Cliffco Mortgage Bankers, your Long Island mortgage banker, has been lending responsibly more than 25 years, delivering accurate information and making the process of how to get a mortgage loan easy for our customers. We pride ourselves with being fully transparent and compliant with the new stricter federal regulations for the home loans process by implementing our own internal policies.
SAFE Act Licensed
The government has enacted a new federal licensing requirement known as the SAFE Act, which establishes minimum standards for licensing and registration of loan originators in order to enhance consumer protection. All of our mortgage bankers are SAFE Act licensed and registered, and we’re compliant with all federal and state licensing and lending policies.
Good Faith Estimate (GFE)
The New federal regulations require lenders to provide customers a standardized Good Faith Estimate (GFE) when disclosing rate and fees. The old GFE was just a best-effort estimate. The new and improved GFE is designed to make all lenders conform to a standardized document guaranteeing that third-party services lenders quote upfront are within a 10 percent tolerance of the actual fees at closing.
If a lender or broker you’re considering is unwilling or unable to provide what is now lawful practice, then we encourage you to move on and do business with a fully compliant lender.
Call Cliffco Mortgage Bankers today at (516) 408-7300 or email firstname.lastname@example.org. Our loan experts can help you achieve your dream of home ownership, and answer any and all questions you might have about the loan process, guiding you every step of the way. We look forward to hearing from you!