Best Rate Referrals Website Broker Disclosure
BestRateReferrals.com and other sites owned and operated by Best Rate Holdings, LLC dba Best Rate Referrals (the "Site") are websites owned and operated by Best Rate Referrals, a Delaware State limited liability company. Best Rate Referrals provides administrative and marketplace services by matching consumers who are prospective borrowers with one or more banks and/or lenders (each a "Lender") that offer products and/or services of interest to consumers.
Best Rate Referrals is not a Lender and does not: originate, make or refinance loans; make credit decisions in connection with loans; issue loan commitments or lock-in agreements; or guarantee that submission of information on the Site will result in the origination or refinancing of a loan from a Lender. You are under no obligation to use the Site or Best Rate Referrals to begin any financing process. In order to be matched with Lender(s), Best Rate Referrals may require you to submit certain personal and financial information. Your responses, and the information you choose to submit in order to be matched with prospective Lender(s), will help improve the accuracy of the results that you obtain. You understand, acknowledge and agree that the information that you choose to provide to Best Rate Referrals will be collected, stored and transmitted only to Best Rate Referrals’™ partners, and solely for the purpose of matching you with Lenders that can provide you with more information about their respective products and/or services. Best Rate Referrals reserves the right to refuse to accept and/or use the information that you provide if such acceptance and/or use would constitute a violation of applicable law or the Best Rate Referrals Website Terms and Conditions.
The information that you submit to Best Rate Referrals is not a loan application, but instead is a request to receive conditional loan offers from Lenders. One or more Lenders may require you to complete a full application before they will extend an unconditional loan offer. Lenders may require you to pay an application or other fee and/or costs for an appraisal, credit report or other items. The Lenders will determine any such fee amount(s) and should provide you with information regarding your ability to seek a refund for any such fee(s). Make sure to compare rates and fees, as they can vary between Lenders and may depend on the state in which you reside.
Best Rate Referrals does not charge you any fee for its services, but instead receives its compensation from Lenders for the products and services that Best Rate Referrals provides. Best Rate Referrals’™ compensation varies by product and service type. Marketing fees paid by the Lender may be included in your loan rate, points and/or term.
The information that you submit via the Site may be forwarded to one or more Lenders, which should disclose certain information to you pursuant to the Truth in Lending Act, the Real Estate Settlement Procedures Act and other applicable federal and state laws, rules and regulations. Such Lender disclosures should include: a Loan Estimate providing important details about the costs and risks associated with your loan offer; certain booklets prepared by the Consumer Financial Protection Bureau; notice of your right to free copies of all appraisals and other written valuations performed on your home; notice of whether or not the servicing of your loan may be transferred to another Lender while the loan is outstanding; and, if applicable, a Closing Disclosure to ensure that your loan details are correct before your scheduled closing date.
The Federal Equal Credit Opportunity Act ("ECOA") prohibits creditors from discriminating against credit applicants on the basis of their race, color, religion, national origin, sex, marital status, age (provided that the applicant has the capacity to enter into a binding contract), because they receive income from a public assistance program or because they may have exercised their rights under the Consumer Credit Protection Act. The agency that administers compliance with this law varies by Lender depending on its lending authority, but may include the Federal Trade Commission, which enforces the ECOA. To file a complaint or get free information on consumer issues, visit www.ftc.gov or call toll-free at 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261.
While the foregoing requirements are mandatory for Lenders, Best Rate Referrals makes no representations as to the adequacy of any Lender’s compliance practices.
State/District Licenses and Disclosures
Certain states and districts may require Best Rate Referrals to obtain a license in order to provide its products and services within those states and districts. Some states and districts may require that additional information disclosures be provided to you in connection with Best Rate Referrals’™ provision of products and services. For some states and districts, required disclosures are included above. The following statements provide additional information that may be applicable to you if you reside, or are considering the purchase of property, in one of the listed states or districts.
Best Rate Referrals’™ Nationwide Mortgage Licensing System ("NMLS") Identification Number is 1521515.
More information about the NMLS is available at www.nmlsconsumeraccess.org.
Alabama Mortgage Brokers License No. 22322 (also doing business as Best Rate Referrals).
Alaska Mortgage Broker/Lender License No. AK1521515 (also doing business as Best Rate Referrals – License No. AK1521515-1). NOTE: A mortgage lender or mortgage broker may not refinance a mortgage loan within 12 months after the date the mortgage loan is closed, unless the refinancing is beneficial to the borrower.
Arizona Mortgage Broker License No. 0938443 (also doing business as Best Rate Referrals).
Arkansas Mortgage Broker License No. 109670 (also doing business as Best Rate Referrals).
