required documentation for originator approval
TRANSCRIPT
1 | P a g e W h o l e s a l e M o r t g a g e B a n k e r s
REQUIRED DOCUMENTATION FOR ORIGINATOR APPROVAL
Loan Originator’s Name:
Team Leader if applicable:
E-mail to: [email protected]
Attention: Client Services
Note:
Loans will not be funded until all of the following documentation has been submitted and approved. Commissions will be made payable to match the individual on the W-9 form. Please be sure all information is current and accurate prior to submit for approval.
1. Completed Originator Application form. 2. Driver License 3. Credit Report 4. State License 5. NMLS License 6. Send a $30 check written out to Fidelity Lending Solutions, Inc. for NMLS registration. 7. Add Fidelity Lending Solutions, Inc. NMLS ID: 922372 8. Completed W-9 form
Attach copy of IRS EIN confirmation letter or if SSN used provide copy of personal credit report, Copy of SSN card or SSN print-out.
Please contact us if you have any questions. (714)446-0884
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ORIGINATOR APPLICATION
A. Persona l Informat ion
Date Submitted:
Originator’s Name:
Address:
Phone: ( ) Fax: ( )
Email: Has your application ever been denied by any brokerage, bank, or financial organizations? Yes / No - If yes, please attach an explanation of the circumstances and the reason for denial
Have you been ever been suspended by any agency? Yes / No - If yes, please attach an explanation of the circumstances and reason for suspension
Have you ever been suspended from submitting loans to other lenders? Yes / No - If yes, please explain and give the name of the lender:
Have you ever been sanctioned by the BRE or any governmental agency? Yes / No - If yes, please explain:
Have/Do you previously operated or currently operating a mortgage related business under another name? Yes / No - If yes, please list company name(s), including all DBA(s):
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Originator Agreement
This Agreement is entered into the __________day of __________, 20_____ between Fidelity Lending Solutions, Inc. a California Corporation (hereinafter collectively referred to as “Lender”) and
_________________________________________, (hereinafter referred to as “Originator”)
Whereas, Originator is engaged in the activity of originating residential mortgage loans evidenced by notes secured by mortgages on real property for mortgage lenders; and
Whereas, Lender is engaged in the activity of, among other things, accepting retail loans; and
Whereas, Lender and Originator desires to enter into this agreement to govern the process of loans by Originator to Lender;
Now therefore, in consideration of the mutual covenants and benefits herein set forth, the parties hereto, intending to be legally bound, agree as follows;
This is intended to set forth the entire understanding between the parties whereby Lender agrees to underwrite residential mortgage loans up to 4 units referred, processed, telemarketed, or originated by the Originator and submitted to Lender for funding from time to time. Nothing contained herein shall obligate the Originator to submit all loan funding requests that it submits to Lender, it being understood that this shall be a nonexclusive agreement.
1. Originator shall be responsible for causing to be prepared the loan application and supporting credit
information (if applicable) all as may be required by Lender and in conformity with Lender’s policies and procedures as established from time to time.
2. If Lender agree to fund a loan request submitted by the Originator, Lender shall be responsible for all matters
pertaining to the underwriting thereof. All loans shall be closed on loan documentation and in a manner approved by Lender. The property which is the security for such a loan shall be appraised only by Lender’s approved appraisers.
3. Nothing contained herein shall constitute a partnership or joint venture between Lender and the Originator and
the parities acknowledge that all times they are operating as independent contractors. Originator shall at no time hold itself out to be Lender’s agent or employee.
4. Originator may charge and receive Lender a fee for its services in processing, telemarketing, originating, or
referring the loan. 5. Originator agrees at all times to comply with applicable Federal, State and Local laws regarding the processing
and origination of such loan, including but not limited to the Equal Opportunity Act, Truth in Lending Act, Federal Consumer Credit Protection Act, and the Equal Credit Opportunity Act.
6. Lender hereby retains the absolute right, in its sole discretion, to reject any and all applications submitted to it
by the Originator and shall not be bound to make any loan until it has informed the Originator of its intention to do so in writing. Lender’s intention to make any loan is conditional to quality control audits and procedures. Lender will also notify Broker in writing of a rejected application package. Originator warrants that if no loan is offered to an applicant by the Lender, or if no loan is accepted by an applicant,
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the Originator will be responsible for delivery of the Adverse Action Notice to applicant(s) as required by Equal Credit Opportunity Act (Regulation B).
7. Lender reserves the right to terminate this agreement at any time, and for any reason, which termination shall
be effective upon the sending of written notice thereof. 8. Originator represents and warrants to Lender, as of (I) the time any loan package is submitted to Lender, and
(ii) as of the time the loan is funded and closed, that:
7(a). Absence of Claims. Except as previously disclosed by the Originator to Lender in writing, there is not pending or, to the best of broker’s knowledge, threatened any suit, action, arbitration, or legal, administrative, or other proceeding or government investigation (including an allegation of fraud by another lender) against Broker or its current or former owners, agents, or employees which could have a materially adverse effect on the Broker’s business, assets, financial condition, or reputation.
