land loan application packet · land loan application packet for mvfcu in-house or portfolio loan...

REAL ESTATE & COMMERCIAL LENDING 907-745-9165 Fax: (907) 745-9168 www.mvfcu.coop

LAND LOAN APPLICATION PACKET for MVFCU In-house or portfolio loan program

Thank you for inquiring about our in-house, or portfolio real estate loan program. MVFCU has several options to finance or refinance your real property or your land. Our in-house real estate loans are made in accordance with MVFCU loan policy and are serviced right here by the good folks at MVFCU. Equity or down payment requirements will vary with the type of loan and term requested. Interest rates are set by MVFCU and are based on the strength of your credit and the nature of your loan request.

The following forms are enclosed. Please read, complete each form & return to MVFCU:

❖ MVFCU Financial Statement ❖ Authorization to obtain credit information ❖ MVFCU Notices & Disclosures

In order to expedite the processing of your loan request, please provide the following items at the time of application:

❖ Copy of most recent pay stubs covering 30 day period

❖ All W-2’s and 1099’s for the past 2 years ❖ If self-employed, provide your two most current income tax returns (we require the entire return) ❖ If you have a partnership or corporation, provide your 2 most recent business tax returns ❖ Evidence of income from Social Security, Retirement, Pension or other sources ❖ Evidence of child support obligation or income ❖ Written explanation for bankruptcy and copy of Bankruptcy Discharge. If your bankruptcy occurred within the past

5 years you will also need to provide a copy of Schedule F from the Bankruptcy filing

❖ Written explanation for any property foreclosure or deed in lieu of foreclosure

You may be asked to provide additional information after we review your application. Please feel free to call us with any questions. We look forward to assisting with your real estate financing needs!

From the Mat-Su Valley: 745-9165 From Eagle River or Anchorage: 694-4891, ext. 165

Building Better Financial Futures!

This credit union is financially insured by the National Credit Union Administration.

NMLS #418470

Revised 04/2017

Uniform Residential Loan Application Freddie Mac Form 65 7/05 (rev.6/09) Page 1 of 5 Fannie Mae Form 1003 7/05 (rev.6/09)

Uniform Residential Loan Application ___________________________________________________________________________________________________________________________________________________________________ This application is designed to be completed by the applicant(s) with the Lender’s assistance. Applicants should complete this form as “Borrower” or “Co-Borrower,” as applicable. Co-Borrower information must also be provided (and the appropriate box checked) when the income or assets of a person other than the Borrower (including the Borrower’s spouse) will be used as a basis for loan qualification or the income or assets of the Borrower’s spouse or other person who has community property rights pursuant to state law will not be used as a basis for loan qualification, but his or her liabilities must be considered because the spouse or other person has community property rights pursuant to applicable law and Borrower resides in a community property state, the security property is located in a community property state, or the Borrower is relying on other property located in a community property state as a basis for repayment of the loan.

If this is an application for joint credit, Borrower and Co-Borrower each agree that we intend to apply for joint credit (sign below):

_________________________________________ _________________________________________ Borrower Co-Borrower

I. TYPE OF MORTGAGE AND TERMS OF LOANMortgage Applied for:

VA Conventional Other (explain): FHA USDA/Rural

Housing Service

Agency Case Number Lender Case Number

Amount $

Interest Rate %

No. of Months Amortization Type: Fixed Rate GPM

Other (explain): ARM (type):

II. PROPERTY INFORMATION AND PURPOSE OF LOANNo. of Units Subject Property Address (street, city, state & ZIP)

Legal Description of Subject Property (attach description if necessary) Year Built

Purpose of Loan Purchase Construction Other (explain): Refinance Construction-Permanent

Property will be: Primary Residence Secondary Residence Investment

Complete this line if construction or construction-permanent loan. Year Lot Acquired

Original Cost

$

Amount Existing Liens

$

(a) Present Value of Lot

$

(b) Cost of Improvements

$

Total (a + b)

$

Complete this line if this is a refinance loan. Year Acquired

Original Cost

$

Amount Existing Liens

$

Purpose of Refinance Describe Improvements

Cost: $

made to be made

Estate will be held in: Fee Simple

Title will be held in what Name(s) Manner in which Title will be held

Source of Down Payment, Settlement Charges, and/or Subordinate Financing (explain) Leasehold (show

expiration date)