NOTE: Except for state or federally chartered depository institutions that are FDIC- or NCUA-insured, it is unlawful for a person to broker or make a refinancing of a residential mortgage loan when the refinancing charges additional points and fees, within a 12-month period after the original loan agreement was signed, unless the refinancing results in a reasonable, tangible net benefit to the borrower, considering all of the circumstances surrounding the refinancing.
Solely with respect to the State of California, "Best Rate Referrals™" shall refer to Best Rate Referrals, Inc., a California State corporation. California Mortgage Real Estate Corporation License No. 02020989. California Mortgage Loan Originator License No. 1610332. You may call the California Bureau of Real Estate for licensing information at (877) 373-4542.
NOTE: Best Rate Referrals is not a Lender and does not charge you a fee for its products or services, but rather participating Lenders pay Best Rate Referrals a marketing fee to be put in contact with you and to compete for your business. As such, Best Rate Referrals will not obtain or retain compensation from you directly. Best Rate Referrals’ compensation may vary, but will never exceed $250 per lead.
Within three (3) days after submitting your completed, written loan application to one or more of our participating Lenders, you are entitled to receive from such Lenders a “good faith estimate” pursuant to the Truth in Lending Act and Real Estate Settlement Procedures Act, including any applicable balloon payments associated with your loan. Married applicants may each submit separate loan applications. If the Lender denies your request for credit and that action is based, in whole or in part, on any information contained in a consumer credit report, you have the right to obtain, within sixty (60) days, a free copy of your consumer credit report from the credit reporting agency that compiles and maintains files on consumers on a nationwide basis. You also have the right to dispute the accuracy or completeness of any information in a consumer credit report furnished by the consumer credit reporting agency by contacting that agency directly. No loan will be made with funds owned or controlled by Best Rate Referrals.
THE HOUSING FINANCIAL DISCRIMINATION ACT OF 1977 – 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 or conditions in the neighborhood or geographic area surrounding a housing accommodation, unless the financial institution can demonstrate in the particular case that such consideration is required to avoid an unsafe and unsound business practice; or
2. Race, color, religion, sex, marital status, domestic partnership, national origin or ancestry.
It is illegal to consider the racial, ethnic, religious or national origin composition of a neighborhood or geographic area surrounding a housing accommodation or whether or not such composition is undergoing change, or is expected to undergo change, in appraising a housing accommodation or in determining whether or not, or 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 and for the purpose of the home improvement of any one- to four-unit family residence.
If you have any questions about your rights, or if you wish to file a complaint, contact the management of the applicable financial institution or the Bureau of Real Estate at one of the following locations:
2550 Mariposa Mall, Suite 3070, Fresno, CA 93721-2273
320 W. 4th Street, Suite 350 Los Angeles, CA 90013-1105
1515 Clay Street, Suite 702 Oakland, CA 94612-1462
1651 Exposition Boulevard Sacramento, CA 95815 (mailing address: P.O. Box 137000, Sacramento, CA 95813-7000)
1350 Front Street, Suite 1063 San Diego, CA 92101-3608
Please print out this information and save it for your records. You understand, acknowledge and agree that you have read and received a copy of these notices and disclosures.
Registered Colorado Mortgage Company regulated by the Division of Real Estate (also doing business as Best Rate Referrals) – NMLS ID No. 1521515.
Delaware Broker License No. 022874 (also doing business as Best Rate Referrals).
Best Rate Holdings, LLC
28100 US Highway 19N, Suite 204
Clearwater, FL 33761
NOTE: Best Rate Referrals is not a Lender and does not charge you a fee for its products or services, but rather, participating Lenders pay Best Rate Referrals a marketing fee to be put in contact with you and to compete for your business. As such, Best Rate Referrals will not obtain or retain compensation from you directly. Best Rate Referrals’™ compensation may vary, but will never exceed $250 per lead. In no event shall the cost of these services exceed the amount disclosed in this agreement. You may be entitled to the refund of certain funds paid to Best Rate Referrals upon exercise of the right to rescind the transaction under the Federal Truth-In-Lending Act, as amended, and the regulations thereunder. This agreement remains in effect only as long as you seek to use the products and/or services offered by Best Rate Referrals.
Please print out this information and save it for your records. You understand, acknowledge and agree that you have read and received a copy of this agreement.
Florida Mortgage Broker License No. MBR2178 (also doing business as Best Rate Referrals).
