Terms and Conditions

By accessing this website or submitting a loan application, you agree to comply with and be bound by these Terms and Conditions and all applicable federal and state laws. Mortgage Depot reserves the right to modify these terms at any time without prior notice.

Mortgage Depot (NMLS #2148818) is a licensed mortgage broker that connects borrowers with lending institutions. We provide mortgage consultation, loan origination, and related financial services. We do not guarantee loan approval, specific interest rates, or specific loan terms, as all final decisions rest with the lending institution.

To use our services, you must:

• Be at least 18 years of age.
• Be a legal resident or citizen of the United States.
• Provide accurate, current, and complete information during the application process.
• Have the legal capacity to enter into a binding contract.

You agree to provide truthful, accurate, and complete information in all loan applications and communications with Mortgage Depot. Providing false or misleading information is a violation of federal law and may result in denial of your application, termination of services, and potential legal action.

Submission of a loan application does not constitute a commitment to lend or a guarantee of loan approval. Loan approval is subject to credit review, income verification, property appraisal, and lender underwriting guidelines. Mortgage Depot makes no warranties regarding the outcome of any loan application.

Factors Affecting Loan Approval: Loan approval decisions are made by the lending institution based on various factors, including but not limited to:

• Credit history and credit score
• Debt-to-income ratio
• Employment history and income stability
• Property value and condition (determined by appraisal)
• Down payment amount and source of funds
• Loan-to-value ratio
• Compliance with lender-specific underwriting guidelines

Changes in your financial situation, employment status, or creditworthiness between application submission and loan closing may affect your eligibility. You are required to notify us immediately of any material changes to your financial circumstances.

All applicable fees, costs, and charges associated with your mortgage will be disclosed to you in accordance with the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA). You will receive a Loan Estimate detailing all costs prior to proceeding with your application.

Typical Fees and Costs May Include:

• Origination Fees: Fees charged by the lender for processing your loan application.
• Appraisal Fees: The cost of a professional property appraisal required by the lender.
• Credit Report Fees: The cost of obtaining your credit report from one or more credit bureaus.
• Title Insurance and Title Search: Fees for title examination and insurance to protect against title defects.
• Attorney Fees: Legal fees for reviewing loan documents and facilitating the closing process (if applicable in your state).
• Closing Costs: Various fees associated with finalizing the loan, including recording fees, transfer taxes, and escrow fees.
• Prepaid Items: Upfront payment of property taxes, homeowners insurance, and mortgage insurance (if applicable).
• Discount Points: Optional fees paid to reduce your interest rate (if elected).

You will receive a Loan Estimate within three business days of submitting your application, as required by RESPA. This document provides a detailed breakdown of estimated costs. You will also receive a Closing Disclosure at least three business days before your loan closing, which outlines the final costs.

Comparison Shopping: We encourage you to compare loan offers from multiple lenders. The Loan Estimate is designed to facilitate easy comparison of loan terms and costs.

Non-Refundable Fees: Certain fees, such as appraisal and credit report fees, may be non-refundable if you decide not to proceed with the loan after these services have been performed. This will be clearly disclosed to you.

All content on this website, including text, graphics, logos, images, and software, is the property of Mortgage Depot and is protected by applicable copyright and trademark laws. You may not reproduce, distribute, or create derivative works without our express written permission.

Our website may contain links to third-party websites for your convenience. Mortgage Depot does not endorse or assume responsibility for the content, privacy practices, or services of any third-party sites. Accessing third-party links is at your own risk.

To the fullest extent permitted by law, Mortgage Depot shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising from your use of our services or website, including but not limited to:

• Loss of profits, revenue, or business opportunities
• Loss of data or information
• Costs of obtaining substitute services
• Emotional distress or reputational harm
• Delays in loan processing due to third-party actions or circumstances beyond our control

Our total liability to you for any claims arising out of or related to these Terms and Conditions or our services shall not exceed the total fees paid by you to Mortgage Depot for the specific service giving rise to the claim.

