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Commitment
to Service
Shelter Rock
Mortgage Corporation is committed to being an “Upfront Mortgage
Broker”. As such, our
clients can depend on a level of service they can rely on.
Our mortgage
brokerage agreement contracts us to the following:
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We are the customer's representative or agent, and will endeavor to act in the best interests of the customer.
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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.
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Any
fees collected for third party services, such as an appraisal fee,
will be for the exact amount of that service. Invoices will be
provided on request.
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Any
fees collected from the lender will be credited to the brokerage fee
payable from the borrower.
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The wholesale prices which Shelter Rock Mortgage Corporation selects from will be disclosed to the customer.
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If the customer elects to float the rate/points, Shelter Rock Mortgage Corporation will provide the customer the best wholesale price available to the customer on the day the loan is finally locked.
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Shelter
Rock Mortgage Corporation will use its best efforts in locating a
lender to meet the client’s needs and at the right price.
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The
mortgage commitment shall be issued in the name of the lender who will
be funding the mortgage. It will acknowledge all compensation received
by Shelter Rock Mortgage Corporation from any party.
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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.
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All personal information supplied to Shelter Rock Mortgage Corporation is kept strictly confidential. Information is only released to the lender, or lenders, who will be underwriting the mortgage application.
In addition to being actively involved in The Upfront Mortgage Brokers Association Shelter Rock
Mortgage Corporation is a member of the Better Business Bureau, subscribes
to the code of ethics of the New York Association of Mortgage Brokers as
well as meeting the National Association of Mortgage Brokers standards of Lending Integrity.
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