NOTE: Best Rate Referrals is not a Lender and does not make mortgage loans or commitments. Nor can Best Rate Referrals guarantee acceptance into any particular loan program offered by any participating Lender, or promise any specific loan terms or conditions. If your loan request is forwarded to our participating Lenders, you may receive from such Lenders, a good faith estimate (GFE) of the credit report fee, property appraisal fee, or any other third party fees required in connection with your loan. The documentation you receive will include the terms and conditions for obtaining a refund for said fees.
YOU ARE NOT REQUIRED TO PURCHASE PRODUCTS OR SERVICES FROM BEST RATE REFERRALS OR FROM ANY PERSON OR ENTITY SUGGESTED OR RECOMMENDED BY BEST RATE REFERRALS.
Best Rate Holdings, LLC Georgia Mortgage Broker/Processor License No. 52996 (also Doing Business As Best Rate Referrals and Mortgage Advisor).
Licensed as a Mortgage Broker/Lender by the Department of Finance, License No. MBL-2081521515, NMLS ID 1521515
Illinois Residential Mortgage License No. 6761280
Illinois Department of Financial and Professional Regulation
100 West Randolph, 9th Floor
Chicago, IL 60601
Licensed as a Secretary of State Loan Broker; License No. 1521515
Iowa Mortgage Broker License No. 2017-0116.
Best Rate Holdings, LLC also doing business as Best Rate Referrals and Mortgage Advisor, NMLS ID No. 1521515, a Kansas licensed mortgage company, License No. MC. 0025513.
Licensed as a Mortgage Broker, License No. MB701284
Registered Louisiana Residential Mortgage Lender regulated by the Office of Financial Institutions – NMLS ID No. 1521515.
The State of Louisiana has not reviewed and does not approve or disapprove any loan brokerage contract. The information contained in this disclosure has not been verified by the State. If you have any questions, see an attorney before you sign a contract agreement.
Maine Loan Broker License No. 1521515 (also doing business as Best Rate Referrals).
NOTE: Best Rate Referrals will not act as your Lender or credit provider. Best Rate Referrals provides your loan request to Lenders, which may contact you with their conditional loan offers. Best Rate Referrals does not charge you a fee for its products or services, but rather participating Lenders pay Best Rate Referrals a marketing fee to be put in contact with you and to compete for your business. Best Rate Referrals does not provide your information to all Lenders and cannot guarantee the lowest price or best terms available in the market. This agreement remains in effect only as long as you seek to use the products and/or services offered by Best Rate Referrals.
Licensed as a Mortgage Lender by the Commissioner of Financial Regulation, License No. 22965.
Licensed as a 1st Mortgage Broker by the Department of Insurance & Financial Services, License No. FL0020708, NMLS ID 1521515.
Written Agreement or Contract
The agreement between you and Best Rate Referrals must be in writing, signed, and must contain the following details: a complete description of services to be performed; complete details of payment; any guarantees; the time frame encompassed by the contract; a description of any offers of full or partial refund; and a notice informing you of the importance of reading the contract and of retaining a copy for your records.
Escrowing of Consumer Funds
Funds paid by you in advance must be deposited in an escrow account until services are completed. The only exceptions are fees paid to third parties for the actual costs of the following items or services: credit reporting, appraisals, investigation reports, title examinations or property surveys.
Consumer Protection Bond
A $25,000 consumer protection bond is on file with the State of Maine. If you have a claim against Best Rate Referrals that cannot be resolved through informal means, you may institute an action to recover your loss from that bond by filing a written complaint with the Superintendent, Bureau of Consumer Credit Protection, 35 State House Station, Augusta, Maine 04333-0035.
NOTICE TO CONSUMER: Do not sign this agreement before you read it. You are entitled to a copy of this agreement. Please print out this information and save it for your records. You understand, acknowledge and agree that you have read and received a copy of this agreement and Disclosure to Consumer.
Minnesota Residential Mortgage Originator License No. MN-MO-1521515 (also doing business as Best Rate Referrals).
BEST RATE REFERRALS IS NOT ACTING AS YOUR AGENT IN CONNECTION WITH OBTAINING A RESIDENTIAL MORTGAGE LOAN. WHILE BEST RATE REFERRALS WILL SEEK TO ASSIST YOU IN MEETING YOUR FINANCIAL NEEDS, BEST RATE REFERRALS CANNOT GUARANTEE THE LOWEST OR BEST TERMS AVAILABLE IN THE MARKET.
You understand, acknowledge and agree that the information provided above shall not be construed as an offer to enter into an interest rate lock-in agreement under Minnesota law.
Mississippi Mortgage Broker License No. 1521515 (also doing business as Best Rate Referrals).
As required by Mississippi Law, Best Rate Referrals has secured a bond issued by Surety Solutions, LLC, a surety company authorized to do business in this state. A certified copy of this bond is filed with the Mississippi Commissioner of Banking and Consumer Finance.
