The Greater Mortgage Corporationis committed to being an “Upfront Mortgage Broker”. As such, our clients receive the most reliable level of service available.
Our Mortgage Brokerage Agreement contracts us to the following:
USEFUL LINKS:
Upfront Mortgage Brokers at www.upfrontmortgagebrokers.org
National Association of Mortgage Brokers at www.namb.org
New York Association of Mortgage Brokers at www.nyamb.org
New York State Banking Department at www.banking.state.ny.us
Our Mortgage Brokerage Agreement contracts us to the following:
- We are the customer’s representative or agent,
and will endeavor to act in the best interests of
the customer.
- The brokerage fee is established upfront, in writing,
as a percentage of the final mortgage amount. It is
considered earned only after the applicant has accepted
the terms of the commitment and is payable when the
mortgage closes.
- Any fees collected for third party services, such as an
appraisal fee, will be for the exact amount of that
service.
- Any fees collected from the lender will be credited to
the brokerage fee payable from the borrower.
- The wholesale prices which The Greater Mortgage
Corporation selects from will be disclosed to the
customer.
- If the customer elects to float the rate/points, The
Greater Mortgage Corporation will provide the
customer the best wholesale price available to the
customer on the day the loan is finally locked.
- The Greater Mortgage Corporation will use its best
efforts in locating a lender to meet the client’s needs.
- The mortgage commitment shall be issued in the name
of the lender who will be funding the mortgage. It will
acknowledge any compensation to The Greater
Mortgage Corporation from any party.
- The rate and terms of the mortgage will be locked at
the direction of the client. The written confirmation
will be issued by the lender and forwarded to the client.
- All personal information supplied to The Greater Mortgage Corporation is kept strictly confidential. Information is only released to the lender who will be underwriting the mortgage application.
USEFUL LINKS:
Upfront Mortgage Brokers at www.upfrontmortgagebrokers.org
National Association of Mortgage Brokers at www.namb.org
New York Association of Mortgage Brokers at www.nyamb.org
New York State Banking Department at www.banking.state.ny.us