Last Updated and Effective: February 1, 2023
General. Pacific gate Lending, INC., is a Delaware limited liability company located at 3435 Wilshire Blvd. #1960
Los Angeles, California 90010. Any reference in this Licenses and Disclosures to “we” or “us” or similar words shall refer to Pacific gate Lending, INC. unless otherwise indicated, all such entities referred to as “Pacific gate Lending, INC.”. Any reference in Licenses and Disclosures to “you” or “your” means the person(s) using the Pacific gate Lending, INC. Websites (as defined in the Terms of Use Agreement), and/or the good, facilities or services of Pacific gate Lending, INC. offered through alternative methods. Pacific gate Lending, INC. is a marketing lead generator, required to be licensed as a Mortgage Broker or other state license designation. Pacific gate Lending, INC. DOES NOT take mortgage applications, originate, service, make loans or credit decisions in connection with loans, nor does Pacific gate Lending, INC. issue commitments or lock-in agreements. Pacific gate Lending, INC.’s services are only administrative. Any loan inquiry you submit is NOT an application for credit. Rather, it is an inquiry to be matched with Lenders to receive condition loan offers from Lenders. You may have to complete an application with a Lender before they will extend an unconditional offer. 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 Pacific gate Lending, INC., will determine the amount of any such fee and should provide information to you regarding the refundability of any such fee. Pacific gate Lending, INC. does not endorse or recommend the products of any particular Lender.
Except as otherwise provided for your state, Pacific gate Lending, INC. is not an agent of you or any 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 its services to you, and you agree that Pacific gate Lending, INC. 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 services. You understand that Lenders may keep your loan request information and any other information provided by Pacific gate Lending, INC. 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 make a loan with them. In addition, Pacific gate Lending, INC. may receive personally identifiable information regarding the disposition of your loan from the Lender in order to fulfill its regulatory requirements as well as for internal business purposes. You agree to notify any particular Lender directly if you no longer want to receive communications.
Fees. Pacific gate Lending, INC. does not charge you any fee for its services. Pacific gate Lending, INC. receives its compensation from the Lenders or Providers for the goods, facilities and services provided by Pacific gate Lending, INC. Pacific gate Lending, INC.’s compensation varies by product and service. Marketing fees paid by the Lender or Provider may be included in your rate, points, or term. Although some state licensing laws treat fees paid in exchange for marketing lead generation services as mortgage broker fees or origination fees, this is not the case under federal law. See the Terms of Use Agreement for details.
Credit. Any loan request you submit is NOT an application for credit. Rather, it is a request to be matched with Lenders to receive conditional loan offers from Lenders. You may have to complete a full application with a Lender before they will extend an unconditional loan offer. A Lender you select may require you to pay an application or other fee to cover the costs of an appraisal, credit report as well as for other items. The Lender will determine the amount of any such fee(s) and should provide information to you regarding the refundability of any such fee(s).
Federal Disclosures. Any request will be forwarded to Lenders, Brokers, Dealers, or Partners (depending on product selected) and these 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 details of your cost of credit; good faith estimates of your settlement costs (GFE) on August 1, 2015 the GFE will be called the Integrated Loan Disclosure or Loan Estimate and will be delivered to you by the Lender you select to proceed with for your loan needs; Department of Housing and Urban Development (HUD) mandated booklets “Guide to Settlement Costs” and/or “When your Home is on the Line”; notices concerning the possibility that your mortgage loan servicing may be transferred; and your right to a copy of any appraisal, if any, performed on your home. The Equal Credit Opportunity Act (ECOA) 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.
PURSUANT TO Pacific gate Lending, INC.’S TERMS OF USE AGREEMENT AND THE CONSENT FOR ELECTRONIC DISCLOSURES, THE DISCLOSURES AND CONSENTS REQUIRED UNDER CERTAIN FEDERAL AND/OR STATE LAWS ARE DEEMED TO BE PROVIDED, RECEIVED AND AGREED TO BY YOUR USE OF THE WEBSITES (AS DEFINED IN THE TERMS OF USE AGREEMENT).
State Licenses - Pacific gate Lending, INC.’s Nationwide Mortgage Licensing System (NMLS) Identification Number is 1289683.
For some states, required Mortgage Broker Disclosures are included above in the Pacific gate Lending, INC. Disclosures section.
NOTE: Except for state or federally chartered depository institutions that are FDIC- or NCUA-insured, it is unlawful for a person to broker or make a refinancing of a residential mortgage loan when the refinancing charges additional points and fees, within a 12-month period after the original loan agreement was signed, unless the refinancing results in a reasonable, tangible net benefit to the borrower, considering all of the circumstances surrounding the refinancing.
California Licensed by California Department of Real Estate (DRE), under the California Real Estate Law, License No. 01948887, with principal office located at Pacific gate Lending, INC. 3435 Wilshire Blvd. #1960 Los Angeles, CA 90010 (also doing business as Pacific gate Lending).
Pacific gate Lending, INC. does not make mortgage loans or commitments.
If your loan request is forwarded to a Lender that makes you an offer, you should receive from the Lender a good faith estimate (GFE) required under RESPA, on August 1, 2015, the GFE changed to be known as an integrated disclosure and referred to as an initial Loan Estimate and will have both the RESPA and TILA disclosures. The new disclosure statement required under the TILA/RESPA, is required to be delivered within three (3) business days from the date you submit an application to a Lender. If the Lender denies your request for credit and that action is based, in whole or in part, on any information contained in a consumer credit report, you have the right to obtain, within sixty (60) days, a free copy of your consumer credit report from the credit reporting agency that compiles and maintains files on consumers on a nationwide basis. You also have the right to dispute the accuracy or completeness of any information in a consumer credit report furnished by the consumer credit reporting agency by contacting that agency directly.
An applicant, if married, may apply for a separate account / credit.
IT IS ILLEGAL TO DISCRIMINATE IN THE PROVISION OF OR IN THE AVAILABILITY OF FINANCIAL ASSISTANCE BECAUSE OF THE CONSIDERATION OF:
Website: https://www.dre.ca.gov/
Acknowledgement of Receipt of this Notice is provided to you when you submit a request, but you are encouraged to retain a copy of this information for your records.
PLEASE PRINT AND RETAIN A COPY OF THIS INFORMATION AND AGREEMENT FOR YOUR RECORDS.