Borrower III. BORROWER INFORMATION Co-Borrower Borrower’s Name (include Jr. or Sr. if applicable) Co-Borrower’s Name (include Jr. or Sr. if applicable)

Social Security Number Home Phone (incl. area code)

DOB (mm/dd/yyyy) Yrs. School Social Security Number Home Phone (incl. area code)

DOB (mm/dd/yyyy) Yrs. School

Dependents (not listed by Co-Borrower) Dependents (not listed by Borrower) Married Unmarried (include Separated single, divorced, widowed)

no. ages

Married Unmarried (include Separated single, divorced, widowed)

no. ages

Present Address (street, city, state, ZIP) Own Rent ____No. Yrs. Present Address (street, city, state, ZIP) Own Rent ____No. Yrs.

Mailing Address, if different from Present Address Mailing Address, if different from Present Address

If residing at present address for less than two years, complete the following:

Former Address (street, city, state, ZIP) Own Rent ____No. Yrs. Former Address (street, city, state, ZIP) Own Rent ____No. Yrs.

Borrower IV. EMPLOYMENT INFORMATION Co-Borrower Yrs. on this job Yrs. on this job Name & Address of Employer Self Employed

Yrs. employed in this line of work/profession

Name & Address of Employer Self Employed

Yrs. employed in this line of work/profession

Position/Title/Type of Business Business Phone (incl. area code) Position/Title/Type of Business Business Phone (incl. area code)

If employed in current position for less than two years or if currently employed in more than one position, complete the following:

Dates (from – to) Dates (from – to) Name & Address of Employer Self Employed

Monthly Income

$


Monthly Income

$

Position/Title/Type of Business Business Phone

(incl. area code)


(incl. area code)

Dates (from – to) Dates (from – to) Name & Address of Employer Self Employed

Monthly Income

$


Monthly Income

$


(incl. area code)


(incl. area code)

Base Empl. Income* $ $ $ Rent $

Overtime First Mortgage (P&I) $

Bonuses Other Financing (P&I)

Commissions Hazard Insurance

Dividends/Interest Real Estate Taxes

Net Rental Income Mortgage Insurance

Homeowner Assn. Dues Other (before completing, see the notice in “describe other income,” below) Other:

$ $ $ $ $

Notice:

B/C Monthly Amount

$

This Statement and any applicable supporting schedules may be completed jointly by both married and unmarried Co-Borrowers if their assets and liabilities are sufficiently joined so that the Statement can be meaningfully and fairly presented on a combined basis; otherwise, separate Statements and Schedules are required. If the Co-Borrower section was completed about a non-applicant spouse or other person, this Statement and supporting schedules must be completed about that spouse or other person also.

Completed Jointly Not Jointly

Description Cash deposit toward purchase held by:

$

List the creditor’s name, address, and account number for all outstanding debts, including automobile loans, revolving charge accounts, real estate loans, alimony, child support, stock pledges, etc. Use continuation sheet, if necessary. Indicate by (*) those liabilities, which will be satisfied upon sale of real estate owned or upon refinancing of the subject property.

List checking and savings accounts below

Name and address of Bank, S&L, or Credit Union Name and address of Company $ Payment/Months $

Acct. no. $ Acct. no.







Stocks & Bonds (Company name/ number & description)

$ Name and address of Company $ Payment/Months $

Acct. no.

$ Name and address of Company $ Payment/Months $Life insurance net cash value

Face amount: $

$

Real estate owned (enter market value from schedule of real estate owned)

$

Vested interest in retirement fund $

Net worth of business(es) owned

(attach financial statement)

$

Acct. no.

$Alimony/Child Support/Separate Maintenance Payments Owed to:

$Automobiles owned (make and year)

$ Job-Related Expense (child care, union dues, etc.) $Other Assets (itemize)

$ $$ Net Worth

(a minus b)

(If additional properties are owned, use continuation sheet.)

Property Address (enter S if sold, PS if pending sale or R if rental being held for income) Type of

Property Present

Market Value

Amount

of Mortgages

& Liens

Gross

Rental Income

Mortgage Payments

Insurance, Maintenance,

Taxes & Misc.

