Department of Financial Institutions Interest Rate Lock Agreement

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1 Department of Financial Institutions Interest Rate Lock Agreement The loan originator/lender must complete this Agreement and provide it to the borrower(s) within three (3) business days, including Saturdays, of locking an interest rate. I/We have chosen TO LOCK the interest rate and terms of our loan. This Agreement is guaranteed / is not guaranteed by Name of Company offering lock-in agreement. The cost of the interest rate lock and the terms and conditions of the loan are detailed below: Property Address City State Zip TERMS: Loan Amount: $ Loan Program: (i.e. 30 yr fixe, 5/1 ARM, etc) Interest Rate: % Lock-in Fee: Lock Date: Lock Days (#): Lock-in Expiration Date: (mm/dd/yyyy) Other terms/conditions: ADJUSTABLE RATE MORTGAGE TERMS (skip section if not applicable): (mm/dd/yyyy) Index Type: Index: Margin: % Maximum Possible Interest Rate: % Date of First Interest Rate Adjustment (mm/dd/yyyy): CONDITIONS: REFUND OF LOCK-IN FEE: Your lock-in fee is is not refundable. If refundable, see conditions below. Conditions for refund of the lock-in fee: I/We understand and agree to the terms contained in this Interest Rate Lock Agreement. Loan Originator / MLO# Mortgage Company Date

2 Washington State Model Disclosure Form revised 1/27/16 This disclosure form is designed to conform to the requirements of the Washington State Mortgage Broker Practices Act, chapter RCW ( Act ). Every contract between a mortgage broker and a borrower shall be in writing and shall contain the entire agreement of the parties. See RCW For your own protection, please note that verbal understandings, and documents not signed and dated by both parties, may not be enforceable under the Act. In addition to this Disclosure Form requirement, you may have to provide a separate Rate Lock Agreement. See RCW and WAC This form contains specific disclosures required under state law. In addition, other disclosures are required under federal law and regulation. The Loan Estimate (LE) or Good Faith Estimate (GFE) and Truth-in-Lending Disclosure Statement (TIL) are disclosures required under both state and federal law. The LE or GFE and TIL reflect the cost of your loan transaction based on estimates prepared in good faith by your mortgage loan originator. While those disclosures detail the best estimate of the costs you will likely incur, the accuracy may be limited by actual third party charges or deviations from the original loan request. If the loan fees change, in addition to providing a revised LE or GFE and TIL, under state law mortgage brokers must provide a clear written explanation of the fee and the reason for charging a fee exceeding that which was previously disclosed. See RCW (4). If your closing costs on the final settlement statement or closing disclosure, excluding prepaid escrowed costs of ownership, do not exceed the total closing costs on the most recent LE or GFE and TIL, no other state law disclosure is required, but a federal law disclosure may still be required. See RCW (4). If your loan has a variable rate, you will receive additional federal disclosures regarding the circumstances under which the rate may increase, any limitation on the increase, the effect of an increase, and an example of the payment terms resulting from an increase. See 12 CFR (b). FUNDS TO BE HELD IN TRUST Pursuant to RCW , any moneys provided by you to us for the payment of third party provider services (such as appraisals) are held in a trust account, and any moneys remaining after payment to third party providers will be refunded to you. Name of mortgage broker I/We have read and understand this disclosure of Funds Held in Trust. has has not requested funds for payment of third parties. CERTAIN REPORTS AVAILABLE Pursuant to RCW (2)(d), if you are unable to obtain a loan for any reason, we will, within five (5) days of a written request by you, give copies to you of any appraisal, title report, or credit report paid for by you, and transmit the original appraisal, title report, or credit report to any other mortgage broker or lender to whom you direct. Transmission of these reports includes the rights to use these reports, although in certain cases a new appraisal may be required. You may send such written request to: Name of mortgage broker Address of mortgage broker City State Zip I/We have read and understand this disclosure of Certain Reports Available.

3 C2 Financial Corp Vista Sorrento Pkwy#200 San Diego, CA 92121

4 DISCLOSURE SUMMARY FIXED RATE LOAN (This is not a loan commitment. The information below reflects estimates.) Date / / Initial Revised Borrower(s): Property Address: Mortgage Term: Loan Amount: $ Interest Rate: % Principal & Interest Payment: $ per month Monthly Reserves: If these amounts are not included in your monthly payment, you must pay them yourself. Are Are not Added for Real Estate Taxes Homeowners / Hazard Insurance Mortgage Insurance Homeowners Association Dues Originator/Broker/Discount Fees: Loan Origination Fee: $ Broker Fee: $ Loan Discount Fee (Points: %): $ Other Fees: $ Other conditions of your loan: Yes No Your loan has a penalty if you pay off your mortgage early. Your loan has a balloon payment. Your interest rate is locked. Your interest rate or fees are higher because documentation is reduced. Your broker will receive a yield spread premium of $.* * Yield spread premium or YSP means a payment from a lender to a broker related to the interest rate of your loan. A yield spread premium can be a useful means to pay some or all of your settlement costs. Rev. 11/04/08 IF YOU NEED HELP UNDERSTANDING YOUR LOAN, CONTACT DFI AT

5 DISCLOSURE SUMMARY VARIABLE RATE LOAN (This is not a loan commitment. The information below reflects estimates.) Date / / Initial Revised Borrower(s): Property Address: Mortgage Term: Loan Amount: $ Monthly Interest Rates & Principal & Interest Payments: Rate Payment Date of First Interest Rate Adjustment: Initial % $ Fully Indexed: % $ Maximum: % $ Monthly Reserves: If these amounts are not included in your monthly payment, you must pay them yourself. Are Are not Added for Real Estate Taxes Homeowners / Hazard Insurance Mortgage Insurance Homeowners Association Dues Originator/Broker/Discount Fees: Loan Origination Fee: $ Broker Fee: $ Loan Discount Fee (Points: %): $ Other Fees: $ Other conditions of your loan: Yes No Your loan has a penalty if you pay off your mortgage early. Your loan has a balloon payment. Your interest rate is locked. Your interest rate or fees are higher because documentation is reduced. Your broker will receive a yield spread premium of $.* * Yield spread premium or YSP means a payment from a lender to a broker related to the interest rate of your loan. A yield spread premium can be a useful means to pay some or all of your settlement costs. Rev. 11/04/08 IF YOU NEED HELP UNDERSTANDING YOUR LOAN, CONTACT DFI AT

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