Disclosures and Licenses
Last Updated: December 10, 2019
Lenderful LLC is a Michigan limited liability company with its corporate headquarters located at 35 W. Huron St., 10th Floor, Pontiac, Michigan 48342. Any reference in this Disclosures and Licenses to “Lenderful”, “we” or “us” or similar words shall refer to Lenderful LLC or its wholly-owned subsidiary, Lenderful Brokerage LLC, unless otherwise indicated. Any reference in Licenses and Disclosures to “you” or “your” means the person(s) using the Lenderful website (the “Site”) and/or product, facilities or services of Lenderful offered through alternative methods. Lenderful is an online mortgage platform company, generally required to be licensed under state law as a Mortgage Broker or other similar state license designation.
Licensing and Scope of Service.
LENDERFUL IS AN ONLINE MORTGAGE PLATFORM COMPANY AND, THROUGH ITS WHOLLY-OWNED SUBSIDIARY, LENDERFUL BROKERAGE LLC, A DULY LICENSED MORTGAGE BROKER IN THE STATE OF MICHIGAN (NMLS# 1326443), AS REQUIRED BY LAW, WITH ITS MAIN OFFICE LOCATED AT 35 W. HURON ST., 10TH FLOOR, PONTIAC, MICHIGAN, TELEPHONE NUMBER (248) 480-0509.
Lenderful DOES NOT: (i) service loans or (ii) issue commitments with respect to loan products. Any loan inquiry or request that you submit through Lenderful does NOT constitute an application for credit. Rather, it is an inquiry and request by you to be matched with participating lenders for the purpose of receiving conditional loan offers from such lenders. You may have to complete a full application with a particular lender before the lender will extend a binding offer of credit. Interest rates and terms indicated on the Lenderful Site are provided by lenders with which Lenderful may match you, and such disclosures are current as of the date indicated.
Except as otherwise provided for your state, Lenderful is not an agent of you or any lender, and Lenderful does not endorse or recommend the products of any particular lender. You should rely on your own judgment in deciding which available loan product, terms and lender that best suits your personal financial requirements. The lender is solely responsible for the products and services it provides to you, and you agree that Lenderful 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 products or services. You understand that lenders may keep your loan request information and any other information provided by Lenderful or received by them in the processing of your loan request, whether or not you are qualified for a loan with them or if you enter into any loan agreement or other transaction with them. You agree to notify any particular lender directly if you no longer want to receive communications from them or their respective affiliates.
Lenderful does not charge you any fee for its services. Lenderful receives its compensation from lenders and other service providers for the facilities and services provided by Lenderful. Lenderful’s compensation varies by product and service. Marketing fees paid by the lender or other service provider may be included in your rate, points or term. A lender 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, not Lenderful, will determine the amount of any such fee(s) and should provide information to you regarding the refundability of any such fee.
Any inquiry or request made by you on this Site will be forwarded to participating lenders and other service partners of Lenderful (depending on product selected) and these lenders and service 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, but are not limited to: (i) the Integrated Loan Disclosure or Loan Estimate, which will include details regarding your cost of credit and the lender’s good faith estimates of your settlement costs; (ii) certain HUD-mandated booklets (“Your home loan toolkit: A step-by-step guide” and/or “What you should know about home equity lines of credit”); notices concerning the possibility that your mortgage loan servicing may be transferred; and (iii) your right to a copy of any appraisal, if any, performed on your home.
Information that you provide Lenderful regarding ethnicity, race, sex, marital status, and age is being requested by the Federal Government for the purpose of monitoring compliance with Federal statutes that prohibit creditors from discriminating against applicants on those bases. If you choose not to provide the information, Lenderful or the lender will be required to note your ethnicity, race and sex on the basis of visual observation or surname.
Fair Housing Act.
EQUAL HOUSING OPPORTUNITY
We do Business in Accordance With the Fair Housing Act (The Civil Rights Act of 1968, as amended by the Fair Housing Amendments Act of 1988) and The Equal Credit Opportunity Act (ECOA)
IT IS ILLEGAL TO DISCRIMINATE AGAINST
ANY PERSON BECAUSE OF RACE, COLOR, RELIGION, SEX, HANDICAP, FAMILIAL STATUS (HAVING ONE OR MORE CHILDREN), OR NATIONAL ORIGIN
- In the sale or rental of housing or residential lots.
- In advertising the sale or rental of housing.
- In the financing of housing.
- In the appraisal of housing.
- In the provision of real estate brokerage services.
- Blockbusting is also illegal.
Anyone who feels he or she has been discriminated against should send a complaint to:
U.S. Department of Housing and Urban Development
Assistant Secretary for Fair Housing and Equal Opportunity
Washington, DC 20410
The ECOA also 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, Washington, DC 20580 or at 1-877-FTC-HELP (1-877-382-4357; TDD 1-866-653-4261; or at www.ftc.gov.