7(b). No untrue statement. None of the statements or information contained in any Loan package will
contain any false or erroneous statements, or omit material facts necessary to make such statements or information accurate and understandable. Originator understands that by making the warranty contained in this subparagraph it is warranting the accuracy of all information contained in any loan package submitted to Lender, whether or not the Originator has knowledge of, or reason to suspect, any inaccuracy.
7(c). Duly Licensed. The Originator possesses all necessary licenses, permits, and authority to engage in
the activities contemplated by this Agreement unless Broker’s activities are restricted to working as a whole sale marketing. If applicable, Broker’s license number and its expiration date appear below.
7(d). Ownership. Except as otherwise disclosed to Lender in writing before the funding of any Loan,
Originator shall have no direct or indirect ownership interest in any property acting as security for the Loan.
7(e). Origination. All loans submitted will be processed entirely by the Lender.
9. Originator’s obligation to fully indemnify Lender under this Agreement shall not be affected by Lender taking
any of the following actions with or without notice to the Originator: (a) liquidation, repayment, retirement, or sale or resale of any Loan; (b) foreclosure of any Loan; or (c) sale or resale of the property securing any Loan.
10. If any Mortgage Loan is paid off within six months of the date the Mortgage Loan was consummated/funded,
regardless of the Originator’s involvement in Borrower’s payoff, Originator agrees to pay Fidelity Lending Solutions, Inc all compensation the Originator received as a result of Mortgage Loan, plus any loss incurred to Fidelity Lending Solutions, Inc. Fidelity Lending Solutions, Inc. shall notify the Originator in writing of the amount due with respect to any Early Payoff, and the Originator agrees to submit payment within fifteen (15) days of receipt of such notice. If payment is not timely received by Fidelity Lending Solutions, Inc., the amount owing may be offset against any amount due to the Originator, or an affiliated Originator as determined by Fidelity Lending Solutions, Inc., from Fidelity Lending Solutions, Inc.
11. The Originator shall indemnify and hold Lender and its shareholders, directors, officers, agents, employees,
successors, and assigns harmless from and against, and shall reimburse the same with respect to, any and all loss, damage, liability, costs, and expenses, including reasonable attorney’s fees, from any cause whatsoever, incurred by reason of or arising out of or in connection with (a) any breach of any representation or warranty contained in this Agreement, (b) Broker’s failure to perform any obligation hereunder, and (c) any claim by a Borrower resulting from Lender’s failure or refusal to fund a Loan (collectively “Loss”). Without limiting the generality of the foregoing, Originator’s indemnity shall extend to all repurchase demands of any third party to which Lender had sold any Loan. Originator’s obligation to indemnify Lender under this Agreement shall
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arise upon (a) Lender’s incurring a Loss, or (b) automatically upon Lender’s receipt of a Loan repurchase demand from a secondary market investor which Lender determines in its sole and absolute discretion to be enforceable, even if Lender has not incurred any Loss with respect to such Loan.
12. Attorney’s fees. If any legal action or other proceeding is brought for the enforcement of this Agreement, or
because of an alleged dispute, breach, default, or misrepresentation in connection with any of the provisions of this Agreement, the prevailing party or parties shall be entitled to reasonable attorneys’ fees and other costs incurred in that action or proceeding, in addition to any other relief to which it or they may be entitled.
13. This Agreement shall be governed by the laws of California.
14. This agreement shall be null and void unless countersigned by Lender indicating approval and acceptance of
the below listed Originator. IN WINTESS WHEREOF, the parties have caused their duly authorized representatives to execute this Mortgage Originator Agreement as of the date first set forth above.
“LENDER” “MORTGAGE ORIGINATOR” FIDELITY LENDING SOLUTIONS, INC. Name: 14730 Beach Blvd. #202 La Mirada, CA 90638 Address: PH: 714-446-0884 Fidelity Lending Solutions, Inc. By:
(Signature) (Date) By:
(Signature) (Date) (Name) (Name)
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AUTHORIZATION TO RELEASE INFORMATION
Legal Name of the Originator:
I/We hereby authorize you to release FIDELITY LENDING SOLUTIONS, INC, (henceforth as the “Lender”), any and all information Lender may require for the purpose of initial originator approval and periodic reviews of approved status not limited to credit report, criminal background check, drug testing and employment history.
Print/ Type Name Signature Social Security Number Date
ADDENDUM TO ORIGINATOR AGREEMENT
Addendum to Broker Agreement Rev. 10/05/2016 1 of 1
This Originator Agreement Addendum (Addendum) is made as of July 24th, 2017. This Addendum amends and supplements any and all previous or existing Originator Agreements between Lender and Loan Officer, each as defined below.
