Customer Quality of Assistance Standards

It is our policy to provide the same quality of assistance to every mortgage applicant. We require each of our employees involved in the origination process, underwriting and closing of your mortgage application to exercise his or her best personal and professional efforts to insure that this policy is consistently followed.

We understand that you may be unfamiliar with the mortgage application process and what to expect during that process. To describe the process more clearly, we are providing you with our Customer Quality of Assistance Standards, which also include a basic overview of the mortgage application process. We believe our efforts will assist you in submitting a better application.

We know that they key element of an effective Quality of Assistance program is timely communication with you at every stage of the application process. Our employees will assume the lead role in this communication process and will take every opportunity to solicit information and explanations from you that will allow the process to proceed without unnecessary delay and provide the best possible opportunity for your application to be approved.

AT A MINIMUM, you are entitled to the following assistance:

1. You are entitled to an opportunity to receive information on all our available mortgage products.
2. You will be encouraged to submit a complete application and to seek assistance in completing the application.
3. You will be encouraged to fully document all forms and amounts of income, including gross income, current salary, and anticipated salary increases in secondary and part-time income. You will be informed on whether and how much of the income is able to be included in our evaluation of your application, and what you or your employer must do to verify and document such income.
4. If you are unable, or your employer is unwilling, to provide adequate documentation for income verification, we will take special care to consider acceptable alternative means of documenting your income, and are prepared to assist you in submitting such acceptable documentation.
5. If appropriate, you will be provided general advice and assistance on ways in which you can reduce debt ratios, such as by documenting all sources of income or by reducing monthly debt service. If appropriate, you will receive general advice and assistance regarding, among other measures, (1) consolidation or payoff of other debt, (2) sale of assets, (3) borrowing from life insurance policies or pension plans, (4) closing credit cards or other revolving debt, (5) transfer of obligations to family members (which may require the approval of the original creditor), or (6) securing gift letters.
6. If your credit bureau report contains derogatory entries (items that may normally result in the denial of your application), we will take special care to communicate with and inform you of the opportunity to correct any entries you believe are erroneous and also the opportunity to provide explanations or clarifications of the derogatory entries.
7. If you do not have what we consider to be a generally recognized prior credit history, we are prepared to assist you in documenting an acceptable alternate credit history by establishing factors such as proof of satisfactory rent and utility payments, medical payments, etc.
8. YOUR BUSINESS IS IMPORTANT TO US AND WE WANT TO MAKE EVERY REASONABLE EFFORT TO ASSIST YOU IN PREPARING AN APPLICATION THAT WE MAY APPROVE. PLEASE REMEMBER THAT COMMUNICATION IS A TWO-WAY PROCESS AND THAT WE NEED YOUR HELP TO ALLOW US TO ASSIST YOU MOST EFFECTIVELY. SO PLEASE MAKE US AWARE OF POTENTIAL PROBLEMS AND RESPOND PROMPTLY TO OUR EFFORTS.