Net Rental Income

$ $ $ $ $ $

Totals $ $ $ $ $ $

Alternate Name Creditor Name Account Number

a. Purchase price $

b. Alterations, improvements, repairsa. Are there any outstanding judgments against you?

c. Land (if acquired separately) b. Have you been declared bankrupt within the past 7 years?

d. Refinance (incl. debts to be paid off) c. Have you had property foreclosed upon or given titleor deed in lieu thereof in the last 7 years?

e. Estimated prepaid items d. Are you a party to a lawsuit?

f. Estimated closing costs

g. PMI, MIP, Funding Fee

h. Discount (if Borrower will pay)

i. Total costs (add items a through h)

e. Have you directly or indirectly been obligated on any loan which resulted in foreclosure, transfer of titlein lieu of foreclosure, or judgment?

(This would include such loans as home mortgage loans, SBA loans, home improvement loans, educational loans, manufactured (mobile) home loans, any mortgage, financial obligation, bond, or loan guarantee. If “Yes,” provide details, including date, name, and address of Lender, FHA or VA case number, if any, and reasons for the action.)

VII. DETAILS OF TRANSACTION VIII. DECL4R4TIONS

If you answer "Yes" to any question a through i, please use Borrower Co-Borrower

j. Subordinate financing continuation sheet for explanation. Yes No Yes No

f. Are you presently delinquent or in default on any Federal debt or any other loan, mortgage, financial obligation, bond,

k. Borrower's closing costs paid by or loan guarantee?Seller g. Are you obligated to pay alimony, child support, or

separate maintenance? h. Is any part of the down payment borrowed?

I. Other Credits ( explain) i. Are you a co-maker or endorser on a note?

m. Loan amount ( exclude PMI, MIP, Funding Fee financed)

j. Are you a U.S. citiz.en?

n. PMI, MIP, Funding Fee financed k. Are you a permanent resident alien?

0. Loan amount I. Do you intend to occupy the property as your primary

(add m&n) residence?

If Yes," complete question m below. p. Cash from/to Borrower

(subtract j, k, 1 & o from i)m. Have you had an ownership interest in a property in the last

three years? (1) What type of property did you own-----principal resideoce (PR), second home (SH), or investmeot property (IP)? (2) How did you hold title to the home- hy yourself (S), jointly with your spouse (SP), or jointly with another person (O)?

IX. ACKNOWLEDGEMENT AND AGREEMENT

Each of the undersigned specifically represents to Leoder and to Lender's actual or potential agents, brokers, processors, attorneys, insurers, servicers, successors and assigns and agrees and acknowledges that: (1) the information provided in this application is true and correct as of the date set forth opposite my signature and that any intentional or negligent misrepresentation of this information contained in this application may result in civil liability, including monetary damages, to any person who may suffer any loss due to reliance upon any misrepresentation that I have made on this application, and/or incriminal peoalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Sec. 1001, et seq.; (2) the loan requested pursuant to this application (the "Loan") will be secured hy a mortgage or deed of trust on the property described in this application; (3) the property will not be used for any illegal or prohibited purpose or use; ( 4) all statements made in this application are made for the purpose of obtaining a residential mortgage loan; (5) the property will be occupied as indicated in this application; (6) the Lender, its servicers, successors or assigns mayretain the original and/or an electronic record of this application, whether or not the Loan is approved; (7) the Lender and its agents, brokers, insurers, servicers, successors, and assigns may continuously rely on the information contained in the application, and I am obligated to ameod and/or supplement the information provided in this application if any of the material facts that I have represented herein should change prior to closing of the Loan; (8 ) in the event that my payments on the Loan become delinqueot, the Lender, its servicers, successors or assigns may, in addition to any other rights and remedies that it may have relating to such delinquency, report my name and account information to one or more consumer reporting agencies; (9) ownership of the Loan and/or administration of the Loan account may be tra nsferred with such notice as m ay be require d hy law; (10) neither Lender nor i ts ageots, brokers, insurers, servicers, successors or assigns has made any represeotation or warranty, express or implied, to me regarding the property or the condition or value of the property; and (11) my transmission of this application as an "electronic record" containing my" electronic signature," as those terms are defmed in applicable federal and/or state laws (excluding audio and video recordings), or my facsimile transmission of this application containing a facsimile of my s ignature, shall be aseffective, enforceable and valid as if a paper version of this application were delivered containiog my original written signature.

