"Whoever is careless with the truth in small matters cannot be trusted with important matters." — Albert Einstein.
Please, take a moment to analyze all the information needed and fill out the pre-loan application to the best of your knowledge."Trust, but verify." — Ronald Reagan.
Providing wrong or incomplete information may result in a request for further evidence causing a delay in the decision-making process or a complete denial of funding.
Each of the undersigned partied specifically represents the Lender and each of its actual and potential agents, brokers, and processors. atomeys insurers, servicers, successors, and assigns and agrees and acknowledges that (1) the information provided in this application is true and comect as of the date set forth opposite the signature and that any intentional or negligent misrepresentation of this information contained in the application may result in civil ability to any person who may suffer any loss due to reliance upon any misrepresentation that I have made in this application andior criminal penalties (2) the loan requested pursuant to this application (the "Loan") will be secured by a mortgage or deed of trust on the property described in this application: (3) the property will not be used for any legal or prohibited purpose or use (4) the property will be non-owner occupied (5) Lender and its successors and assigns may retain the original and/or electronic record of this application whether or not the loan is approved and/or funded. (6) Lender and each of Lender's actual or potential successors, assigns, servicers, brokers, agents, insurers, and representatives may continuously rely on the information contained in this application and am obligated to amend and/or supplement the information provided in this application if any of the successors or assigns of the aforementioned parties in addition to any other rights and remedies that it may have related to such delinquency, may report my name and account information to one or more of the consumer credit reporting agencies; (8) neither Lender nor any of its agents, brokers, insurers, servicers successors or assigns have made any representation or warranty, express or implied, to me regarding the property or the condition or value of the property, and (9) my transmission of this application as an electronic record contained my 'electronic signature as those terms are defined in applicable federal and/or state laws, or by facsimile transmission of this application containing a facsimile of my signature shall be effective enforceable and valid as if a paper version of this application were delivered containing my original written signature Each of the undersigned parties hereby acknowledges and agrees that the Lender, any owner of the Loan, each of their servicers, successors, and assigns may verify or re-verify any information contained in this application or obtain any information or data relating to the Loan for legitimate business purpose through any source including a source named in this application or any credit reporting agency.
(This would include such loans as home mortgage loans, SBA loans, home improvement loans, educational loans, manufactured [mobile] home loans, any mortgage, financial obligation, bond, or loan guarantee. If “Yes”, provide details, including date, name, and address of lender, FHA or VA case number, if any, and reasons for the action.)
Each of the undersigned hereby authorize Lender and Lender’s actual or potential lenders, agents, brokers, processors, attorneys, insurers, successors and assigns (collectively “Lender”) to make all inquiries it deems necessary to verify the accuracy of the information provided herein, and to determine my/our credit worthiness. This includes my/our and my company’s past and present employment, earnings records, bank accounts, stock holdings, insurance information and any other asset balances needed to process this private funding application. I/we also hereby authorize the release of any information necessary for any purpose related to our credit transaction with Lender, whether such information is maintained by a third party or an Office of Foreign Assets Control (OFAC) inquiry. I/we further authorize the Lender to engage in the credit processing of my private funding application. This authorization expires after 120 days from the date indicated below. I/we understand this application is intended for a private funding credit approval and any credit information, including loan approval, terms and funding amount offered or denied is assessed under private lending criteria. This application shall serve as authorization and consent to be evaluated in a requested an electronic signature will serve as a legal signature. Privacy Act Notice: This information is to be used for the company’s program. Each undersigned party authorizes Lender and its designees to obtain whatever credit reports are available in connection with providing money funding. It will not be disclosed outside the company and its affiliates except as required and permitted by law. You do not have to provide this information, but if you do not your application for approval as a prospective private funding borrower may be delayed or rejected.
