such entities referred to as "Mortgageloan" or “we” or “Company” or “us”. Any reference in Licenses and Disclosures to "you" or "your" means the person(s) using the MortgageLoan Corp. Websites (as defined in the Terms of Use Agreement), and/or the good, facilities or services of Mortgageloan offered through alternative methods. MortgageLoan Corp. is a loan originator for mortgage loans. MortgageLoan Corp. is not a lender. You are under no obligation to use MortgageLoan Corp. to commence request process of your mortgage refinance or mortgage loan, and MortgageLoan Corp. does not guarantee that completing a request will result in you being approved for a loan by a lender, investor, or provider.
Fees. MortgageLoan Corp. may charge administrative fees or origination fees, which will be fully disclosed and represented on a Good Faith Estimate (GFE) and also on other sets of documents including, but not limited to, a Final HUD Settlement Statement. See the Terms of Use Agreement for details, or ask your mortgage associate with MortgageLoan Corp.
Credit. A loan request you submit is an application for credit. You may have to complete an application with MortgageLoan Corp. before a conditional offer is extended. We may require information regarding your property, your income, your assets, your credit history, your employment, your debt obligations, and/or other pieces of information used strictrly for underwriting purposes by our lenders, investors, or providers of loans, mortgages, and credit. Any conditional offer you are offered may require you to pay an application or other fee to cover the costs of an appraisal, credit report or other items; you may have to provide income document, asset documentation, tax return documentation, insurance information, HOA information, credit supplemental information, and/or any other documentation requested by the underwriting staff. No offer is a commitment to lend. An application or loan request does not guarantee you will be approved for a loan, mortgage, refinance, or whole loan.
Federal Disclosures. Any loan request may make certain disclosures to you. These disclosures, which are required by the Truth in Lending Act (TILA), the Real Estate Settlement Procedures Act (RESPA), and certain other federal and state laws, include details of your cost of credit; good faith estimates of your settlement costs; HUD mandated booklets "Guide to Settlement Costs" and/or "When your Home is on the Line"; notices concerning the possibility that your mortgage loan servicing may be transferred; and your right to a copy of any appraisal, if any, performed on your home. The Equal Credit Opportunity Act prohibits creditors, mortgage companies, lenders, investors, and/or providers of mortgages from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract), because all or part of the applicant's income derives from any public assistance program, or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The agency that administers compliance with this law varies by state depending on its authority, may include the Federal Trade Commission, Equal Credit Opportunity, Washington, DC 20580. If you feel you have been discriminated against, please contact the Federal Trade Commission immediately as well as MortgageLoan Corp. management immediately.
About MortgageLoan Corp. Loans
MortgageLoan Corp. specializes in home mortgage and refinance requests. MortgageLoan Corp. makes loans and earns fees for its services through upfront origination fees paid by you, the borrower, or from lenders, investors, or banks that ultimately fund and purchase the mortgage loans. Please see the Terms of Use Agreement for more information on the MortgageLoan Corp. Loans proces.

 

Rates Assumptions:


Conforming loan (Up to 417,000) Annual Percentage Rate (APR) calculations assume a fully documented rate and term refinance with a loan amount of $350,000 on an acceptable owner-occupied, detached, single family residence (SFR) with a loan-to-value ratio (LTV) of less than 60% along with an established impound account for taxes and insurance. Available first mortgage rates and fees may vary depending upon your property's location. Restrictions apply.

Conforming loan (Up to 625,500) Annual Percentage Rate (APR) calculations assume a fully documented rate and term refinance with a loan amount of $500,000 on an acceptable owner-occupied, detached, single family residence (SFR) with a loan-to-value ratio (LTV) of less than 60% and an impound account for taxes and insurance. Available first mortgage rates and fees may vary depending upon your property's location. Restrictions apply.

Jumbo loan APR calculations assume a fully documented rate and term refinance with a loan amount of $1,000,000 on an acceptable owner-occupied, detached, SFR with a LTV ratio of less than 60% and an impound account for taxes and insurance. Restrictions apply.

Government loan APR calculations assume a fully documented rate and term refinance with a loan amount of $350,000 on an acceptable owner-occupied, detached, SFR with a LTV ratio of less than 60% and an impound account for taxes and insurance. Restrictions apply.

Rates will be higher for loan amounts lower than $350,000 and over $417,000. Rates shown on website assume the borrower(s) FICO according to the chosen Credit Rating-Excellent 740; Good 680; Fair 620. Restrictions apply.

Adjustable rate mortgage APR calculations are based upon the index and investor based margins.

Subject to underwriter approval; not all applicants will be approved.

 

Important Terms and Conditions Regarding our Mailer:

* The offer extends to fixed rate, conforming loan amounts up to $417,000, rate and term refinance, owner occupied, single family, non-rural, non-complex, subject property with a loan to value up to 60% with an impound account and a minimum score of 740 FICO. Loans with subordinate financing are ineligible for this offer. Loan fees are typically financed through the loan. Loans are subject to final loan approval based on verification of income, assets and appraised value. Not all applicants will be approved. Restrictions may apply. To be considered for this promotion, receipt of a bona fide Rate Lock Confirmation, Good Faith Estimate and a fully completed Uniform Residential Loan Application (1003) disclosing all loans terms from competing lender which must be dated no more than 5 calendar days from MortgageLoan Corp.s’ tentative approval of initial credit application. These documents must be received no later than 24 hours from initial credit application. Appraisal fee must be paid in advance by the applicant. Should the loan not close for any reason the appraisal fee is non-refundable; MortgageLoan Corp. does not profit from the appraisal fee, since it is a third-party fee paid to a third-party company for a third-party service. If the appraisal fee increases due to a lender required re-inspection, the applicant is responsible for paying the additional cost. No portion of the appraisal fee or re-inspection fee will be refunded if the service has been rendered, and the loan is canceled or declined. A survey fee may be charged to the applicant if required by the lender, and will not be refunded by the lender. Home Owners Association certification fees may be charged when the subject property is a Condominium or PUD, and will not be refunded by the lender. Vesting changes may result in additional fees, and will not be refunded by the lender. Fees charged by applicant’s current lien holder will not be refunded by the lender. Rates and terms subject to change based on market conditions and borrower eligibility. Rate and fees are subject to change for properties located outside of California. Consult your tax advisor for deductibility of interest and loan fees. NMLS Unique Identifier #848020. MortgageLoan Corp. also operates under the name MortgageLoanCorp. MortgageLoan Corp., (Inc.), mortgageLoanCorp, and mortgageloan corp. MortgageLoan Corp. is not licensed in all 50 states. Products and services offered are not available to residents of states in which MortgageLoan Corp. is not licensed. MortgageLoan Corp. reserves the right to discontinue the offer at any time.

PURSUANT TO MORTGAGELOAN CORP.'S TERMS OF USE AGREEMENT AND THE CONSENT FOR ELECTRONIC DISCLOSURES, THE DISCLOSURES AND CONSENTS REQUIRED UNDER CERTAIN FEDERAL AND/OR STATE LAWS ARE DEEMED TO BE PROVIDED, RECEIVED AND AGREED TO BY YOUR USE OF THE WEBSITES (AS DEFINED IN THE TERMS OF USE AGREEMENT).
Updated 05/01/13

 

 

 

 

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