This is to give you notice that INTROLEND, LLC UTAH (“IntroLend”), RE/MAX ASSOCIATES (“RE/MAX ”) and METRO NATIONAL TITLE ASSOCIATES, LLC (“Title Company”) each has a business relationship with the each other (collectively referred to herein as the “Related Parties”) as described in this Disclosure Statement. Because of these relationships, the referral of business to any of the companies listed below may provide us, the Related Parties noted herein and/or our investors, a financial or other benefit.
In connection with the purchase of this property, you may need mortgage services, real estate brokerage services, title insurance, and closing services. We recommend IntroLend for mortgage origination services. We further recommend RE/MAX and its affiliates for real estate brokerage services. We also recommend the Title Company for title insurance and transaction closing services. RE Broker’s affiliated real estate agents or brokers own Associates Investment Group, LLC (“AIG”) which owns 100% of Introlend, LLC Utah. In addition, and as a result of the passing of SB 121 by the Utah State Legislature in May 2019, RE/MAX and AIG own approximately 49% of the Title Company.
IntroLend is a mortgage broker and performs mortgage origination services. IntroLend also utilizes other mortgage lenders or mortgage brokers that are members of its lending network. The estimated lender fees listed below can vary and could include additional charges depending upon factors such as the loan product you select and the state where the property is located. There may also be other fees/charges relating to services provided by additional third party settlement service providers. The estimated charges, if any, for the settlement services provided by IntroLend are detailed on the Loan Estimate being provided to you by your lender. However, none of the
RE/MAX is a real estate brokerage. The estimated fees and commissions listed below can vary on a number of factors, such as the type of property, region, market, etc.
Title Company is a title and closing service company. The estimated fees listed below can vary depending upon the purchase price of the transaction, endorsements selected by the parties, and the scope of closing and settlement services provided by the Title Company.
Set forth below is the estimated charges or range of charges for the services listed. You are not required to use the listed provider as a condition for settlement of your loan or purchase or sale of the subject property. THERE ARE FREQUENTLY OTHER SETTLEMENT SERVICE PROVIDERS AVAILABLE WITH SIMILAR SERVICES. YOU ARE FREE TO SHOP AROUND TO DETERMINE THAT YOU ARE RECEIVING THE BEST SERVICES AND THE BEST RATE FOR THESE SERVICES.
|CHARGE OR RANGE OF SERVICES
REAL ESTATE MANAGEMENT OF UTAH, LLC d/b/a RE/MAX ASSOCIATES and its affiliates:
These companies provide Real Estate Brokerage Services.
3 – 10% of sales price of the property depending on multiple factors including type of property, transaction side, services, region and transaction structure. However, commissions vary per agreement with each customer and may be negotiated, in whole or in part, as fixed amounts, such as a fixed amount in lieu of all or part of a percentage, or an amount such as $100 – $1000 in addition to a percentage.
In addition, referral commissions vary, but are generally paid by a real estate broker as a percentage (approximately 25% – 50%) of the real estate broker’s commission on a transaction side.
INTROLEND, LLC UTAH:
IntroLend provides mortgage origination services
IntroLend performs mortgage origination services on behalf of its affiliated Member Lenders and/or Mortgage Brokers, including taking borrower applications, verifying information, etc.
The Member Lenders and Mortgage Brokers have agreed to pay a fee ranging from 0.25% to 2.5% of the loan amount to IntroLend in connection with a range of loan origination services provided by IntroLend to the Member Lender/Mortgage Broker. The fees are paid directly to IntroLend by the Member Lender/Mortgage Broker and NOT BY YOU.
In the event IntroLend is your Mortgage Lender, the fees referred to in the next section may apply.
**NONE OF THE ORIGINATION SERVICES TO BE PERFORMED BY IntroLend™ WILL REQUIRE PAYMENT BY YOU**
Various Member Mortgage Lenders and/or Mortgage Brokers:
These Lenders and Mortgage Brokers provide a full range of residential first mortgage loan products and services.
Loan Origination Charge 0 – 3.00% of loan amount (may include 3rd party fees)
Loan Discount Fee/points 0 – 5% of loan amount
Application/Processing Fee $0.00 – $875.00
Flood and tax service: $0.00 – $95.00
Underwriting Fee: $0.00 – $995.00
Document Review Fee: $0.00 – $500.00
Appraisal Fee: $0.00 – $650.00
Credit Report Fee: $0.00 – $65.00
Actual charges may vary according to Lender selected by the borrower, the particular circumstances of the underlying transaction, Borrower elections, etc. Some or all of these fees may be incurred by third-parties of the Member Mortgage Lender/Mortgage Broker.
The loan discount fee/points are affected by the note rate. Depending upon market conditions, the loan discount fee/points may be higher to adjust for below-market rates.
2 There are other charges imposed in connection with mortgage loans. In addition, a lender may require the use of other service providers, including but not limited to any attorney, credit reporting agency or real estate appraiser chosen to represent the lender’s interest. If you apply to any of these companies for a loan, you will receive additional information regarding anticipated charges.
The Member Lenders and Mortgage Brokers have agreed to pay a fee ranging from 0.5% to 2.0% of the loan amount to IntroLend in connection with a range of loan origination services provided by IntroLend to the Member Lender/Mortgage Broker. The fees are paid directly to IntroLend by the Member Lender/Mortgage Broker and NOT BY YOU.
In the event IntroLend is your Mortgage Lender, the fees referred to hereinabove for Member Lenders or Member Brokers may apply.
METRO NATIONAL TITLE ASSOCIATES, LLC:
This company provides title, closing and escrow services
Settlement Fee: $375.00
Recon Tracking Fee: $95.00/each
Owner’s Policy: $TBD
Other fees may be charged as is customary in the title industry.