UpFront Mortgage Lender Program Requirements
CenturyPoint Mortgage has met the rigorous requirements of the UpFront Mortgage Lender program (www.mtgprofessor.com). An UpFront Mortgage Lender (UML) provides mortgage shoppers with the information they need to make an informed decision before applying for a mortgage, and also guarantee them fair treatment during the period after they apply through closing.
Requirement 1: A UML Must Provide Quick Access to the
Market Niches it Prices Online.
CenturyPoint Mortgage prices hundreds of loan products online. A complete list of available products is available:
Product List
Requirement 2: A UML discloses all lender fees, including points, origination fees, and any fixed-dollar fees, and guarantees them to closing.
CenturyPoint Mortgage provides details on all of our lender fees in our custom rate quotes. These fees include the costs for credit reports, appraisals, underwriting and other costs associated with your loan. Once you lock your rate, these costs are guaranteed not to change if you close your loan before your rate lock expires (typically within 30 days).
Requirement 3: A UML discloses all third party fees with the best estimates possible, indicating which if any are guaranteed by the UML.
CenturyPoint Mortgage provides a detailed break-down of expected third party fees in our online rate quotes and GFEs. While we do not guarantee third party fees, we make every effort to ensure that the estimates quoted are a complete and accurate assessment of the potential costs a borrower can expect for these items.
Requirement 4: A UML Provides a Clear Explanation of its Lock Requirements, and Discloses Them Prominently.
We make it easy to lock in a rate, and our rate lock policies are clearly defined. Borrowers can submit a lock request online or over the phone. Our complete lock requirements are explained online in our
Rate Lock Policy. Please also review our answers to the Mtg. Professor's Questions about our Locking Policy.
Requirement 5: A UML discloses all the information about its ARMs needed by shoppers to make intelligent decisions.
The Mortgage Professor provides a list of ARM features required to make an
informed decision about whether an Adjustable Rate Mortgage is right for you: Information Needed to Evaluate an ARM. Details on the ARMs
available through CenturyPoint Mortgage are available here.
Requirement 6: A UML informs borrowers if its loan officers are compensated in a way that gives them a financial incentive to overcharge the borrower.
The Mortgage Specialists at CenturyPoint Mortgage are not compensated based on interest rates, points or other fees charged to borrowers.
Our staff has no incentive to place a borrower in a loan that does not meet their personal financial objectives. Rather, we are motivated
to help borrowers find the best loan for their needs in the hopes that we will earn the priveledge of customer referrals and repeat business.
