Conduit Loan
(CMBS) Interest Rate Guarantee Disclosure
CommercialBanc (Conduit Lender) guarantee's that a borrowers
conduit loan interest rate will not change from the offered and agreed
upon rate for our
Series and Plus Conduit 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 loan request change, and this change
effects the salability of the loan, CommercialBanc
reserves the right to void the interest rate agreement.
Conduit loan must close within the
specified period as set forth in the interest rate lock
agreement, due to no fault of the Lender, the interest
rate guarantee is considered null and void.
Should CommercialBanc fail to
provide the interest rate agreed upon through the executed
Conduit Loan Interest Rate Guarantee, CommercialBanc will
waive any Conduit Lender fees, origination fees, and/or processing fees
for the specific 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 credited towards closing costs
for the specific transaction.
Should there be a dispute
concerning CommercialBanc's Apartment Loan Interest Rate
Guarantee, the dispute will be handled through arbitration
by a designated arbitrator in the Conduit Lenders State in which it
is incorporated. |