Website Availability: We strive to maintain continuous availability of our website, but we do not guarantee uninterrupted access. Our website may be temporarily unavailable due to maintenance, technical issues, or circumstances beyond our control. We are not liable for any losses or damages resulting from website downtime.

Information Accuracy: While we make every effort to provide accurate and up-to-date information on our website, we do not warrant the completeness or accuracy of any content. Interest rates, loan terms, and program availability are subject to change without notice. Always verify current rates and terms with a loan officer before making any financial decisions.

You agree to indemnify, defend, and hold harmless Mortgage Depot, its officers, directors, employees, and agents from and against any claims, liabilities, damages, losses, and expenses arising out of your use of our services or violation of these Terms and Conditions.

These Terms and Conditions shall be governed by and construed in accordance with the laws of the State of Michigan, without regard to its conflict of law provisions. Any disputes arising under these terms shall be subject to the exclusive jurisdiction of the courts located in Oakland County, Michigan.

Your use of our services is also governed by our Privacy Policy, which is incorporated into these Terms and Conditions by reference. Please review our Privacy Policy to understand our data collection, use, and protection practices.

Consent to Data Processing: By using our services, you consent to the collection, processing, and storage of your personal and financial information as described in our Privacy Policy. This includes:

• Collection of personal identification and financial data
• Sharing of information with lending partners and service providers
• Credit inquiries that may appear on your credit report
• Use of cookies and tracking technologies on our website
• Receipt of account-related communications via email, phone, or SMS

Credit Authorization: By submitting a loan application, you authorize Mortgage Depot and its lending partners to obtain your credit report from one or more credit bureaus. This authorization remains valid throughout the application process and for any refinancing or modification of your loan.

Fair Credit Reporting Act (FCRA) Disclosure: Under the FCRA, you have the right to obtain a copy of your credit report and dispute any inaccuracies. If your loan application is denied based on information in your credit report, you will receive an Adverse Action Notice explaining the reasons for denial and your rights under the FCRA.

By providing your contact information, you consent to receive account notifications and customer care text messages. We comply with all applicable messaging regulations, including 10DLC registration requirements for business messaging.

• SMS Consent Communication: The information (phone numbers) obtained as part of the SMS consent process will not be shared with third parties for marketing purposes.
• Types of SMS Communications: If you have consented to receive text messages from Mortgage Depot LLC, you may receive messages related to the following: Account Notifications and Customer Care Messages.
  Example: "Hello, we received your online inquiry and see you were interested in financing options. What were you interested in getting done? Reply STOP to opt out of SMS messaging at any time."
• Message Frequency: Message frequency may vary depending on the type of communication.
  Example: "Message frequency may vary. You may receive up to 3 SMS messages per week regarding your mortgage inquiry."
• Potential Fees for SMS Messaging: Please note that standard message and data rates may apply, depending on your carrier's pricing plan. These fees may vary if the message is sent domestically or internationally.
• Opt-In Method: You may opt-in to receive SMS messages from Mortgage Depot LLC in the following ways:
  • By submitting the form on our Contact Us page.
• Opt-Out Method: You may opt out of receiving SMS messages at any time. To do so, simply reply "STOP" to any SMS message you receive. Alternatively, you can contact us directly to request removal from our messaging list or click the unsubscribe link (where available).
• Help: If you are experiencing any issues, you can reply with the keyword HELP. Or, you can get help directly from us at info@mymtgdepot.com.
• Additional Options: If you do not wish to receive SMS messages, you can choose not to check the SMS consent box on our forms.

Data Privacy: We do not sell or share your contact details with third parties for marketing purposes without your consent. For more details, please review our Privacy Policy.

Informal Dispute Resolution: If you have any dispute or claim arising out of or relating to these Terms and Conditions or our services, you agree to first attempt to resolve the dispute informally by contacting us at the information provided below. We will work with you in good faith to reach a mutually satisfactory resolution.

Arbitration Agreement: If we cannot resolve a dispute informally within 60 days, you agree that any dispute, claim, or controversy arising out of or relating to these Terms and Conditions or our services shall be resolved through binding arbitration, rather than in court, except that:

• You may assert claims in small claims court if your claims qualify; and
• Either party may seek injunctive or other equitable relief in court to prevent infringement of intellectual property rights.

