RE - Mortgage Loan Home Equity Cover Sheet

Required Paperwork for Mortgage Loans
___1.
___2.
___3.
___4.
Original sales contract
Last two year’s W-2s
Paycheck stubs from the last 30 days
Copy of last two month’s checking, savings
and investment account statements
___5. Copy of old survey (also needed for refinance)
For New Construction: Original construction contract, bid, set of plans and
specification from contractor are also required.
Required Paperwork for Home Equity Loans
___1. Copy of statement from the County Appraisal
District showing appraised value of your property
___2. Previous year’s W-2(s)
___3. Last two paycheck stubs
___4. Last month’s bank statements for both
checking and savings accounts
___5. Copy of homeowner’s insurance policy
___6. Copy of title insurance policy
___7. Warranty Deed or Deed of Trust
Self-employed applicants or applicants with commission income will need to provide a
year-to-date balance sheet and a profit and loss statement.
Also required are the last two year’s tax returns with original signatures.
Adam Norton
903-323-1217
[email protected]
NMLS: 658523
Courtney Selph
903-323-1249
[email protected]
NMLS: 658525
Deloris Cook
903-323-1215
[email protected]
NMLS: 1111252
Flip Kraus
903-323-1214
[email protected]
NMLS: 584161
Marybel Castillo
903-323-1247
[email protected]
NMLS: 1076194
Tina Brandt
903-323-1155
[email protected]
NMLS: 1112907
Longview Office • 409 E. Loop 281 • Longview, TX 75608 • 800-256-5009 • Fax 903-323-0280
Spring Hill Office • 3801 Gilmer Rd. • Longview, TX 75604 • 903-295-5680 • Fax 903-295-7085
Pine Tree Office • 3502 W. Loop 281 • Longview, TX 75604 • 903-297-6915 • Fax 903-295-3803
Lufkin Office • 406 College Dr. • Lufkin, TX 75904 • 936-634-2292 • Fax 936-634-2295
Marshall Office • 305 S. Alamo Blvd. • Marshall, TX 75670 • 903-938-8801 • Fax 903 938-5342
Kilgore Office • 304 N. Kilgore St. • Kilgore, TX 75662 • 903-983-2513 • Fax 903-983-2427
Nacogdoches Office • 1407 Cardinal Rd. • Nacogdoches, TX 75961 • 936-564-0458 • Fax 936-560-0657
Tyler Office • 850 Rice Rd. • Tyler, TX 75703 • 903-581-5431 • Fax 903-561-5284
Henderson Office • 1201 Highland Dr. • Henderson, TX 75652 • 903-657-3375 • Fax 903-657-1464
www.etpcu.org • Federally insured by NCUA •
Uniform Residential Loan Application
This application is designed to be completed by the applicant(s) with the Lender’s assistance. Applicants should complete this form as “Borrower” or “Co-Borrower,” as applicable. Cothe income or assets of a person other than the “Borrower” (including the Borrower’s spouse)
Borrower information must also be provided (and the appropriate box checked) when
the income or assets of the Borrower’s spouse or other person who has community property rights pursuant to state law will not be
will be used as a basis for loan qualification or
used as a basis for loan qualification, but his or her liabilities must be considered because the spouse or other person has community property rights pursuant to applicable law and
Borrower resides in a community property state, the security property is located in a community property state, or the Borrower is relying on other property located in a community property state as a basis for repayment of the loan.
K
K
If this is an application for joint credit, Borrower and Co-Borrower each agree that we intend to apply for joint credit (sign below):
_____________________________________________________
Borrower
RESET
_________________________________________________________
Co-Borrower
I. TYPE OF MORTGAGE AND TERMS OF LOAN
Mortgage
Applied for:
K VA K Conventional K Other (explain):
K FHA K USDA/Rural Housing Service
Amount
Interest Rate
$
%
Lender Case Number
Agency Case Number
No. of Months Amortization
Type:
K Fixed Rate
K GPM
K Other (explain):
K ARM (type):
II. PROPERTY INFORMATION AND PURPOSE OF LOAN
Subject Property Address (street, city, state & ZIP)
No. of Units
Legal Description of Subject Property (attach description if necessary)
Year Built
Purpose of Loan
K Purchase K Construction
K Other (explain):
K Refinance K Construction-Permanent
Complete this line if construction or construction-permanent loan.
Amount Existing Liens
Original Cost
Year Lot
Acquired
$
$
Complete this line if this is a refinance loan.