Acknowledgement. Each of the undersigned hereby acknowledges that any owner of the Loan, its servicers, successors and assigns, may verify or reverify any information contained in this application or_ obtain any information or data relating to the Loan, for any legitimate business purpose through any source, including a source named in this application or a consumer reporting agency.

Borrower's Signature X

Loan Originator's Signature

X

Loan Originator's Name (print or type)

Loan Origination Company's Name

Uniform Residential Loan Application

Freddie Mac Form 65 7/05 (rev.6/09)

I Date

I �-Borrower's Signature

I Date

Date

Loan Originator Identifier Loan Originator's Phone Number (including area code)

Loan Origination Company Identifier Loan Origination Company's Address

Page 4 ofS Fannie Mae Form 1003 7/05 (rev.6/09)

Uniform Residential Loan Application Freddie Mac Form 65 7/05 (rev.6/09) Page 5 of 5 Fannie Mae Form 1003 7/05 (rev.6/09)

CONTINUATION SHEET/RESIDENTIAL LOAN APPLICATION

Borrower: Agency Case Number: Use this continuation sheet if you need more space to complete the Residential Loan Application. Mark B f or Borrower or C for Co-Borrower.

Co-Borrower: Lender Case Number:

______________________________________________________________________________________________________________________________________________ I/We fully understand that it is a Federal crime punishable by fine or imprisonment, or both, to knowingly make any false statements concerning any of the above facts as applicable under the provisions of Title 18, United States Code, Section 1001, et seq.

Borrower’s Signature X

Date Co-Borrower’s SignatureX

Date

Demographic Information Addendum. This section asks about your ethnicity, sex, and race.

Demographic Information of Borrower

The purpose of collecting this information is to help ensure that all applicants are treated fairly and that the housing needs of communities and neighborhoods are being fulfilled. For residential mortgage lending, Federal law requires that we ask applicants for their demographic information (ethnicity, sex, and race) in order to monitor our compliance with equal credit opportunity, fair housing, and home mortgage disclosure laws. You are not required to provide this information, but are encouraged to do so. You may select one or more designations for "Ethnicity" and one or more designations for "Race." The law provides that we may not discriminate on the basis of this information, or on whether you choose to provide it. However, if you choose not to provide the information and you have made this application in person, Federal regulations require us to note your ethnicity, sex, and race on the basis of visual observation or surname. The law also provides that we may not discriminate on the basis of age or marital status information you provide in this application. If you do not wish to provide some or all of this information, please check below.

Ethnicity: Check one or more

D Hispanic or Latino D Mexican D Puerto Rican D Cuban D Other Hispanic or Latino -Print origin:

For example: Argentinean, Colombian, Dominican, Nicaraguan, Salvadoran, Spaniard, and so on.

D Not Hispanic or Latino D I do not wish to provide this information

Sex

D Female D Male D I do not wish to provide this information

Race: Check one or more

D American Indian or Alaska Native - Print name of enrolled

or principal tribe: _________________ _

D Asian D Asian Indian D Chinese D Japanese D Korean D Other Asian - Print race:

D Filipino D Vietnamese

--------------

For example: Hmong, Laotian, Thai, Pakistani, Cambodian, and so on.

D Black or African American D Native Hawaiian or Other Pacific Islander

D Native Hawaiian D Guamanian or Chamorro D Samoan D Other Pacific Islander - Print race:

For example: Fijian, Tongan, and so on.

D White

D I do not wish to provide this information

To Be Completed by Financial Institution (for application taken in person):

Was the ethnicity of the Borrower collected on the basis of visual observation or surname? Was the sex of the Borrower collected on the basis of visual observation or surname? Was the race of the Borrower collected on the basis of visual observation or surname?

The Demographic Information was provided through:

ONO OYES ONO OYES ONO OYES

0 Face-to-Face Interview (includes Electronic Media w/Video Component) OTelephone Interview O Fax or Mail O Email or Internet

Borrower Name:. __________________ _ Uniform Residential Loan Application Freddie Mac Form 65 • Fannie Mae Form 1003 Revised 09/2017

Demographic Information Addendum. This section asks about your ethnicity, sex, and race.

