New York Mortgage - Federal and State Disclosures

When applying for a mortgage home loans, you have certain rights. Federal and New York State
regulatory bodies require that mortgage banks and brokers inform you about your rights, as such,
please read, sign and fax the following disclosures to me as part of the application documents. All
parties applying for mortgage loan need to sign them.

Borrower Authorization

- authorizes us to act on your behalf pertaining to this loan application

and to purchase your credit report.

Equal Credit Opportunity Act

- a federal act that protects loan applicants

from

discrimination

base on race, color, sex, religion, country of origin, age, and marital status.

Fair Lending Notice

- outlaws the practice of redlining and discriminations.

- we have a fiduciary duty to safeguard your personal information.

Pre-application Disclosure

- explains our role as a broker, compensation to us and by whom,

the fees we collect (then pays to the vendors), banks we use most often, and if the fees are split

amongst others.

Good Faith Estimate

- itemized settlement costs you are likely to incur in association of this

mortgage application. You will be given a GFE with information particular to your loan

application. Keep in mind that the GFE is only estimates

fees charged by

different service

vendors, i.e. attorney, title search.

This list of documents are needed to complete the application. Not all documents are required, only
those pertain to your particular loan program are needed.

This Good Faith Estimate explanation describes some of the more common items on the GFE.

See this sample GFE. Keep in mind this is only a sample. Different loan amount, interest rate, loan
terms, whether a purchase or refinance, property location, etc. all affect the closing costs.










					Registered Mortgage Broker - NYS Banking Department. Loans arranged through third party providers. This is not a commitment to lend. Loan programs subject to change without notification. Equal Housing Opportunity.