Original Cost
Amount Existing Liens
Year
Acquired
$
$
Title will be held in what Name(s)
Property will be:
Primary
Residence
K
Secondary
K Residence
(a) Present Value of Lot
(b) Cost of Improvements
Total (a + b)
$
$
$
Describe Improvements
Purpose of Refinance
K made K to be made
Cost: $
Manner in which Title will be held
Estate will be held in:
K Fee Simple
Leasehold
K (show
expiration date)
Source of Down Payment, Settlement Charges, and/or Subordinate Financing (explain)
III. BORROWER INFORMATION
Borrower
Borrower’s Name (include Jr. or Sr. if applicable)
Social Security Number
K Investment
Co-Borrower
Co-Borrower’s Name (include Jr. or Sr. if applicable)
Home Phone (incl. area code) DOB (MM/DD/YYYY) Yrs. School Social Security Number
Home Phone (incl. area code) DOB (MM/DD/YYYY) Yrs. School
(not listed by Borrower)
(not listed by Co-Borrower)
K Married K Unmarried (include single, Dependents
K Married K Unmarried (include single, Dependents
no.
ages
no.
ages
divorced, widowed)
divorced, widowed)
Separated
Separated
K
K
Present Address (street, city, state, ZIP)
Own
Rent______________No.
Yrs.
Present Address (street, city, state, ZIP)
K
K
K Own K Rent______________No. Yrs.
Mailing Address, if different from Present Address
Mailing Address, if different from Present Address
If residing at present address for less than two years, complete the following:
Former Address (street, city, state, ZIP)
K Own K Rent______________No. Yrs.
K Own K Rent______________No. Yrs.
IV. EMPLOYMENT INFORMATION
Borrower
Name & Address of Employer
Former Address (street, city, state, ZIP)
K
Self Employed
Yrs. on this job
Name & Address of Employer
Co-Borrower
K Self Employed
Yrs. employed in this line
of work/profession
Position/Title/Type of Business
Yrs. employed in this line
of work/profession
Business Phone (incl. area code) Position/Title/Type of Business
Business Phone (incl. area code)
If employed in current position for less than two years or if currently employed in more than one position, complete the following:
Dates (from - to)
Name & Address of Employer
Self Employed
Name & Address of Employer
Self Employed
K
K
Monthly Income
Name & Address of Employer
K Self Employed
Dates (from - to)
Name & Address of Employer
Monthly Income
Position/Title/Type of Business
Freddie Mac Form 65
6/09
Stock No. 11518
W.B.A. 130 HL - FNMA 1003/FHLMC 65 (8/12/09)
Dates (from - to)
Monthly Income
$
Business Phone (incl. area code) Position/Title/Type of Business
Position/Title/Type of Business
Yrs. on this job
$
Business Phone (incl. area code)
K Self Employed
Dates (from - to)
Monthly Income
$
Business Phone (incl. area code) Position/Title/Type of Business
Page 1 of 4
$
Business Phone (incl. area code)
Fannie Mae Form 1003
6/09
V. MONTHLY INCOME AND COMBINED HOUSING EXPENSE INFORMATION
Gross Monthly Income
Base Empl. Income*
Borrower
Co-Borrower
$
$
Overtime
Combined
Monthly Housing Expense
Total
$0
Rent
0
First Mortgage (P&I)
Bonuses
0
Other Financing (P&I)
Commissions
0
Hazard Insurance
Dividends/Interest
0
Real Estate Taxes
Net Rental Income
Other (before completing, see
0
Mortgage Insurance
0
0
Homeowner Assn. Dues
$0
Total
the notice in “describe other
income.” below.)
Total
$0
$0
Present
Proposed
$
$
Other:
$0
$0
* Self Employed Borrower(s) may be required to provide additional documentation such as tax returns and financial statements.
Notice: Alimony, child support, or separate maintenance income need not be revealed if the
Borrower (B) or Co-Borrower (C) does not choose to have it considered for repaying this loan.
Describe Other Income
B/C
Monthly Amount
$
VI. ASSETS AND LIABILITIES
This Statement and any applicable supporting schedules may be completed jointly by both married and unmarried Co-Borrowers if their assets and liabilities are sufficiently joined so that
the Statement can be meaningfully and fairly presented on a combined basis; otherwise, separate Statements and Schedules are required. If the Co-Borrower section was completed about
a non-applicant spouse or other person, this Statement and supporting schedules must be completed about that spouse or other person also.