Demographic Information of Borrower

The purpose of collecting this information is to help ensure that all applicants are treated fairly and that the housing needs of communities and neighborhoods are being fulfilled. For residential mortgage lending, Federal law requires that we ask applicants for their demographic information (ethnicity, sex, and race) in order to monitor our compliance with equal credit opportunity, fair housing, and home mortgage disclosure laws. You are not required to provide this information, but are encouraged to do so. You may select one or more designations for "Ethnicity" and one or more designations for "Race." The law provides that we may not discriminate on the basis of this information, or on whether you choose to provide it. However, if you choose not to provide the information and you have made this application in person, Federal regulations require us to note your ethnicity, sex, and race on the basis of visual observation or surname. The law also provides that we may not discriminate on the basis of age or marital status information you provide in this application. If you do not wish to provide some or all of this information, please check below.

Ethnicity: Check one or more

D Hispanic or Latino D Mexican D Puerto Rican D Cuban D Other Hispanic or Latino -Print origin:

For example: Argentinean, Colombian, Dominican, Nicaraguan, Salvadoran, Spaniard, and so on.

D Not Hispanic or Latino D I do not wish to provide this information

Sex

D Female D Male D I do not wish to provide this information

Race: Check one or more

D American Indian or Alaska Native - Print name of enrolled

or principal tribe: _________________ _

D Asian D Asian Indian D Chinese D Japanese D Korean D Other Asian - Print race:

D Filipino D Vietnamese

--------------

For example: Hmong, Laotian, Thai, Pakistani, Cambodian, and so on.

D Black or African American D Native Hawaiian or Other Pacific Islander

D Native Hawaiian D Guamanian or Chamorro D Samoan D Other Pacific Islander - Print race:

For example: Fijian, Tongan, and so on.

D White

D I do not wish to provide this information

To Be Completed by Financial Institution (for application taken in person):

Was the ethnicity of the Borrower collected on the basis of visual observation or surname? Was the sex of the Borrower collected on the basis of visual observation or surname? Was the race of the Borrower collected on the basis of visual observation or surname?

The Demographic Information was provided through:

ONO OYES ONO OYES ONO OYES

0 Face-to-Face Interview (includes Electronic Media w/Video Component) OTelephone Interview O Fax or Mail O Email or Internet

Co-Borrower Name:. __________________ _ Uniform Residential Loan Application Freddie Mac Form 65 • Fannie Mae Form 1003 Revised 09/2017

Building Better Financial Futures! Palmer • Wasilla • Willow • Eagle River • Big Lake • Seward Meridian • Sunshine • Hawaii

Insured by NCUA. NMLS #418470

WASILLA501 N. Main St., Ste. 120

Wasilla, AK 99654Ph: (907) 745-9165

Fax: (907) 745-9168

PALMER1020 S. Bailey St.

Palmer, AK 99645 Ph: (907) 745-9165

Fax: (907) 745-9115

EAGLE RIVER1180 Business Blvd.

Eagle River, AK 99577 Ph: (907) 694-4633

Fax: (907) 694-7701

HAWAII94-144 Farrington Hwy., Ste. 114

Waipahu, HI 96797 Ph: (808) 208-0320 Fax: (808) 677-6208

REAL ESTATE AND COMMERCIAL LENDING

www.mvfcu.coop

Name: Date of Birth:

Date of Birth

Mailing Address:

Physical Address:

Name:

AUTHORIZATION TO OBTAIN CREDIT and/or PAYOFF INFORMATION

I hereby grant permission to MATANUSKA VALLEY FEDERAL CREDIT UNION (MVFCU) to obtain any and all information deemed necessary to process my real estate or mortgage loan application. This information includes, but is not limited to, my present and past employment status, my deposit accounts, my present and past consumer credit record, my mortgage and/or rent payment records, and payoff information on any of my existing loans.

