CREDIT REPORT AUTHORIZATION & ACKNOWLEDGEMENT
Authorization is hereby granted to Lender and/or Mortgage Broker to obtain a consumer credit report through a credit reporting agency chosen by Lender and/or Mortgage Broker. I understand and agree that Lender and/or Mortgage Broker intends to use the consumer credit report for the purposes of evaluating my financial readiness to obtain a loan. I understand that this credit report will be retained on file at the Lender and/or Mortgage Broker’s office for use only by Lender and/or Mortgage Broker’s staff. This information will not be disclosed to anyone by Lender and/or Mortgage Broker without my written consent. Furthermore, I understand that, should I choose to apply for financing through Lender and/or Mortgage Broker, a revised credit report costing an additional fee may be required. My signature below authorizes the release to the credit reporting agency of financial information which I have supplied to Lender and/or Mortgage Broker in connection with such an evaluation. Authorization is further granted to the credit reporting agency to use photostatic reproduction of this form if required to obtain any information necessary to complete my consumer credit report.PERMISSION HAS BEEN GRATED FOR THE RELEASE OF FINANCIAL INFORMATION TO THE CREDIT REPORTING AGENCY AND GRANTS PERMISSION FOR LENDER AND/OR MORTGAGE BROKER TO OBTAIN A COPY OF YOUR CREDIT REPORT.
Each of the undersigned specifically represents to Lender and to Lender’s actual or potential agents, brokers, processors, attorneys, insurers, servicers, successors and assigns and agrees and acknowledges that: (1) the information provided in this application is true and correct as of the date this loan application was submitted. (2) the loan requested pursuant to this application (the “Loan”) will be secured by a mortgage or deed of trust on the property described in this application; (3) the property will not be used for any illegal or prohibited purpose or use (4) all statements made in this application are made for the purpose of obtaining a commercial, multifamily, or investment property mortgage loan; (5) the property will not be occupied by the borrower as a residence; (6) the Lender, its servicers, successors or assigns may retain the original and/or an electronic record of this application, whether or not the Loan is approved; (7) the Lender and its agents, brokers, insurers, servicers, successors, and assigns may continuously rely on the information contained in the application, and I am obligated to amend and/or supplement the information provided in this application if any of the material facts that I have represented herein should change prior to closing of the Loan; (8) ownership of this loan application, funding package, Loan and/or administration of the Loan account may be transferred with written notice to borrower (9) neither Lender nor i ts agents, brokers, insurers, servicers, successors or assigns has made any representation or warranty, express or implied, to me regarding the property or the condition or value of the property; and (10) my transmission of this application as an “electronic record” containing my ” electronic signature,” as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or my facsimile transmission of this application containing a facsimile of my signature, shall be as effective, enforceable and valid as if a paper version of this application were delivered containing my original written signature. Each of the undersigned hereby acknowledges that any owner of the Loan, its servicers, successors and assigns, may verify or reverify any information contained in this application or obtain any information or data relating to the Loan, for any legitimate business purpose through any source, including a source named in this application or a consumer reporting agency.