Jointly
Not Jointly
Completed
I
ASSETS
Description
Cash deposit toward purchase held by:
Cash or Market
Value
$
Liabilities and Pledged Assets. List the creditor’s name, address and account number for all outstanding debts,
including automobile loans, revolving charge accounts, real estate loans, alimony, child support, stock pledges,
etc. Use continuation sheet, if necessary. Indicate by (*) those liabilities, which will be satisfied upon sale of real
estate owned or upon refinancing of the subject property.
LIABILITIES
List checking and savings accounts below
I
Name and address of Company
Monthly Payment &
Months left to Pay
Unpaid
Balance
$ Payment/Months
$
$ Payment/Months
$
$ Payment/Months
$
$ Payment/Months
$
$ Payment/Months
$
$ Payment/Months
$
$ Payment/Months
$
Name and address of Bank, S&L, or Credit Union
Acct. No.
Name and address of Company
Acct. No.
$
Name and address of Bank, S&L, or Credit Union
Acct. No.
Name and address of Company
Acct. No.
$
Name and address of Bank, S&L, or Credit Union
Acct. No.
Name and address of Company
Acct. No.
$
Name and address of Bank, S&L, or Credit Union
Acct. No.
Name and address of Company
Acct. No.
$
Stocks & Bonds (Company name/number
& description)
$
Acct. No.
Name and address of Company
Life Insurance net cash value
$
Face amount: $
Subtotal Liquid Assets
$
Real estate owned (enter market value
$
from schedule of real estate owned)
Acct. No.
Vested interest in retirement fund
$
Net worth of business(es) owned
$
Name and address of Company
(attach financial statement)
Automobiles owned (make and year)
$
Acct. No.
Other Assets (itemize)
6/09
$
Job Related Expense (child care, union dues, etc.)
$
Total Monthly Payments
$
$
Total Assets a. $ 0
Freddie Mac Form 65
Alimony/Child Support/Separate Maintenance Payments
Owed to:
Net Worth
(a minus b)
$0
Page 2 of 4
Total Liabilities b.
$0
Fannie Mae Form 1003
6/09
VI. ASSETS AND LIABILITIES (cont.)
Schedule of Real Estate Owned (If additional properties are owned, use continuation sheet.)
Property Address (enter S if sold, PS if pending sale
or R if rental being held for income)
Type of
Property
Totals
Present
Market Value
Amount of
Gross
Mortgages & Liens Rental Income
Mortgage
Payments
Insurance
Maintenance,
Taxes & Misc.
Net
Rental Income
$
$
$
$
$
$
$0
$0
$0
$0
$0
$0
List any additional names under which credit has previously been received and indicate appropriate creditor name(s) and account number(s):
Alternate Name
Creditor Name
Account Number
VII. DETAILS OF TRANSACTION
a. Purchase price
VIII. DECLARATIONS
If you answer “Yes” to any questions a through i, please use continuation
sheet for explanation.
$
b. Alterations, improvements, repairs
c. Land (if acquired separately)
a.
Are there any outstanding judgments against you?
d. Refinance (incl. debts to be paid off)
b.
Have you been declared bankrupt within the past 7 years?
e. Estimated prepaid items
c.
Have you had property foreclosed upon or given title or deed in lieu
No
Co-Borrower
Yes
No
K K K K
K K K K
K K K K
thereof in the last 7 years?
f. Estimated closing costs
g. PMI, MIP, Funding Fee
h. Discount (if Borrower will pay)
i. Total costs (add items a through h)
Borrower
Yes
d.
Are you a party to a lawsuit?
e.
Have you directly or indirectly been obligated on any loan which resulted
in foreclosure, transfer of title in lieu of foreclosure, or judgment?
0
(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.)
j. Subordinate financing
k. Borrower’s closing costs paid by Seller
f.
l. Other Credits (explain)
Are you presently deliquent or in default on any Federal debt or any
other loan, mortgage, financial obligation, bond, or loan guarantee?
If “Yes,” give details as described in the preceding question.
m. Loan amount
(exclude PMI, MIP, Funding Fee financed)
g.
Are you obligated to pay alimony, child support, or separate maintenance?
h.
Is any part of the down payment borrowed?
i.
Are you a co-maker or endorser on a note?
j.
Are you a U.S. citizen?
k.