I also authorize my creditors and employers to release to any credit bureau and/or to any employee or representative of the MATANUSKA VALLEY FEDERAL CREDIT UNION telephonically, as well as in writing, any information they may require, including data on my current and previous credit history, employment and income, and payoff information. My authorization to release payoff information (including but not limited to the principal balance, interest owed, per diem, and additional charges due upon payoff) extends to any title company. I/we authorize a fax fee and/or other charges as necessary to produce a requested payoff statement.

I also grant permission to accept a photographic copy of this form containing my signature to obtain or provide any information regarding the items mentioned above.

__________________________________________________________________________________________________ Borrower’s Signature Social Security Number Date

__________________________________________________________________________________________________ Co-Borrower’s Signature Social Security Number Date

EQUAL CREDIT OPPORTUNITY ACT: The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (with certain limited exceptions); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning MVFCU is the:

NATIONAL CREDIT UNION ADMINISTRATION (NCUA) Office of Examination and Insurance

Alexandria, VA. 22314-3428

MVFCU NOTICES AND DISCLOSURES for MVFCU In-House Real Estate Loans

Thank you for applying for a Real Estate loan with Matanuska Valley Federal Credit Union (MVFCU). The following Notices and Disclosures are provided to help you better understand the law and the practices we follow.

NOTICE REQUIRED UNDER EQUAL CREDIT OPPORTUNITY ACT The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (with certain limited exceptions); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning MVFCU is: National Credit Union Administration (NCUA) Office of Examination and Insurance Alexandria, VA. 22314-3428.

FAIR LENDING NOTICE It is illegal to discriminate in the provision of or in the availability of financial assistance because of the consideration of: (1) Trends, characteristics of conditions in the neighborhood or geographical area surrounding a housing accommodation, unless the financial institution can demonstrate in the particular case that such a consideration is required to avoid an unsafe and unsound business practice; or (2) Race, color, religion, sex, marital status, national origin or ancestry. It is illegal to consider the racial, ethnic, religions or national origin composition of a neighborhood or geographical area surrounding a housing accommodation or whether or not, under what terms and conditions to provide financial assistance. These provisions govern financial assistance for the purpose of the purchase, construction, rehabilitation or refinancing of one to four unit family residences occupied by the owner/borrower. If you have any questions about your rights or you wish to file a complaint, contact the General Manager of MVFCU or: National Credit Union Administration (NCUA) Office of Examination and Insurance Alexandria, VA. 22314-3428.

NOTICE REGARDING THE FAIR AND ACCURATE CREDIT TRANSACTIONS ACT OF 2003 (FACT ACT)

In accordance with the Fair and Accurate Credit Transactions Act of 2003 (FACT Act) we are advising you that we may report information about your loan account to consumer reporting agencies or credit bureaus. Late payments, missed payments, or other defaults on your account may be reflected in your credit report.

Initials:

Page 1 of 3


Wasilla, AK 99654Ph: (907) 745-9165

Fax: (907) 745-9168


Eagle River, AK 99577 Ph: (907) 694-4633

Fax: (907) 694-7701

Waipahu, HI 96797 Ph: (808) 208-0320 Fax: (808) 677-6208



Palmer, AK 99645 Ph: (907) 745-9165

Fax: (907) 745-9115www.mvfcu.coop




CREDIT SCORE NOTICE In connection with your application for a home loan or real estate loan and in compliance with the Fair and Accurate Credit Transactions Act of 2003 (FACT Act), Matanuska Valley Federal Credit Union (MVFCU) must disclose to you the credit score that a consumer credit agency has distributed to MVFCU and that MVFCU used in connection with your loan application, as well as the key factors affecting your credit score(s). The Disclosure of Credit Score Information will be provided to you once we obtain your credit report.

One or more of the following consumer reporting agencies will provide the credit score: Experian (XPN) Trans Union (TUC) Equifax (EFX) PO Box 2002 PO Box 1000 PO Box 740241 Allen, Tx. 75013 Chester, PA. 19022 Atlanta, GA. 30374 1-(888) 397-3742 1-(800) 916-8800 1-(800) 685-1111

EMPLOYMENT AND FINANCIAL STATUS CERTIFICATION A loan approval is based upon employment, income, obligations and collateral as shown on the loan application and supporting documentation. You are required to advise us immediately should anything regarding your income, credit, debts and obligations, and condition of your property or property title change prior to the closing and recording of your loan. If you close your loan without reporting such changes your loan could be considered in default.