The arbitration will be administered by the American Arbitration Association (AAA) under its Consumer Arbitration Rules. The arbitration will take place in Oakland County, Michigan, or another mutually agreed-upon location. The arbitrator's decision will be final and binding, and judgment on the award may be entered in any court of competent jurisdiction.

Class Action Waiver: You and Mortgage Depot agree that any dispute resolution proceedings will be conducted only on an individual basis and not as a class, consolidated, or representative action. Neither party may bring a claim on behalf of other individuals or entities.

Exceptions: This arbitration agreement does not apply to disputes that are required by law to be resolved in a specific manner, such as claims brought before regulatory agencies or disputes involving mortgage foreclosure proceedings.

Mortgage Depot is licensed and regulated by state and federal authorities. Our lending activities comply with:

• Real Estate Settlement Procedures Act (RESPA): We provide required disclosures about loan costs and settlement services.
• Truth in Lending Act (TILA): We disclose the terms and costs of credit in a clear and standardized format.
• Equal Credit Opportunity Act (ECOA): We do not discriminate on the basis of race, color, religion, national origin, sex, marital status, age, or receipt of public assistance.
• Fair Housing Act: We comply with federal fair housing laws and provide equal housing opportunities to all applicants.
• Home Mortgage Disclosure Act (HMDA): We collect and report data on mortgage applications as required by law.
• Gramm-Leach-Bliley Act (GLBA): We protect the privacy and security of your financial information.
• State Licensing Requirements: We maintain appropriate licenses in all states where we conduct business.

NMLS Information: Mortgage Depot is licensed under NMLS #2148818. You can verify our licensing status and review any regulatory actions at the Nationwide Multistate Licensing System Consumer Access website: www.nmlsconsumeraccess.org.

If any provision of these Terms and Conditions is found to be invalid, illegal, or unenforceable by a court of competent jurisdiction, the remaining provisions shall continue in full force and effect. The invalid provision shall be modified to the minimum extent necessary to make it valid and enforceable while preserving the intent of the original provision.

These Terms and Conditions, together with our Privacy Policy and any other documents incorporated by reference, constitute the entire agreement between you and Mortgage Depot regarding your use of our website and services. These terms supersede all prior or contemporaneous communications, agreements, or understandings, whether written or oral, relating to the subject matter herein.

No modification or amendment to these Terms and Conditions shall be effective unless made in writing and signed by an authorized representative of Mortgage Depot. Our failure to enforce any provision of these terms shall not constitute a waiver of that provision or any other provision.

Mortgage Depot shall not be liable for any failure or delay in performing its obligations under these Terms and Conditions due to circumstances beyond its reasonable control, including but not limited to:

• Acts of God, natural disasters, or severe weather
• War, terrorism, civil unrest, or government actions
• Pandemics, epidemics, or public health emergencies
• Labor strikes or disputes
• Internet or telecommunications failures
• Third-party service provider failures or delays

In the event of a force majeure occurrence, we will make reasonable efforts to resume normal operations as soon as practicable and will communicate with you regarding any significant delays in processing your loan application.

You may not assign or transfer these Terms and Conditions or your rights and obligations hereunder without our prior written consent. Mortgage Depot may assign these terms, in whole or in part, to any affiliate, successor, or third party in connection with a merger, acquisition, reorganization, or sale of assets without your consent. These terms shall be binding upon and inure to the benefit of the parties and their respective successors and permitted assigns.

By submitting a loan application, using our website, or otherwise engaging with our services, you acknowledge that you have read, understood, and agree to be bound by these Terms and Conditions. You represent and warrant that you have the legal authority to enter into this agreement and that all information you provide is accurate and complete.

If you do not agree to these Terms and Conditions, you must immediately cease using our website and services and refrain from submitting any loan applications or personal information to Mortgage Depot.

If you have any questions about these Terms and Conditions, please contact us: