Form Re 883 - Mortgage Loan Disclosure Statement - California Department Of Real Estate
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S
C
tate of
alifornia
D
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Providing Service, Protecting You
M
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ortgage
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RE 883 (Rev. 10/10)
For any federally related mortgage loan, HUD/RESPA laws require that a Good Faith Estimate (GFE) be provided in addition to
this disclosure form.
This disclosure statement meets the requirement described in Business and Professions Code (B&P) Section 10240 for loan
products offered to the consumer that DO NOT allow the borrower to defer payment of principal and interest (P&I). Each
payment will include the full amount of P&I due.
For a non-traditional mortgage loan for a 1-4 Unit Residential Property - THIS IS THE WRONG FORM. See RE 885.
This Mortgage Loan Disclosure Statement does not constitute a loan commitment.
BORROWER'S NAME(S)
REAL PROPERTY COLLATERAL: THE INTENDED SECURITY FOR THIS PROPOSED LOAN WILL BE A DEED OF TRUST OR MORTGAGE ON (STREET ADDRESS OR LEGAL DESCRIPTION)
THIS MORTGAGE LOAN DISCLOSURE STATEMENT IS BEING PROVIDED BY THE FOLLOWING CALIFORNIA REAL ESTATE BROKER ACTING AS A MORTGAGE BROKER
¨
Unknown
INTENDED LENDER TO WHOM YOUR LOAN APPLICATION WILL BE DELIVERED (IF KNOWN)
B&P Section 10241 requires the disclosure of all costs and expenses incurred with origination of real estate mortgage loans. The
required fee disclosures must include, but are not limited to, the following fees and expenses:
BROKER COMMISSION
ORIGINATION FEE
DISCOUNT POINTS
APPRAISAL FEE
CREDIT REPORTING FEE
TAX SERVICE FEE
PROCESSING FEE
UNDERWRITING FEE
WIRE TRANSFER FEE
FIRE INSURANCE PREMIUM
ESCROW FEE
TITLE INSURANCE FEE
TOTAL
NOTARY FEE
RECORDING FEE
ASSUMPTION FEE
FORWARDING FEE
TRANSFER FEES
BENEFICIARY STATEMENT
FLOOD INSURANCE
OTHER
OTHER
OTHER
FEE
ADDITIONAL REQUIRED CALIFORNIA DISCLOSURES
Proposed Loan Amount
$_____________
Total Fees, Costs, and Expenses from Above
$_____________
Down Payment or Payoffs Liens/Creditors (list)
$_____________
__________________________________________
$_____________
__________________________________________
$_____________
__________________________________________
$_____________
Subtotal $_____________
$_____________
$______________
¨
¨
Estimated Cash at Closing
To You
That You Must Pay
GENERAL INFORMATION ABOUT LOAN
Proposed Monthly Loan Payments: $__________________ Principal & Interest (P&I)
PROPOSED INTEREST RATE:
%
If the loan is a variable interest rate loan, the payment will vary. See loan documents for details.
_________________________________
Total Number of Installments: ____________________
¨
¨
FIXED RATE
INITIAL VARIABLE RATE
Loan Term: __________ Years ___________ Months
PREPAYMENT PENALTY
IS THERE A PREPAYMENT PENALTY?
TERMS OF PREPAYMENT
¨ Yes ¨ No
Compensation to Broker
Yield Spread Premium, Service Release Premium or Other Rebate Received from Lender $_________________
Yield Spread Premium, Service Release Premium or Other Rebate Credited to Borrower $_________________
Total Amount of Compensation Retained by Broker
$_________________
Note: The purchase of Credit Life and/or Disability Insurance is NOT required as a condition of making this proposed loan.
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