Amerisave has been awarded the rare Upfront Mortgage Lender (UML) designation. The UML certification
assures customers fair treatment in all dealings with Amerisave. Additionally, you are assured a
fair and accurate interest rate and closing cost quote.
To be certified, Amerisave has met all of the UML requirements below. Read on to learn how
Amerisave is dedicated to your satisfaction:
A UML Must Provide Quick Access to the Market Niches it Prices On-Line.
The home loan market in the US is divided into millions of market niches and no one lender serves
them all. Customers need a quick way to determine whether a particular lender prices the niche in
which that customer lives. If not, the customer can go elsewhere without wasting time.
To see a list of Amerisave's market niche's click here:
Amerisave Market Niches
A UML discloses all lender fees, including points, origination fees, and any
fixed-dollar fees, and guarantees them to closing.
This assures borrowers that price information is complete, and that new fees won't be added or
existing ones increased after they have committed to working with the selected lender.
Learn about the Amerisave SureFee.
A UML discloses all third party fees with the best estimates possible,
indicating which if any are guaranteed by the UML.
A UML Provides a Clear Explanation of its Lock Requirements.
Mortgage customers need to know when they have the discretion to lock the terms of the loan. The
explanation includes any required payments, processes that must be completed, how expired locks are
handled, and whether the borrower and the UML are committed.
A UML discloses all the information about its ARMs needed by customers to
make intelligent decisions.
Customers need information on potential ARM performance – what will happen to the interest rate and
mortgage payment under assumptions about future interest rates that make sense to the customer.
Amerisave discloses the index and margin used, as well as the interest rate caps, on all ARM's we
offer. Simply search rates and click on "view" under "loan details" for the loan program and
interest rate in which you are interested.
A UML informs borrowers if its loan officers are compensated in a way that
gives them a financial incentive to overcharge the borrower.
Loan officers often benefit financially if they can induce the borrower to pay more than the prices
posted by the lender or broker. Where this is the case, the borrower ought to know about it.
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