Are you a permanent resident alien?
l.
n. PMI, MIP, Funding Fee financed
Do you intend to occupy the property as your primary residence?
If “Yes,” complete question m below.
o. Loan amount (add m &n)
m. Have you had an ownership interest in a property in the last three years?
K K K K
K K K K
K K K K
K
K
K
K
K
K
K
K
K
K
K
K
K
K
K
K
K
K
K
K
K
K
K
K
K K K K
(1) What type of property did you own--principal residence (PR),
second home (SH), or investment property (IP)?
p. Cash from/to Borrower
(subtract j, k, l & o from i)
(2) How did you hold title to the home--solely by yourself (S), jointly
with your spouse (SP), or jointly with another person (O)?
IX. ACKNOWLEDGMENT AND AGREEMENT
Each of the undersigned specifically represents to Lender and to Lender’s actual or potential agents, brokers, processors, attorneys, insurers, servicers, successors and assigns and agrees and
acknowledges that: (1) the information provided in this application is true and correct as of the date set forth opposite my signature and that any intentional or negligent misrepresentation of this
information contained in this application may result in civil liability, including monetary damages, to any person who may suffer any loss due to reliance upon any misrepresentation that I have
made on this application, and/or in criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Sec. 1001, et seq.; (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 illegal or
prohibited purpose or use; (4) all statements made in this application are made for the purpose of obtaining a residential mortgage loan; (5) the property will be occupied as indicated in this
application; (6) the Lender, its servicers, successors or assigns may retain the original and/or an electronic record of this application, whether or not the Loan is approved; (7) the Lender and its
agents, brokers, insurers, servicers, successors and assigns may continuously rely on the information contained in the application, and I am obligated to amend and/or supplement the information
provided in this application if any of the material facts that I have represented herein should change prior to closing of the Loan; (8) in the event that my payments on the Loan become delinquent,
the Lender, its servicers, successors or assigns may, in addition to any other rights and remedies that it may have relating to such delinquency, report my name and account information to one
or more consumer reporting agencies; (9) ownership of the Loan and/or administration of the Loan account may be transferred with such notice as may be required by law; (10) neither Lender
nor its agents, brokers, insurers, servicers, successors or assigns has made any representation or warranty, express or implied, to me regarding the property or the condition or value of the
property; and (11) my transmission of this application as an “electronic record” containing my “electronic signature,” as those terms are defined in applicable federal and/or state laws (excluding
audio and video recordings), or my facsimile transmission of this application containing a facsimile of my signature, shall be as effective, enforceable and valid as if a paper version of this application
were delivered containing my original written signature.
Right to Receive Copy of Appraisal. I/We have the right to a copy of the appraisal report used in connection with this application for credit. To obtain a copy, I/we must send Lender a written
request at the mailing address Lender has provided. Lender must hear from me/us no later than 90 days after Lender notifies me/us about the action taken on this application, or I/we withdraw
this application.
Acknowledgement. Each of the undersigned hereby acknowledges that any owner of the Loan, its servicers, successors and assigns, may verify or reverify any information contained in this
application or obtain any information or data relating to the Loan, for any legitimate business purpose through any source, including a source named in this application or a consumer reporting
agency.
Borrower’s Signature:
Date
Co-Borrower’s Signature:
X
Date
X
X. INFORMATION FOR GOVERNMENT MONITORING PURPOSES
The following information is requested by the Federal Government for certain types of loans related to a dwelling in order to monitor the lender’s compliance with equal credit opportunity,
fair housing and home mortgage disclosure laws. You are not required to furnish this information, but are encouraged to do so. The law provides that a lender may not discriminate either
on the basis of this information, or on whether you choose to furnish it. If you furnish the information, please provide both ethnicity and race. For race, you may check more than one
designation. If you do not furnish ethnicity, race or sex, under Federal regulations, this lender is required to note the information on the basis of visual observation and surname if you have
made this application in person. If you do not wish to furnish the information, please check the box below. (Lender must review the above material to assure that the disclosures satisfy all
requirements to which the lender is subject under applicable state law for the particular type of loan applied for.)
