California Mortgage Loan Disclosure Form

This disclosure must be presented to every applicant for a home loan in California.

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BORROWER’S NAME(S)
REAL PROPERTY COLLATERAL: THE INTENDED SECURITY FOR THIS PROPOSED LOAN WILL BE A DEED OF TRUST OR MORTGAGE ON (STREET ADDRESS OR LEGAL DESCRIPTION)
THIS MORTGAGE LOAN DISCLOSURE STATEMENT IS BEING PROVIDED BY THE FOLLOWING CALIFORNIA REAL ESTATE BROKER ACTING AS A MORTGAGE BROKER
INTENDED LENDER TO WHOM YOUR LOAN APPLICATION WILL BE DELIVERED (IF KNOWN) ¨ Unknown
 For any federally related mortgage Ooans, HUD/RESPA laws require that a Good Faith Estimate (GFE) be provided. A RE 882
Mortgage Loan Disclosure Statement (MLDS) is required by California law and must also be provided.
 The information provided below reflects estimates of the charges you are likely to incur at the settlement of your loan. The fees,
commissions, costs and expenses listed are estimates; the actual charges may be more or less. Your transaction may not involve
a charge for every item listed and any additional items charged will be listed.
Item Paid to Others Paid to Broker
Items Payable in Connection with Loan
Mortgage Broker Commission/Fee $ $
Lender’s Loan Origination Fee $ $
Lender’s Loan Discount Fee $ $
Appraisal Fee $ $
Credit Report $ $
Lender’s Inspection Fee $ $
Tax Service Fee $ $
Processing Fee $ $
Underwriting Fee $ $
Wire Transfer Fee $ $
Items Required by Lender to be Paid in Advance
Interest for ___________ days at $_________________ per day $ $
Hazard Insurance Premiums $ $
County Property Taxes $ $
Mortgage Insurance Premiums $ $
VA Funding Fee/FHA MIP/PMI $ $
Other:_______________________ $ $
Reserves Deposited with Lender
Hazard Insurance: _____ months at $________________/mo. $ $
Co. Property Taxes: _____ months at $________________/mo. $ $
Mortgage Insurance: _____ months at $________________/mo. $ $
Other:_______________________ $ $
Title Charges
Settlement or Closing/Escrow Fee $ $
Document Preparation Fee $ $
Notary Fee $ $
Title Insurance $ $
Other:_______________________ $ $
Government Recording and Transfer Charges
Recording Fees $ $
City/County Tax/Stamps $ $
Other:_______________________ $ $
Additional Settlement Charges
Pest Inspection $ $
Credit Life, and/or Disabilty Insurance (See Note below) $ $
Subtotals of Initial Fees, Commissions, Costs and Expenses $ $
Total of Initial Fees, Commissions, Costs and Expenses $
Compensation to Broker (Not Paid Out of Loan Proceeds)
Yield Spread Premium, Service Release Premium or Other Rebate Received from Lender $___________________
Yield Spread Premium, Service Release Premium or Other Rebate Credited to Borrower $___________________
Total Amount of Compensation Retained by Broker $___________________
 Note: The purchase of Credit Life and/or Disability Insurance is NOT required as a condition of making this proposed loan.
State of California
Department of real eState
Providing Service, Protecting You
Mortgage Loan DiscLosure stateMent (traDitionaL)
RE 882 (Rev. 10/10)
Page 1 of 3RE 882 — Page 2 of 3
ADDITIONAL REQUIRED CALIFORNIA DISCLOSURES
Proposed Loan Amount $_____________
Initial Commissions, Fees, Costs, and Expenses Summarized on Page 1 $_____________
Down Payment or Loan Payoffs/Creditors (List): $_____________
$_____________
$_____________
$_____________
Subtotal of All Deductions $_____________
Estimated Cash at Closing ¨ To You ¨ That You Must Pay $______________
GENERAL INFORMATION ABOUT LOAN
PROPOSED INTEREST RATE:
_________________________________%
¨FIXED RATE ¨INITIAL VARIABLE RATE
Proposed Monthly Loan Payments: $__________________ Principal & Interest (P&I)
If the loan is a variable interest rate loan, the payment will vary. See loan documents for details.
Total Number of Installments: ____________________
Loan Term: __________ Years ___________ Months
BALLOON PAYMENT INFORMATION
IS THIS LOAN SUBJECT TO A BALLOON PAYMENT?
¨ Yes ¨ No
DUE DATE OF FINAL BALLOON PAYMENT (ESTIMATED MONTH/DAY/YEAR) AMOUNT OF BALLOON PAYMENT
$
IF YES, THE FOLLOWING PARAGRAPH APPLIES:
NOTICE TO BORROWER: IF YOU DO NOT HAVE THE FUNDS TO PAY THE BALLOON PAYMENT WHEN IT COMES
DUE, YOU MAY HAVE TO OBTAIN A NEW LOAN AGAINST YOUR PROPERTY TO MAKE THE BALLOON PAYMENT.
