Subordination Request (Page 2 of 2) in pdf

SUBORDINATION REQUEST FORM

Please Print

Digital Federal Credit Union • 220 Donald Lynch Blvd.

PO Box 9130 • Marlborough, MA 01752-9130

508.263.6700 • 800.328.8797 • •

PART 1 – To be completed by lender.

Contact person for subordination: _____________________ Company name: __________________________________

Telephone # (____)_____________________________ Fax # (____)_________________________________________

Borrower or Co-borrowers Name: ___________________________________ Member #__________________________

Date of the request for subordination______________ Anticipated closing date: ________________________________

Federal Express Number_______________________

Guidelines: For Primary residences, the CLTV shall not exceed 80%, for loans that qualify with our credit score criteria.

Further CLTV restrictions may apply for Second Homes or Investment Properties. Loans with lower scores may require

a further reduction in the maximum CLTV. If CLTV exceeds our underwriting criteria, the member must reduce their line

of credit and/or loan balance. Digital Federal Credit Union will provide a Reduction Form to be signed by Borrower and

returned to Digital Credit Union along with this form, stating they are aware that their limit is being reduced.

In consideration of the execution of a Subordination Agreement by Digital Federal Credit Union, in accordance with their

specific guidelines, please provide the following information:

Borrowers name as indicated on Equity Loan:_____________________________________

Street Address:_____________________________________________________________

City: _________________________ State: ____________ Zip Code:_________

County property is registered in______________________

DCU Home Equity Book#:___________ Page#:___________ (or Instrument/Document #) _______________

New 1st mortgage amount: $ _______________________

Subordination loan amount:

$ _______________________ Date Home Equity was opened:_____________

New combined loan to value %___________________________________________

Appraisal Value $____________________Dated_____________________________

Please note: a full approval is required and should be submitted with the subordination request.

Name of the institution refinancing mortgage that is to appear on subordination:__________________________________

_________________________________________________________________________________________________

Where is subordination to be sent to, and to whose attention: ________________________________________________

_________________________________________________________________________________________________

I have provided the above information to the Digital Federal Credit Union in order to induce them to execute a

Subordination Agreement and expect Digital Federal Credit Union to rely on the accuracy of such information.

Please Sign ________________________________

(Lender’s Signature)

PART 2 – To be completed by borrower.

I authorize DCU to withdraw the non-refundable $150 subordination request processing fee from my DCU Account:

Member # _____________________________ Share # _________________________________

Please Sign ________________________________

(Borrower’s Signature)

Rev. 6. 2009

Subordination Request Page 2