BORROWER
CO-BORROWER
I do not wish to furnish this information
I do not wish to furnish this information
Ethnicity:
Race:
Sex:
K
K Hispanic or Latino K Not Hispanic or Latino
K American Indian or Alaska Native
K Asian
K White
K Black or African American
K Native Hawaiian or Other Pacific Islander
K Female
K Male
Ethnicity:
Race:
Sex:
K
K Hispanic or Latino K Not Hispanic or Latino
K American Indian or Alaska Native
K Asian
K White KBlack or African American
K Native Hawaiian or Other Pacific Islander
K Female
K Male
To be Completed by Loan Originator:
This information was provided:
K In a face-to-face interview
K In a telephone interview
K By the applicant and submitted by fax or mail
K By the applicant and submitted via e-mail or the Internet
Loan Originator’s Signature
Date
X
Loan Originator’s Name (print or type)
Loan Originator Identifier
Loan Originator’s Phone Number (including area code)
Loan Origination Company’s Name
Loan Origination Company Identifier
Loan Origination Company’s Address
Freddie Mac Form 65
6/09
Page 3 of 4
Fannie Mae Form 1003
6/09
Continuation Sheet/Residential Loan Application
Use this continuation sheet if you
need more space to complete the
Residential Loan Application.
Mark B for Borrower or C for
Co-Borrower.
Borrower:
Agency Case Number:
Co-Borrower:
Lender Case Number:
IMPORTANT INFORMATION ABOUT
PROCEDURES FOR OBTAINING CREDIT
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and
record information that identifies each person who obtains credit.
What this means for you: When you obtain credit, 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.
NOTICE: We may report information about your account to credit bureaus. Late payments, missed payments, or other defaults on your account may be
reflected in your credit report.
NOTICE TO MARRIED APPLICANTS: No provision of any marital property agreement, unilateral statement under §766.59, Wis. Stats., or court decree
under §766.70 adversely affects the interest of the creditor unless the creditor, prior to the time the credit is granted or an open-end credit plan is entered
into, is furnished a copy of the agreement, statement or decree or has actual knowledge of the adverse provision.
I/We fully understand that it is a Federal crime punishable by fine or imprisonment, or both, to knowingly make any false statements concerning any of the above facts as applicable under
the provisions of Title 18, United States Code, Section 1001, et seq.
Borrower’s Signature:
X
Freddie Mac Form 65
Date
Co-Borrower’s Signature:
Date
X
6/09
Page 4 of 4
Fannie Mae Form 1003
6/09
BORROWER SIGNATURE AUTHORIZATION
PART I - General Information
1. Borrow er(s)
3. Date
2. Lender Name and A ddress
4. Loan Number
PART II - Borrow er Authorization
I hereby authorize the Lender to verify my past and present employment earnings records, bank accounts, stock
holdings and any other asset balances that are needed to process my mortgage loan application. I further
authorize the Lender to order a consumer credit report and verify other credit information, including past and
present mortgage and landlord references. It is understood that a copy of this form w ill also serve as
authorization.
The information the Lender obtains is only to be used in the processing of my application for a mortgage loan.
Borrow er
Date
Borrow er
Date
Co-Borrow er
Date
Co-Borrow er
Date
NOTICE TO BORROWERS: This is notice to you as required by the Right to Financial Privacy Act of 1978 that
HUD/FHA has a right of access to financial records held by financial institutions in connection w ith the
consideration or administration of assistance to you. Financial records involving your transaction w ill be available
to HUD/FHA w ithout further notice or authorization but w ill not be disclosed or released by this institution to
another Government Agency or Department w ithout your consent except as required or permitted by law .
-2 3 B (9 2 0 7 ).0 2
V M P M ort gage Solut ions (8 0 0 )5 2 1 -7 2 9 1
6 /9 2
SERVICING DISCLOSURE STATEMENT NOTICE TO FIRST LIEN
MORTGAGE LOAN APPLICANTS: THE RIGHT TO COLLECT YOUR
MORTGAGE LOAN PAYMENTS MAY BE TRANSFERRED
You are applying for a mortgage loan covered by the Real Estate Settlement Procedures
Act (RESPA) (12 U.S.C. 2601 et seq.). RESPA gives you certain rights under Federal
Law. This statement describes whether the servicing for this loan may be transferred to a
different loan servicer.
“Servicing” refers to collecting your principal, interest, and escrow payments, any, as
well as sending any monthly or annual statements, tracking account balances, and
handling other aspects of your loan. You will be given advance notice before a transfer
occurs.
Servicing Transfer Information
We may assign, sell, or transfer the servicing of your loan while the loan is outstanding.
Warning
“Warning: Intentionally or knowingly making a materially false or misleading
written statement to obtain property or credit, including a mortgage loan is a
violation of Section 32.32, Texas Penal Code, and depending on the amount of
the loan or value of the property, is punishable by imprisonment for a term of 2
years to 99 years and a fine not to exceed $10,000.00.