NOTICE REGARDING FEES & CHARGES INCURRED DURING PROCESSING OF YOUR LOAN APPLICATION

Any fees paid at application or during the processing of your loan will be non-refundable unless the fee was for a specific report or service that had not yet been ordered or performed. During the processing of your loan application MVFCU will order a preliminary title search report. The fee charged by all title insurance companies for this title search is $250. We may also order a flood hazard determination that involves a charge of $15. If you fail to close your loan request with us in a timely manner after the title report and/or flood hazard determination have been obtained you will be required to pay the incurred charges.

BORROWERS CHOICE OF HAZARD INSURANCE PROVIDER You have the right to choose the carrier of the required hazard insurance, subject to approval by MVFCU. MVFCU has the right to designate reasonable financial requirements and adequacy of coverage. All required insurance must be in effect at closing. Your closing may be delayed if you have not advised MVFCU of your selected insurance agent at least 3 days prior to closing.

HAZARD INSURANCE: Hazard insurance coverage is required for at least the amount of the total mortgage indebtedness including other mortgage loans against your home. The maximum allowable deductible is $1,000.

Initials:

Page 2 of 3


Wasilla, AK 99654Ph: (907) 745-9165

Fax: (907) 745-9168


Eagle River, AK 99577 Ph: (907) 694-4633

Fax: (907) 694-7701

Waipahu, HI 96797 Ph: (808) 208-0320 Fax: (808) 677-6208



Palmer, AK 99645 Ph: (907) 745-9165





EARTHQUAKE INSURANCE: Earthquake insurance is not required by MVFCU. Damage related to earthquake is not included in Hazard Insurance coverage. You should consult with your insurance agent on questions related to this or other hazard insurance coverage.

FLOOD INSURANCE: If it is determined that the property securing your loan is located in a special flood hazard boundary area you will be advised and flood insurance coverage equal to at least the amount of the loan will be required. In accordance with the requirements of the National Flood Insurance Program, any required Flood Insurance coverage must be paid in advance for 1 year and must be in effect before your loan can close.

PROPERTY TAXES AND HAZARD INSURANCE PREMIUMS WILL NOT BE INCLUDED IN YOUR PAYMENT

Property taxes and Hazard Insurance will not be collected nor managed by MVFCU as part of your loan payment. You are responsible to pay these costs in a timely manner when they come due. If MVFCU determines that property hazard insurance or flood insurance has lapsed we can and will force-place an insurance policy that provides coverage solely for property damage. You will be charged for all insurance coverage that MVFCU is forced to place. If property taxes or other government assessments are not paid they can create a lien against your property. In order to maintain and protect our lien position MVFCU can pay these charges and will then add those amounts to the total balance owing on your loan.

ACKNOWLEDGEMENT and AGREEMENT The interest rate and fees or charges reflected in the loan application and Good Faith Estimate are those that are in effect for the requested loan program on the day of application or disclosure. MVFCU makes no promise at this point that your loan application will be approved or closed.

By signing below, I agree that MVFCU is not responsible for any issues that may result as a denial of my loan request. I understand that failure to provide requested information or documentation in a timely manner may result in a denial of my loan application.

________________________________________/__________________ Applicant’s signature Date



Initials:

Page 3 of 3


Wasilla, AK 99654Ph: (907) 745-9165

Fax: (907) 745-9168


Eagle River, AK 99577 Ph: (907) 694-4633

Fax: (907) 694-7701

Waipahu, HI 96797 Ph: (808) 208-0320 Fax: (808) 677-6208



Palmer, AK 99645 Ph: (907) 745-9165





REAL ESTATE & COMMERCIAL LENDING

501 N Main St., Ste 120 Wasilla, Alaska 99654

907) 745-9165 Fax: (907) 745-9168

www.mvfcu.coop

ELECTRONIC COMMUNICATIONS AGREEMENT

We may send you information and documents by email related to your loan or in reference to other inquiries if you so choose to receive them in said way. If required by law, and unless you have provided us with consent to receive electronic communications as required by the Electronic Signatures in Global and National Commerce Act (ESIGN Act), such information may also be provided in hard copy. Note that this document does not provide actual e-sign consent. If you would like to receive email from us, please provide your preferred email address below. We will never request personal or sensitive information via email from you. I would like to receive emails from Matanuska Valley Federal Credit Union at the following email address: __________________________________________________________________ (e-mail address) I understand that I am not required to consent to the electronic delivery of information or documents and separate ESIGN Act consumer consent to electronic delivery may be required for certain types of communications. BORROWER: X_____________________________________________________ ___________