As a borrower you are protected under the Mississippi S.A.F.E. Mortgage Act.
Complaints against a licensee may be made by contacting the:
Mississippi Department of Banking and Consumer Finance
P.O. Drawer 12129
Jackson, MS 39236-2129
Montana Mortgage Broker License No. 1521515 (also doing business as Best Rate Referrals).
Nebraska Mortgage Banker License regulated by the Department of Banking and Finance (also doing business as Best Rate Referrals) – NMLS ID No. 1521515.
Licensed by the New Hampshire banking department. New Hampshire Mortgage Banker License # 21306-MBR, NMLS ID 1521515.
Licensed by the N.J. Department of Banking and Insurance under the Residential Mortgage Lender License NMLS ID No. 1521515.
New Mexico Mortgage Loan Company License regulated by the Regulation and Licensing Department, Division of Financial Institutions (also doing business as Best Rate Referrals) – NMLS ID No. 1521515.
Website authorization by the New York State Department of Financial Services is pending. Until this website is authorized, no mortgage loan applications for properties located in New York will be accepted through this site.
Best Rate Holdings, LLC (also doing business as Best Rate Referrals) - NMLS ID No. 1521515 - North Dakota Money Broker License No. MB103196.
Oklahoma Mortgage Broker License No. MB011152 (also doing business as Best Rate Referrals).
Oregon Mortgage Lending License No. ML-5505 (also doing business as Best Rate Referrals).
Pennsylvania Mortgage Broker License No. 59276 (also doing business as Best Rate Referrals).
Rhode Island Licensed Loan Broker by the Department of Business Regulation, License No. 20183581LB.
South Dakota Mortgage Brokerage License No. MB.00046 (also doing business as Best Rate Referrals™ )
Texas Mortgage Company License regulated by the Department of Savings and Mortgage Lending (also doing business as Best Rate Referrals) – NMLS ID No. 1521515.
CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550.
THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.
West Virginia Mortgage Broker License No. MB-35109 (also doing business as Best Rate Referrals™).
Washington, D.C. Mortgage Broker License No. MLB1521515 (also doing business as Best Rate Referrals).
NOTE: If your loan request is forwarded to our participating Lenders, you may be issued a financing agreement by one or more Lenders pursuant to D.C. Code § 26-1113. If issued, the financing agreement will provide: (a) the term and principal amount of the loan; (b) an explanation of the type of mortgage loan being offered; (c) the rate of interest that will apply to the loan and, if the rate is subject to change, or is a variable rate, or is subject to final determination at a future date based on some objective standard, a specific statement of those facts; (d) the points and all fees, if any, to be paid by you; and (e) the term during which the financing agreement remains in effect. This financing agreement must be executed by the Lender and must be delivered at least 72 hours before settlement.
Wyoming Mortgage Broker License No. 2985
DISCLOSURE OF DUAL CAPACITY
BEST RATE REFERRALS HAS OFFERED TO ASSIST YOU IN OBTAINING A MORTGAGE LOAN. IF BEST RATE REFERRALS IS SUCCESSFUL IN OBTAINING A LOAN FOR YOU, BEST RATE REFERRALS WILL CHARGE AND COLLECT FROM YOU A FEE NOT TO EXCEED 0% OF THE LOAN AMOUNT. THIS FEE IS IN ADDITION TO ANY OTHER FEE BEST RATE REFERRALS MAY RECEIVE IN CONNECTION WITH THE SALE OR PURCHASE OF THE REAL ESTATE THAT WILL SECURE THE LOAN. BEST RATE REFERRALS DOES NOT REPRESENT ALL OF THE LENDERS IN THE MARKET AND THE LENDERS BEST RATE REFERRALS DOES REPRESENT MAY NOT OFFER THE LOWEST INTEREST RATES OR BEST TERMS AVAILABLE TO YOU. YOU ARE FREE TO SEEK A LOAN WITHOUT BEST RATE REFERRALS’™ ASSISTANCE, IN WHICH EVENT YOU WILL NOT BE REQUIRED TO PAY BEST RATE REFERRALS A FEE FOR THAT SERVICE. THE BORROWER ACKNOWLEDGES HAVING READ AND UNDERSTOOD THIS DISCLOSURE OF DUAL CAPACITY AND HAVING RECEIVED A COPY HEREOF.
Notwithstanding the foregoing, you understand, acknowledge and agree that Best Rate Referrals is not a Lender and does not charge you a fee for its products or services, but rather participating Lenders pay Best Rate Referrals a marketing fee to be put in contact with you and to compete for your business.