PRE-APPLICATION DISCLOSURE AND

 FEE AGREEMENT

AmCap Group

31 South Street,  Suite 203

Morristown, NJ  07960

Tel. 1-800-538-0879

 Fax. 973-267-4949

Registered  Mortgage Broker

NYS  Department of Banking

In the following disclosure, I=Applicant; You=Mortgage Broker.

You have advised me that you are authorized and prepared to assist me in securing financing.  I understand that your services may include, but are not limited to the following:

Counseling on available mortgage products;

Counseling on general mortgage qualification procedures and requirements;

Counseling on my financial capabilities;

Assistance in obtaining information required to complete the mortgage application;

Assistance in processing the loan application, and meeting conditions of the loan commitment.

 
I hereby agree to engage you for the purposes of advising me about financing and to provide the services described above.  This agreement will continue until the earlier of the declination of my loan request(s), the closing of my loan or the termination of your services.

I acknowledge that prior to paying any fees or completing any application(s), I was advised of the following:

Your services are advisory and administrative in nature;

You are not authorized to make mortgage loans or commitments;

You can not guarantee acceptance into a particular loan program or specific loan terms or conditions.

You may be eligible to receive a lender paid bonus ( cash or none-cash ) if my loan is placed with a particular lender, and you will notify me if this occurs.

  BROKER FEE:

  I understand that, as compensation for your services, you will be paid as checked below:

__X__   The lender will pay you a fee of _0-3__ % of the loan amount . The compensation you will receive from the lender for your services is included in the rate, points, fees and terms of the loan as quoted by your lender in its commitment.  The maximum points paid, including premium pricing payable by the lender to you, shall not exceed _3_ points.

_X_  The fee the lender will pay you is not know at this time but will be disclosed to me at the time of lock-in or when the rate is set.  The maximum points paid, including premium pricing payable by the lender to you, shall not exceed __0-3__ points.

  _____ I will pay you, from the loan proceeds, a fee of _____ % of the loan amount or

$_____.  I authorize the closing agent you collect this fee from me at closing.

_____  I will Pay you directly, upon my signing acceptance of a commitment _____  or at closing ____, a fee of _____ % of the loan amount or $ _____.

Mortgage Broker Fee Acknowledgement:

I acknowledge that this mortgage broker fee will be paid to you.  I further acknowledge that there is no other mortgage broker fee agreement between us.

  I understand that I am required to pay the following none refundable fees at application:

  $ _N/A_  Applications Fee.

  $ _250.00_ Property Appraisal Fee. *

  $ _25.00_ Credit Report Fee. *

·        The property appraisal fee and the credit report fee are estimated of the actual cost of the service. Should the actual costs exceed the estimate, I understand that I will be billed and will pay the shortfall at or prior to closing.  If the credit report and appraisal have not been done, the fee will be refundable.

Prepayment Penalties:

I understand that certain mortgage products impose a prepayment penalty on the borrower. You will disclose the amount and terms and or formula for calculating, the pre-payment penalty, and the terms of the pre-payment penalty, if any, as soon as you know them.

Application Questions:

I understand that I may address questions or comments about my application to

Stanley Votruba, Senior Vice President, AmCap Group, 31 South Street, Suite 203, Morristown, NJ  07960.   1-800-538-0879.

By click YES, I acknowledge receipt of a copy of this pre-application disclosure and fee agreement.