Date

Building Better Financial Futures Palmer • Wasilla • Willow • Eagle River • Big Lake • Seward Meridian

Sunshine • Meadow Lakes • Palmer Carrs • Knik Goose Bay This credit union is federally insured by the National Credit Union Administration.

NMLS #418470

Member #______________

Property Appraisal Acknowledgement and Receipt Approval of loans using real estate as collateral requires that current value of the real estate be established. MVFCU is requiring an appraisal report be obtained from an appraiser approved by MVFCU in order to establish a basis of value for the property being submitted for collateral. An MVFCU Mortgage Services employee will order the property appraisal report. MVFCU is not implying or guaranteeing that your loan will be approved, even after the findings of the appraisal report have been reviewed. It is possible that additional information may be required after review of the appraisal report. Once the appraisal report has been ordered by MVFCU the cost of the report is non-refundable whether credit is extended or denied or if the applications is incomplete or withdrawn. Funds collected in excess of the appraiser’s billing will be returned to you. You will be provided with a copy of the appraisal report, at no cost to you, upon completion or three business days prior to loan closing unless you waive the timing requirement and agree to receive a copy the day of closing. This waiver must be obtained at least three business days prior to closing. I hereby acknowledge that I have read and understand the above and authorize Matanuska Valley Federal Credit Union to order an appraisal report for my loan request. ______________________________________________ __________________________ Member Signature Date Receipt of $_________________is acknowledged as a deposit for the property appraisal report. ______________________________________________ ____________________________ MVFCU Employee Signature Date

Title Search Acknowledgement and Receipt The three major components that MVFCU must consider in making a real estate loan are creditworthiness, adequacy of property for collateral, and the status of title to the property. A preliminary title search of the property is ordered after your loan application has been processed and approved for creditworthiness and suitability of property. In order to conduct the title search MVFCU requires your permission and a deposit of $250.00. If, for any reason, the loan does not close or if other real estate is substituted, this fee is non-refundable and will be paid to the title insurance company to cover their Title Cancellation Fee which is charged in accordance with state statue. If the loan closes, the $250 title search deposit will be applied toward the title Search and title insurance expenses. I acknowledge that I have read and understand the above and authorize Matanuska Valley Federal Credit Union to order a preliminary title search for my loan request. ____________________________________________ ______________________________ Member Signature Date Receipt of $250.00 is acknowledged for the title search deposit. ____________________________________________ _______________________________ MVFCU Employee Signature Date MtgWordShare/Forms/Appraisal & Title Search Acknowledgement & Receipt

Individual(s) Taxpayer Consent to the Use of Tax Return Information

C:\Users\Mobile Marketing\Downloads\Individual Taxpayer Consent Form 2020 Draft.doc 1

Lender: Matanuska Valley Federal Credit Union

I understand and agree that Lender may obtain, use and share my state and/or federal tax return

information for purposes of: 1) reviewing and responding to my loan application; 2) originating

the loan; 3) servicing the loan; 4) selling or transferring all or a part of the loan or any interest in

it; and (5) internal marketing analysis, marketing to me, and other marketing as permitted by law.

I understand to accomplish these purposes Lender may need to share this information with Third

Parties, including loan servicers, actual or potential purchasers or investors in loans, government

agency loan guarantors, mortgage insurers, marketing companies, etc., depending on the type of

loan I have applied for, and I agree to such information sharing for these purposes. For the

purpose of this consent to sharing tax return information, Lender and Third Parties includes the

affiliates, agents, and any successors or assigns of Lender and Third Parties.

I declare that I am either a taxpayer whose name is shown on the return(s), or a person

authorized to obtain and release said tax information. If the request applies to a joint return, at

least one spouse’s signature is required.

Primary Taxpayer Date

Joint Taxpayer Date

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