“I/we, the undersigned home loan applicant(s), represent that I/we have
received, read, and understand this notice of penalties for making a materially
false or misleading written statement to obtain a home loan.
“I/we represent that all statements and representations contained in my/our
identity, employment, annual income, and intent to occupy the residential real
property secured by the home loan, are true and correct as of the date of loan
closing.”
_________________________________
Applicant
________________
Date
_________________________________
Co-Applicant
________________
Date
APPROVED COUNSELING AGENCIES
The counseling agencies on this list are approved by the U. S. Department of Housing and
Urban Development (HUD), and they can offer independent advice about whether a particular
set of mortgage loan terms is a good fit based on your objectives and circumstances, often at
little or no cost to you. This list shows you several approved agencies in your area. You can
find other approved counseling agencies at the Consumer Financial Protection Bureau’s
(CFPB) website: consumerfinance.gov/mortgagehelp or by calling 1-855-411-CFPB (2372).
You can access a list of nationwide HUD-approved counseling intermediaries at
http://portal.hud.gov/hudportal/HUD?
1. Cccs of Greater Dallas – Longview
1800 NW Loop 281
Suite 201
Longview, TX 75604-2568
Website: http://www.cccs.net
Phone: 903-297-2900
Email Address: [email protected]
3. Cccs of Greater Dallas – Tyler
1001 Ese Loop 323
Suite 323
Tyler, TX 75701-96664
Website: http://www.cccs.net
Phone: 214-638-2227
Email Address: [email protected]
2. Marshall Housing Authority
1401 Poplar St.
Marshall, TX 75670-2115
Website: https://www.hud.gov
Phone: 903-938-0717
Email Address: [email protected]
5. Volunteers of America of North Louisiana
520 Olive St. Ste B-200
Shreveport, LA 71104-2312
Website: https://voanorthla.org
Phone: 318-221-8404
Email Address: [email protected]
6. Money Management International Lufkin
2718 S Medford Dr.
Lufkin, TX 75901-6122
http://www.moneymanagement.org
Phone: 866-232-9080
[email protected]
4. Caddo Community Action Agency
4055 Saint Vincent Ave
Shreveport, LA 71108-2542
Website: Not Available
Phone: 318-861-4808
Email Address: [email protected]
USA Patriot Act Information Disclosure
Important Information about Application Procedures
To help the government fight the funding of terrorism and money laundering
activities, Federal law requires all financial institutions to obtain, verify, and
record information that identifies every customer.
What this means to you: When you apply for a loan, 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.
I/We acknowledge that I/we received a copy of this disclosure.
_______________________________
Borrower
______________
Date
_______________________________
Borrower
______________
Date
RIGHT TO RECEIVE A COPY OF AN APPRAISAL
BORROWER(S):_______________________________________________________________
PROPERTY ADDRESS:_________________________________________________________
We may order an appraisal to determine the property’s value and charge you for this appraisal.
We will promptly give you a copy of any appraisal, even if your loan does not close. You can
pay for an additional appraisal for your own use at your own cost.
You have a right to receive a copy of all written appraisals developed in connection with the
application. In accordance with the Equal Credit Opportunity Act (ECOA) East Texas
Professional Credit Union agrees to provide you a copy of the appraisal and/or other written
valuations promptly upon completion or three business days before consummation, whichever is
earlier.
(
)
(
)
(
(
)
)
NEW APPRAISAL DONE BY A FEE APPRAISER IN CONNECTION WITH THIS
LOAN.
STATEMENT FROM A CENTRAL APPRAISAL DISTRICT SUPPORTING
THE VALUE USED FOR THE PROPERTY IN LIEU OF A NEW APPRAISAL
EXISTING APPRAISAL REPORT LESS THAN 2 YEARS OLD
OTHER EVALUATION USED IN CONNECTION WITH THIS LOAN.
Borrower(s) acknowledges receipt of an exact copy of this document
BORROWER: ________________________________________
DATE:____________
BORROWER:_________________________________________
DATE:____________
I/We hereby waive the ECOA Valuations Rule requiring receipt of the valuation 3 business days
before consummation and agree to the delivery of the valuation at or before consummation or
account opening.
BORROWER: ________________________________________
DATE:____________
BORROWER:_________________________________________
DATE:____________