Answers to your questions FAQ Index | General | Mortgage Tools | Rates & Costs | Loan Decision | Closing   Is my customer's information saved as I go through your site?     Once you have entered your customer's information on each page, the information will be saved when you complete that page and click "Continue." If you leave the site and return at a later time, you'll find the saved information by clicking on Pipeline & Loan Status and clicking on your customer's name.   Back to FAQ index   What if I want to make a change to my customer's information before I submit it online?     Return to the site and go to the Pipeline & Loan Status page. This page will give you access to all of the loans that you currently have in your pipeline. Clicking on loans that have not registered yet will allow you to access the loan and modify any of the information.   Back to FAQ index   What if I want to make a change to my customer's information after I have already submitted online?     If you have already submitted the information, please call us toll-free at, . One of our mortgage counselors will be happy to help you with any changes.   Back to FAQ index   How do you use the personal information I enter on this site?     We respect the fact that a mortgage loan application contains confidential information which needs to be treated responsibly and with care, just as we would treat private information entrusted to us by a close friend or relative. For that reason, we use the most advanced security system available in our Internet based communications, and in the management of personal records.   Back to FAQ index   How can I be sure the information my customer and I provide on your site is secure?     We respect and understand that you have provided us with confidential information about your customer which needs to be treated responsibly and with care, just as we would treat private information entrusted to us by a close friend or family member. For that reason, we use the most advanced security system available in our Internet based communications, and in the management of personal records.   Back to FAQ index   Do you provide loans for properties in all 50 states and Washington, D.C.?     Yes. Back to FAQ index   Can my customer be approved for a loan before they’ve found a property?     Absolutely! We not only support the idea, but strongly encourage it. By getting approved now, your customer will know exactly what they qualify for before they begin shopping. Realtors and sellers will recognize them as a serious buyer because financing is already arranged. This may be an advantage when making an offer. We take into account current income, debt and credit history in order to approve your customer and determine the amount for which they qualify. Once your customer finds a property, and signs a sales agreement, we can continue processing the loan.   Back to FAQ index   Why is an appraisal necessary? Can my customer use the tax value of the home?     Appraisals compare the current market value of your customer's home to other homes in the area that have recently been sold. Tax values can sometimes be higher or lower and may not reflect the actual appraised value of the home. A current appraisal is necessary for the lender to justify the loan amount requested and is required by our secondary investors. You and your customer should not, however, rely on the appraisal for assurance about the condition of the home or as a guarantee of its value.   Back to FAQ index   How is the appraisal obtained?     After you have reserved funds on behalf of your customer, we will arrange a date and time for the property appraisal. You will be asked to provide a contact name from your customer so that we can make arrangements for an appraiser to appraise the property. The appraiser will call the contact person listed for access to the property. If your customer is purchasing a home, you can list either their real estate agent or the seller's agent. Once the appraisal is complete, the appraiser will send us the results, and one of our mortgage counselors will contact your customer directly.   Back to FAQ index   Who can tell my customer what their property taxes will be?     The seller and/or your customer's Realtor should provide your customer with the current taxes for the property. Property taxes are reassessed from time to time, so this amount may change. If your customer would like to confirm what their taxes would be, they can contact the county Recording Office.   Back to FAQ index   What is a Good Faith Estimate?     Required by federal law, the Good Faith Estimate (GFE) is a written list of the estimated closing costs associated with a mortgage transaction, including the lender's charges along with the local closing agent's charges and fees. It also includes estimated amounts for real estate property taxes and homeowner's insurance. Once your customer has been approved, you can access their GFE online from your Pipeline & Loan Status page.   Back to FAQ index   What is a Truth-in-Lending statement?     Required by federal Law, the Truth-in-Lending statement provides detailed information about the total charges that will be incurred over the life of the loan. It includes the Annual Percentage Rate (APR), the amount of interest that will be paid, the amount financed and schedule of payments, the total of payments, and late payment charges.   Back to FAQ index   Is the fee to reserve my customer's funds refundable?     If your customer decides to cancel their application, this up front fee is NONREFUNDABLE. However, if your customer's loan is declined, this money will be used to cover costs incurred (as permitted by state and federal law) and the remaining balance will be refunded.   Back to FAQ index   What is a home equity line of credit?     Also known as HELOC, a HELOC is a secure line of credit using the available equity in the applicant's residence as collateral.   Back to FAQ index