Compliance & Disclosure
Compliance & Disclosure
Lenders Portal Direct, LLC is a limited liability company with its corporate headquarters located at 801 Second Ave, Seattle, WA 98104. Any reference in this Licenses and Disclosures to “we” or “us” or similar words shall refer to Lenders Portal Direct LLC unless otherwise indicated, all such entities referred to as “Lenders Portal Direct”. Any reference in Compliance and Disclosures to “you” or “your” means the person(s) using the Lenders Portal Direct Websites and/or the good, facilities or services of Lenders Portal Direct offered through alternative methods. Lenders Portal Direct is a marketing lead generator and real estate advisory company. Lenders Portal Direct DOES NOT take mortgage applications, originate, service, make loans or credit decisions in connection with loans. Nor does Lenders Portal Direct assist in purchasing or selling of residential or commercial properties. Lenders Portal Direct services are only administrative. Any loan inquiry you submit is NOT an application for credit. Rather, it is an inquiry to be matched with Lenders or Real Estate Professionals to receive condition offers from fully Licensed Lenders or applicable Real Estate Professionals. You may have to complete an application with a Lender or Real Estate Professional before they will extend an unconditional offer. A Lender or Real Estate Professional you select may require you to pay an application or other fee to cover the costs of an appraisal, credit report or other items. The Lender or applicable Real Estate Professional, not Lenders Portal Direct, will determine the amount of any such fee and should provide information to you regarding the refundability of any such fee unless otherwise stated by Lenders Portal Direct. Lenders Portal Direct, LLC is only a portal to Lenders and Real Estate Professionals, ultimately the consumer assumes all responsibility for the selection of Lender or Real Estate professional and understands the outcome of those transactions is not the responsibility of Lenders Portal Direct, LLC.
Except as otherwise provided for your state, Lenders Portal Direct, LLC is not an agent of you or any Lender or Real Estate Professional. You should rely on your own judgment in deciding which available loan product, terms and Lender or Real Estate Professional that best suits your personal financial requirements. The Lender or Real Estate Professional is solely responsible for its services to you, and you agree that Lenders Portal Direct, LLC shall not be liable for any damages or costs of any type arising out of, or in any way connected with, your use of such services. You understand that Lenders or Real Estate Professionals may keep your loan request information and any other information provided by Lenders Portal Direct, LLC or received by them in the processing of your loan request or other services, whether or not you are qualified for a loan or other services with them or if you make a loan or execute other services with them. In addition, Lenders Portal Direct, LLC may receive personally identifiable information regarding the disposition of your loan or other Real Estate transactions from the Lender or Real Estate Professional in order to fulfill its regulatory requirements as well as for internal business purposes. You agree to notify any particular Lender or Real Estate Professional directly if you no longer want to receive communications.
All Lenders or Real Estate Professionals are required to be fully licensed, accredited and compliant with all applicable state and federal laws. All Lenders, Real Estate Professionals and Partners are required to provide proof of all applicable licensing to prospective clients upon initial contact and any time thereafter when requested. This includes but is not limited to NMLS numbers in all applicable states doing business, Real Estate Agent or Broker ID numbers, and company license information. Lenders Portal Direct is not responsible for any sudden change or lapse in license credentials from any Lender, Broker or Real Estate Professional.
Lenders Portal Direct does not charge you any fee for its services pertaining to the origination or refinance of loans, commercial or residential property purchases or relocation programs. Lenders Portal Direct receives its compensation from the Lenders, Real Estate Professionals or Providers for the goods, facilities and services provided by Lenders Portal Direct. Compensation varies by product and service. All other products or advisory services provided by Lenders Portal Direct may have fees associated for administrative purposes. Compensation varies by product or service and will be fully disclosed. Marketing fees paid by the Lender, Real Estate Professional or Provider may be included in your rate, points, term or closing fee. Although some state licensing laws treat fees paid in exchange for marketing lead generation services as mortgage broker fees or origination fees, this is not the case under federal law.
Any loan request you submit is NOT an application for credit. Rather, it is a request to be matched with Lenders or Real Estate Professionals to receive conditional loan offers from Lenders or Real Estate Professionals. You may have to complete a full application with a Lender or Real Estate Professional before they will extend an unconditional loan or other applicable offer. A Lender or Real Estate Professional you select may require you to pay an application or other fee to cover the costs of an appraisal, credit report as well as for other items. The Lender or Real Estate Professional will determine the amount of any such fee(s) and should provide information to you regarding the refundability of any such fee(s).
Lenders Portal Direct intends that the information contained in the Websites be accurate and reliable; however, errors sometimes occur. The information is provided as a service to the general public over the age of eighteen and is subject to change without prior notice. In addition, changes and improvements to the information provided herein and are provided “as-is” without warranty of any kind, implied, expressed or otherwise. Under no circumstances will Lenders Portal Direct LLC, be liable for any loss or damage caused by your reliance on information obtained through the Websites. It is your responsibility to evaluate the accuracy, completeness or usefulness of any information, opinion, advice or other content available through the Websites.
Federal Compliance
Any request will be forwarded to Lenders, Brokers, Dealers, Real Estate Professional or Partners (depending on product selected) and these Partners may make certain disclosures to you. These disclosures, which are required by the Truth in Lending Act (TILA), the Real Estate Settlement Procedures Act (RESPA), and certain other federal and state laws, include details of your cost of credit; good faith estimates of your settlement costs (GFE); HUD mandated booklets “Guide to Settlement Costs” and/or “When your Home is on the Line”; notices concerning the possibility that your mortgage loan servicing may be transferred; and your right to a copy of any appraisal, if any, performed on your home. The Equal Credit Opportunity Act (ECOA) prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract), 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 agency that administers compliance with this law varies by Lender depending on its lending authority, but may include the Federal Trade Commission, Equal Credit Opportunity, Consumer Response Center. Lenders Portal Direct does not make mortgage loans or property purchase commitments.
If your loan or other product or service request is forwarded to a Lender or Real Estate Professional that makes you an offer, you should receive from the Lender or Real Estate Professional a good faith estimate(GFE) required under RESPA and an initial disclosure statement required under the TILA, each within three (3) business days from the date you submit an application with the Lender or Real Estate Professional. If the Lender or Real Estate Professional 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.
An applicant, if married, may apply for a separate account / credit. All Lenders or Real Estate Professionals are required to be fully licensed, accredited and compliant with all applicable state and federal laws. All Lenders, Real Estate Professionals and Partners are required to provide proof of all applicable licensing to prospective clients upon initial contact and any time thereafter when requested. This includes but is not limited to NMLS numbers in all applicable states doing business, Real Estate Agent or Broker ID numbers, and company license information. Lenders Portal Direct is not responsible for any sudden change or lapse in license credentials from any Lender, Broker, Real Estate Professional and or Partners.
All Affiliates Are Registered Equal Housing Lenders
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, 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.
