Upfront Mortgage Lender Requirements

National Mortgage Alliance believes in treating all borrowers fairly and providing the most accurate and up to date information for our customers. As part of this commitment, we are proud to have been awarded certification as an Upfront Mortgage Lender (UML).

UMLs provide their customers with the tools they need to make an informed decision about which mortgage product best meets their personal financial needs. To learn more about the UML program, please visit the Mortgage Professor web site at http://www.mtgprofessor.com.

To receive certification as an Upfront Mortgage Lender, National Mortgage Alliance has met the following requirements:

Requirement 1: A UML Provides Quick Access to the Market Niches it Prices Online.

National Mortgage Alliance prices a large number of loan products online. When a borrower searches rates, all available loan products are presented for the type of loan chosen. Please click the link below for an example of how our proprietary rate search engine presents customized pricing to borrowers. http://www.nationalmortgagealliance.com/purchase.aspx

Requirement 2: A UML discloses all lender fees, including points, origination fees, and any fixed-dollar fees, and guarantees them to closing.

National Mortgage Alliance discloses our lender fees to customers, during the rate quote process. We provide a single, guaranteed lender fee with no points or origination fees. This information can be viewed by clicking on the "Closing Costs" button on the rate quote results page.

Our lender fees are guaranteed at the time a rate is locked, through our "No Surprises" Fee Guarantee

Requirement 3: A UML discloses all third party fees with the best estimates possible, indicating which if any are guaranteed by the UML

National Mortgage Alliance discloses estimated 3rd party fees to customers during the rate quote process. These fees can be viewed by simply clicking on the "Closing Costs" button on the rate quote results page.

We do not guarantee 3rd party fees, but provide the most accurate estimates possible to avoid any surprises at closing.

Requirement 4: A UML Provides a Clear Explanation of its Lock Requirements.

Borrowers can lock their rate at the end of the online application process. Details on our rate lock policy can be found at Rate Lock Explained and Rate Lock Commitment

Requirement 5: A UML discloses all the information about ARMs needed by shoppers to make intelligent decisions.

We provide mortgage calculators for borrowers, including an ARM calculator:
Adjustable Rate Mortgage Calculator

We also provide links to general information on ARMs, including the Consumer Handbook On Adjustable Rate Mortgages (Federal Reserve Board) available on our Disclosures page at http://www.nationalmortgagealliance.com/disclosures.aspx

Details on the Index, Interest Rate, Rate Discount and Adjustments are provided to borrowers online during the rate search process by clicking the "ARM Details" button on the rate search results page.

The Mortgage Professor's list of ARM features required to make an informed decision is shown in Information Needed to Evaluate an ARM.

Requirement 6: An Upfront Mortgage Lender (UML) informs borrowers if its loan officers are compensated in a way that gives them a financial incentive to overcharge the borrower.

Loan Officers at National Mortgage Alliance are not compensated on the rates, points or fees paid by a borrower and they have no financial incentive to overcharge the borrower. National Mortgage Alliance Loan Officers are motivated to help customers find the best loan for their personal financial situation.