Disclosures

In accordance with State and Federal regulations, the following disclosure information is available for you to review:

USA Patriot Act Disclosure (Borrower Identification):

To help the Government fight the funding of terrorism and money laundering, Federal Law requires Financial Institutions to obtain, verify and record information that identifies each person who opens an account.  What this means to you: When you open an account we will ask for your name, address, date of birth and other information that will allow us to identify you.  We may also ask to see your driver's license or other identifying documents.  We require two forms of identification for each borrower in order to comply with Section 326 of the Act.

For persons without a SSN/TIN; the ID number must be from one of the following: Passport, Alien ID Card, or any other Government issued document evidencing nationality or residence and bearing a photograph or similar safeguard.

Affidavit of Occupancy:

Applicant(s) hereby certify and acknowledge that, upon taking title to the real property described in the loan documents, their occupancy status will be one of the options as follows:

• Primary Residence - Occupied by Applicant(s) within 30 days of closing.
• Secondary Residence - To be occupied by Applicant(s) at least 15 days yearly, as second home (vacation, etc.) while maintaining principal residence elsewhere.
• Investment Property - Not owner occupied.  Purchased as an investment to be held or tented.

The applicant(s) acknowledge it is a Federal crime punishable by fine or imprisonment, or both, to knowingly make a false statement concerning a loan application as applicable under the provisions of Title-18, United States Code, Section 1014.

Anti-Coercion Statement:

The insurance laws of this state (California) provide that the lender may not require the applicant to take insurance through any particular insurance agent or company to protect the mortgaged property.  The applicant, subject to the rules adopted by the Insurance Commissioner, has the right to have the insurance placed with an insurance agent or company of his/her choice, provided the company meets the requirements of the lender.  The lender has the right to designate reasonable financial requirements as to the company and the adequacy of the coverage.

Fair Credit Reporting Act:

An investigation will be made as to the credit standing of all individuals seeking credit when applying for a loan. The nature and scope of any investigation will be furnished to you upon written request made within a reasonable period of time.  In the event of credit denial due to an unfavorable consumer report, you will be advised of the identify of the Consumer Reporting Agency making such report and of your fight to request, within sixty (60) days the reason for the adverse action, pursuant to provisions of Section 615(b) of the Fair Credit Reporting Act.

Following are additional disclosures in printable format:

HUD Booklet; Buying Your Home - Settlement Costs and Helpful Information

HUD Booklet; Fair Housing - Equal Opportunity for All

RESPA DIsclosure (Real Estate Settlement Procedures Act)

HUD (U.S. Department of Housing and Urban Development)