Form Re 885 - Mortgage Loan Disclosure Statement/good Faith Estimate Page 4
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6XV.
Credit Life and/or Disability Insurance: The purchase of credit life and/or disability insurance by a borrower is NOT required
as a condition of making this proposed loan.
No
Yes
.
Other Liens: Are there liens currently on this property for which the borrower is obligated?
XVI
If Yes, describe below:
Lienholder’s Name
Amount Owing
Priority
____________________________________________________________________________________________________
____________________________________________________________________________________________________
____________________________________________________________________________________________________
Liens that will remain or are anticipated on this property after the proposed loan for which you are applying is made or arranged
(including the proposed loan for which you are applying):
Lienholder’s Name
Amount Owing
Priority
____________________________________________________________________________________________________
____________________________________________________________________________________________________
____________________________________________________________________________________________________
NOTICE TO BORROWER: Be sure that you state the amount of all liens as accurately as possible. If you contract with the
broker to arrange this loan, but it cannot be arranged because you did not state these liens correctly, you may be liable to pay
commissions, costs, fees, and expenses even though you do not obtain the loan.
Article 7 Compliance: If this proposed loan is secured by a first deed of trust in a principal amount of less than $30,000 or
XVII.
secured by a junior lien in a principal amount of less than $20,000, the undersigned broker certifies that the loan will be made
in compliance with Article 7 of Chapter 3 of the Real Estate Law.
A. This loan may will will not be made wholly or in part from broker controlled funds as defined in Section 10241(j)
of the Business and Professions Code.
B. If the broker indicates in the above statement that the loan “may” be made out of broker‑controlled funds, the broker must
inform the borrower prior to the close of escrow if the funds to be received by the borrower are in fact broker‑controlled
funds.
XVIII. This loan is based on limited or no documentation of your income and/or assets and may have a higher interest rate, or more
points or fees than other products requiring documentation: No Yes
NOTICE TO BROkER
If any of the columns in section XIX, Comparison of Sample Mortgage Features, on page 4 of this RE 885 form, are not
completed, you must certify to the following:
CERTIFICATION
I, ________________________________________, hereby certify (or declare) that the failure to complete the information in
any or all of the columns (with the exception of the last column "Proposed Loan" in the Typical Mortgage Transactions portion
of this RE 885) is either because (1) after a diligent search, I have determined that the product specified in that column is not
available to consumers from mortgage lenders, or (2) the borrower to whom this form applies does not qualify for that particular
product.
I certify (or declare) under penalty of perjury under the laws of the State of California that the foregoing is true and correct.
Signature of Broker
Date
Intentionally Blank
RE 885 — Page 3 of 4
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