Each applicant specifically acknowledges and agrees that:
1) the loan requested by this pre-qualification will be secured by a first or second mortgage or deed of trust on the property described herein;
2) all statements made in this pre-qualification are made for the purpose of obtaining the loan indicated herein
3) occupancy of the property will be as indicated above
4) verification or reverification of any information contained in the pre-qualification may be made at any time by the Lender, its agents, successors and assignees, either directly or through a credit reporting agency, from any source named in this pre-qualification, and the original copy of this pre-qualification will be retained by the Lender, even if the loan is not approved
5) the Lender, its agents, successors and assignees will rely on the information contained in the pre-qualification and I/we have a continuing obligation to amend and/or supplement the information provided in this pre-qualification if any of the material facts which I/we have represented herein should change prior to closing
6) ownership of the loan may be transferred to successor or assignees of the Lender without notice to me and/or the administration of the loan account may be transferred to an agent, successor or assignees of the Lender prior notice to me
7) the Lender, its agents, successors and assignees make no representations or warranties, express or implied, to the Borrower(s) regarding the property, the condition of the property, or the value of the property.
Certification
I/We certify that the information provided in this pre-qualification is true and correct as of the date submitted and acknowledge my/our understanding that any intentional or negligent misrepresentation(s) of the information contained in this pre-qualification may result in civil liability and/or criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section 10001, et seq. a liability for monetary damages to the Lender, its agents, successors and assignees, insurers and any other person who may suffer any loss due to reliance upon any misrepresentation which I/we have made on this pre-qualification.