Early Payoff Premium/Credit/SRP Recapture (ALL PROGRAMS)
If any borrower pays off mortgage loan during the 210 days following the Funded/Closed Date, Loan Officer shall promptly reimburse to the Fidelity Lending Solutions, Inc., (1) any related premium above par and/or any other pricing enhancements paid by Fidelity Lending Solutions, Inc. to the Loan Officer and/or Borrower including but not limited to any amount paid by Fidelity Lending Solutions, Inc., and/or creditedtoward to borrower's closing cost OR(2) SRP of 1.750% of Loan Amount which was included in your final pricing whichever is greater.
IN WITNESS WHEREOF, the parties have caused there duly authorized representatives to execute this Originator Agreement as of the date first set forth above.
Originator Name: ____________________________________________________
Address: _________________________________________________________________________________
By: _______________________________________ (Signature)
Date:______________________________________
Lender: Fidelity Lending Solutions, Inc. Address: 14730 Beach Blvd. #202, La Mirada, CA 90638
By: ______________________________________ President of Fidelity Lending Solutions
Date: __________________
USCIS
Form I-9OMB No. 1615-0047 Expires 08/31/2019
Employment Eligibility Verification
Department of Homeland Security
U.S. Citizenship and Immigration Services
Page 1 of 3 Form I-9 07/17/17 N
►START HERE: Read instructions carefully before completing this form. The instructions must be available, either in paper or electronically,
during completion of this form. Employers are liable for errors in the completion of this form.
ANTI-DISCRIMINATION NOTICE: It is illegal to discriminate against work-authorized individuals. Employers CANNOT specify which
document(s) an employee may present to establish employment authorization and identity. The refusal to hire or continue to employ
an individual because the documentation presented has a future expiration date may also constitute illegal discrimination.
Section 1. Employee Information and Attestation (Employees must complete and sign Section 1 of Form I-9 no later
than the first day of employment, but not before accepting a job offer.)
Last Name (Family Name) First Name (Given Name) Middle Initial Other Last Names Used (if any)
Address (Street Number and Name) Apt. Number City or Town State ZIP Code
Date of Birth (mm/dd/yyyy) U.S. Social Security Number Employee's E-mail Address Employee's Telephone Number
- -
I am aware that federal law provides for imprisonment and/or fines for false statements or use of false documents in
connection with the completion of this form.
I attest, under penalty of perjury, that I am (check one of the following boxes):
1. A citizen of the United States
2. A noncitizen national of the United States (See instructions)
3. A lawful permanent resident (Alien Registration Number/USCIS Number):
4. An alien authorized to work until (expiration date, if applicable, mm/dd/yyyy):
Some aliens may write "N/A" in the expiration date field. (See instructions)
Aliens authorized to work must provide only one of the following document numbers to complete Form I-9:
An Alien Registration Number/USCIS Number OR Form I-94 Admission Number OR Foreign Passport Number.
QR Code - Section 1
Do Not Write In This Space
1. Alien Registration Number/USCIS Number:
OR
2. Form I-94 Admission Number:
OR
3. Foreign Passport Number:
Country of Issuance:
Signature of Employee Today's Date (mm/dd/yyyy)
Preparer and/or Translator Certification (check one): I did not use a preparer or translator. A preparer(s) and/or translator(s) assisted the employee in completing Section 1.
(Fields below must be completed and signed when preparers and/or translators assist an employee in completing Section 1.)
I attest, under penalty of perjury, that I have assisted in the completion of Section 1 of this form and that to the best of my
knowledge the information is true and correct.
Signature of Preparer or Translator Today's Date (mm/dd/yyyy)
Last Name (Family Name) First Name (Given Name)
Address (Street Number and Name) City or Town State ZIP Code
Employer Completes Next Page
USCIS
Form I-9OMB No. 1615-0047 Expires 08/31/2019
Employment Eligibility Verification
Department of Homeland Security
U.S. Citizenship and Immigration Services
Page 2 of 3 Form I-9 07/17/17 N
Section 2. Employer or Authorized Representative Review and Verification (Employers or their authorized representative must complete and sign Section 2 within 3 business days of the employee's first day of employment. You
must physically examine one document from List A OR a combination of one document from List B and one document from List C as listed on the "Lists
of Acceptable Documents.")
