"Thanks so much for taking the time to review my information. It has been  extremely helpful. While I know it's just business on the part of the lenders, it really hurts that some of them do not hesitate to prey on folks like me who simply don't understand this type of thing. But your insight and expertise has been more than eyeopening. I will certainly recommend you guys  to my friends and family."

K. Northington, MA

"Everyone should deal with a RMA.  My first broker was making 4.5 points on my loans - 3 of which came from putting me into a higher rate without my knowledge or consent.  Thanks MortgageTrap!"

Michelle Martinez, IL

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Residential Mortgage Advocate™ Commitment

I maintain these standards and have willingly signed this commitment to that effect.

I.  I will not disclose any of your personal information to any third party, unless such is required in the preparation of your loan request and only with your permission.

II.  I will at all times make a concerted effort to perform in  your best interests throughout the loan process.

III.  I will give accurate rate quotes to you based upon the information you provide to me and will provide you with the rate sheets for your inspection if you so ask to review them.

IV.   Should the rate change due to circumstances outside my control, I will inform you immediately of the change and provide the reason therefore, letting you know your options.

V.  I will provide you with an accurate estimate of fees (Good Faith Estimate = GFE) within 3 days of application.

VI.  I will make every effort to not change my fees after the initial GFE is provided to you.  This does not include 3rd party fees which are beyond my control.  Invoices for said 3rd party fees will be provided upon your request for review.  Should the fees change, I will provide full disclosure as to the reason for the change.

VII.  I will tell you at application of the items required of you and will listen to your goals when helping you apply for your mortgage loan.

VIII.  I will confer with you on my fee compensation - whether it be via an origination fee or yield spread premium - or a combination thereof depending upon which you prefer. 

IX.  I also agree that I will charge no Junk fees or pad my fees (a variance of 20-25% is acceptable) in any way.  I will provide you with invoices or proof of all third party fees 3 days prior to closing.

X.    If I request any upfront fees, I agree that all such deposits shall be used to pay for 3rd party fees such as an appraisal or credit report and that any amounts remaining shall be credited to you at closing.

XI.  Upon your direction, I will lock the rate of your loan. 

XII.  Should I display rates on my individual website, I will indicate whether the rate is wholesale or includes any adjustments (and the basis therefor).

XIII.  I will, at no time, coerce or steer you into a mortgage product or property that is not in your best interests based upon my experience and training as well as your wishes.  I will abide by all Federal Protections afforded to you.

With my signature, I hereby agree to the foregoing. 

Signed:  _________________________________

Residential Mortgage Advocate™ (RMA)

*The term "I" includes the singular and the plural (in the event of a company).