IN THAT CASE, YOU MAY AGAIN HAVE TO PAY COMMISSIONS, FEES, AND EXPENSES FOR THE ARRANGING OF
THE NEW LOAN. IN ADDITION, IF YOU ARE UNABLE TO MAKE THE MONTHLY PAYMENTS OR THE BALLOON
PAYMENT, YOU MAY LOSE THE PROPERTY AND ALL OF YOUR EQUITY THROUGH FORECLOSURE. KEEP THIS
IN MIND IN DECIDING UPON THE AMOUNT AND TERMS OF THIS LOAN.
PREPAYMENT INFORMATION
PREPAYMENT PENALTY?
¨ Yes ¨ No
# OF YEARS THAT PREPAYMENT PENALTY IS IN EFFECT MAXIMUM DOLLAR AMOUNT OF PENALTY
IS THERE A PREPAYMENT PENALTY FOR PAYING IN EXCESS OF 20% OF THE ORIGINAL OR UNPAID LOAN BALANCE?
¨ Yes ¨ No If Yes, see loan documents for details.
TAXES AND INSURANCE
IMPOUND ACCOUNT?
¨ Yes ¨ No
APPROXIMATE AMOUNT
THAT WILL BE COLLECTED
MONTHLY
$
IMPOUND ACCOUNT WILL INCLUDE
County Property Taxes Mortgage Insurance Hazard Insurance Flood Insurance Other: ______________
¨ Yes ¨ No ¨ Yes ¨ No ¨ Yes ¨ No ¨ Yes ¨ No ¨ Yes ¨ No
IF NO, PLAN FOR THESE
PAYMENTS ACCORDINGLY
BORROWER MUST PLAN FOR PAYMENTS OF THE FOLLOWING ITEMS
County Property Taxes Mortgage Insurance Hazard Insurance Flood Insurance Other: ______________
¨ Yes ¨ No ¨ Yes ¨ No ¨ Yes ¨ No ¨ Yes ¨ No ¨ Yes ¨ No
Note: In a purchase transaction, county property taxes are calculated based on the sales price of the property and may require
the payment of an additional (supplemental) tax bill issued by the county tax authority. The payment of county property taxes
(including supplemental bills) may be paid by your lender if an impound/escrow account has been established.
If an impound/escrow account has not been established, the payment of all tax bills including any and all supplemental tax bills
will be the responsibility of the borrower(s).
OTHER LIENS
LIENS CURRENTLY ON THIS PROPERTY FOR WHICH THE BORROWER IS OBLIGATED
Lienholder’s Name Amount Owing Priority
LIST LIENS THAT WILL REMAIN OR ARE ANTICIPATED TO REMAIN 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 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.
WILL THIS LOAN BE MADE WHOLLY OR IN PART FROM BROKER CONTROLLED FUNDS AS DEFINED IN SECTION 10241(J) OF THE BUSINESS AND PROFESSIONS CODE?
¨ May ¨ Will ¨ Will Not
Note: 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.
STATED INCOME
IS THIS LOAN BASED ON LIMITED OR NO DOCUMENTATION OF YOUR INCOME AND/OR ASSETS?
¨ Yes ¨ No If Yes, be aware that this loan may have a higher interest rate or more points or fees than other products
requiring documentation.
NOTICE TO BORROWER: THIS IS NOT A LOAN COMMITMENT
Do not sign this statement until you have read and understood all of the information in it. All parts of this form must be completed
before you sign it. Borrower hereby acknowledges the receipt of a copy of this statement.
NAME OF BROKER LICENSE ID NUMBER BROKER’S REPRESENTATIVE LICENSE ID NUMBER
NMLS ID NUMBER NMLS ID NUMBER
BROKER’S ADDRESS
BROKER’S SIGNATURE DATE OR SIGNATURE OF REPRESENTATIVE DATE
BORROWER’S SIGNATURE DATE BORROWER’S SIGNATURE DATE
Department of Real Estate license information telephone number: 877-373-4542, or check license status at www.dre.ca.gov
NMLS – http://mortgage.nationwidelicensingsystem.org/about/pages/nmlsconsumeraccess.aspx
The Real Estate Broker negotiating the loan shall retain on file for a period of three years a true and correct copy of this
disclosure signed and dated by the borrower(s).
RE 882 — Page 3 of 3
THE RE 885 MORTGAGE LOAN DISCLOSURE STATEMENT, NON-TRADITIONAL MORTGAGE MUST BE USED
FOR NON-TRADITIONAL MORTGAGE LOANS OF RESIDENTIAL PROPERTY (1-4 UNITS).
Non-Traditional Mortgage Loans are loan products that allow the borrower to defer payments of principal or interest. If any of
the payments are not full principal and interest payments, then it is considered a Non-Traditional Mortgage Loan.