Employee Info from Section 1Last Name (Family Name) First Name (Given Name) M.I. Citizenship/Immigration Status
List A OR List B AND List C Identity and Employment Authorization Identity Employment Authorization
Document Title Document Title Document Title
Issuing Authority Issuing Authority Issuing Authority
Document Number Document Number Document Number
Expiration Date (if any)(mm/dd/yyyy) Expiration Date (if any)(mm/dd/yyyy) Expiration Date (if any)(mm/dd/yyyy)
Document Title
Additional Information QR Code - Sections 2 & 3 Do Not Write In This SpaceIssuing Authority
Document Number
Expiration Date (if any)(mm/dd/yyyy)
Document Title
Issuing Authority
Document Number
Expiration Date (if any)(mm/dd/yyyy)
Certification: I attest, under penalty of perjury, that (1) I have examined the document(s) presented by the above-named employee,
(2) the above-listed document(s) appear to be genuine and to relate to the employee named, and (3) to the best of my knowledge the
employee is authorized to work in the United States.
The employee's first day of employment (mm/dd/yyyy): (See instructions for exemptions)
Signature of Employer or Authorized Representative Today's Date (mm/dd/yyyy) Title of Employer or Authorized Representative
Last Name of Employer or Authorized Representative First Name of Employer or Authorized Representative Employer's Business or Organization Name
Employer's Business or Organization Address (Street Number and Name) City or Town State ZIP Code
Section 3. Reverification and Rehires (To be completed and signed by employer or authorized representative.)
A. New Name (if applicable) B. Date of Rehire (if applicable)
Last Name (Family Name) First Name (Given Name) Middle Initial Date (mm/dd/yyyy)
C. If the employee's previous grant of employment authorization has expired, provide the information for the document or receipt that establishes
continuing employment authorization in the space provided below.
Document Title Document Number Expiration Date (if any) (mm/dd/yyyy)
I attest, under penalty of perjury, that to the best of my knowledge, this employee is authorized to work in the United States, and if
the employee presented document(s), the document(s) I have examined appear to be genuine and to relate to the individual.
Signature of Employer or Authorized Representative Today's Date (mm/dd/yyyy) Name of Employer or Authorized Representative
Form I-9 07/17/17 N Page 3 of 3
LISTS OF ACCEPTABLE DOCUMENTS
All documents must be UNEXPIRED
Employees may present one selection from List A
or a combination of one selection from List B and one selection from List C.
LIST A
Documents that Establish
Both Identity and
Employment Authorization O
R
LIST B LIST C
Documents that Establish Documents that Establish
Identity Employment Authorization
AND
1. U.S. Passport or U.S. Passport Card
1. Driver's license or ID card issued by a
State or outlying possession of the
United States provided it contains a
photograph or information such as
name, date of birth, gender, height, eye
color, and address
1. A Social Security Account Number
card, unless the card includes one of
the following restrictions:
(1) NOT VALID FOR EMPLOYMENT
(2) VALID FOR WORK ONLY WITH
INS AUTHORIZATION
(3) VALID FOR WORK ONLY WITH
DHS AUTHORIZATION
2. Permanent Resident Card or Alien
Registration Receipt Card (Form I-551)
3. Foreign passport that contains a
temporary I-551 stamp or temporary
I-551 printed notation on a machine-
readable immigrant visa 2. ID card issued by federal, state or local
government agencies or entities,
provided it contains a photograph or
information such as name, date of birth,
gender, height, eye color, and address 4. Employment Authorization Document
that contains a photograph (Form
I-766)
2. Certification of report of birth issued
by the Department of State (Forms
DS-1350, FS-545, FS-240) 3. School ID card with a photograph
5. For a nonimmigrant alien authorized
to work for a specific employer
because of his or her status:
a. Foreign passport; and
b. Form I-94 or Form I-94A that has
the following:
(1) The same name as the passport;
and
(2) An endorsement of the alien's
nonimmigrant status as long as
that period of endorsement has
not yet expired and the
proposed employment is not in
conflict with any restrictions or
limitations identified on the form.
3. Original or certified copy of birth
certificate issued by a State,
county, municipal authority, or
territory of the United States
bearing an official seal
4. Voter's registration card 5. U.S. Military card or draft record 6. Military dependent's ID card
4. Native American tribal document 7. U.S. Coast Guard Merchant Mariner
Card 5. U.S. Citizen ID Card (Form I-197)
8. Native American tribal document
6. Identification Card for Use of
Resident Citizen in the United
States (Form I-179) 9. Driver's license issued by a Canadian
government authority
For persons under age 18 who are
unable to present a document
listed above:
7. Employment authorization
document issued by the
Department of Homeland Security
6. Passport from the Federated States of
Micronesia (FSM) or the Republic of
the Marshall Islands (RMI) with Form
I-94 or Form I-94A indicating
nonimmigrant admission under the
Compact of Free Association Between
the United States and the FSM or RMI
10. School record or report card 11. Clinic, doctor, or hospital record 12. Day-care or nursery school record
Examples of many of these documents appear in Part 13 of the Handbook for Employers (M-274).
Refer to the instructions for more information about acceptable receipts.