| CommercialBanc (Commercial Lender) guarantee's that a borrowers
commercial loan interest rate will not change from the offered and agreed
upon rate for its
commercial real estate loan programs. The CommercialBanc Interest Rate
Guarantee is valid under the following criteria:
A written interest rate
offer and acceptance must be signed and delivered to
Lender by borrower. Authorized signers are either
the guarantor or authorized signer on behalf of the
borrower if the borrower is a corporation, partnership,
Trust, REIT, etc.
Should a written offer to
lock an interest rate be offered and accepted and the
borrower or guarantor's credit profile, DSC, property
valuation, income, or other criteria important to the
approvability of a commercial loan or apartment loan request change, and this change
effects the salability of the commercial mortgage loan, CommercialBanc
reserves the right to void the interest rate agreement,
or relock the rate.
Commercial loan or apartment loan must close within the
specified period as set forth in the interest rate lock
agreement, due to no fault of the Lender, or the interest
rate guarantee is considered null and void.
Should CommercialBanc fail to
provide the interest rate agreed upon through the executed
Commercial Loan Interest Rate Guarantee, CommercialBanc will
waive any Commercial Lender fees, origination fees, and/or processing fees
for the specific commercial loan or apartment loan transaction.
CommercialBanc will not refund
any cash monies to any borrower under any circumstance. If a credit is due the borrower, CommercialBanc will issue a
credit to the borrower to be applied towards closing costs
for the commercial loan or apartment loan transaction.
Should there be a dispute
concerning CommercialBanc's Commercial Loan Interest Rate
Guarantee, the dispute will be handled through arbitration
by a designated arbitrator in the Commercial Lender's State in which it
is incorporated. |
