Broker Services and Compensation Disclosure

LegacyFirst Mortgage is a broker division of First Bank. When LegacyFirst Mortgage acts as a mortgage broker, it assists you in obtaining mortgage financing from a third-party lender. LegacyFirst Mortgage does not make the loan or make the final underwriting decision. The lender selected for your transaction is responsible for underwriting, approving, and funding the mortgage loan.

What Does a Mortgage Loan Officer Do for the Compensation Received?

When acting as a mortgage broker, your LegacyFirst Mortgage Loan Officer performs mortgage loan origination and brokerage services throughout the loan process. Compensation paid to LegacyFirst Mortgage and/or the Mortgage Loan Officer is for the mortgage brokerage services provided in connection with your loan transaction.

These services may include:

• Taking your mortgage loan application and gathering the information needed to submit your application to a lender.
• Completing and compiling your loan application and required documentation.
• Explaining the mortgage disclosures.
• Reviewing your income, debts, assets, and other financial information to help determine the loan amount for which you may qualify.
• Educating you about the home-buying and financing process.
• Discussing available loan products and helping you understand differences in interest rates, closing costs, monthly payments, and other loan terms.
• Collecting financial documents and other information required for the application.
• Initiating or ordering employment and deposit verifications.
• Initiating or ordering mortgage and other loan verifications.
• Initiating or ordering an appraisal when required.
• Providing disclosures required by applicable law.
• Assisting you in understanding and addressing credit-related issues.
• Communicating with you, your real estate agent, and the lender throughout the loan process to provide status updates and obtain additional information.
• Initiating or ordering title reports and other legal or loan-related documents.
• Reviewing the information provided in your application and helping ensure the application is complete and complies with applicable requirements.
• Assisting with the coordination of the loan through underwriting and closing.
• Performing other mortgage brokerage or origination services that may be necessary for your particular loan transaction.

Broker Compensation

LegacyFirst Mortgage may receive compensation for the brokerage and mortgage loan origination services it provides in connection with your mortgage loan. The compensation may be paid by you, the lender, or another permitted source, as disclosed in your loan documents.

The compensation received by LegacyFirst Mortgage is for the goods, services, facilities, and mortgage loan origination services actually provided in connection with your loan transaction. LegacyFirst Mortgage will not receive duplicate compensation for the same goods, services, or facilities.

Any broker compensation and applicable fees or charges are subject to applicable federal and state law and will be disclosed as required.

Our Role as Your Mortgage Broker

As your mortgage broker, LegacyFirst Mortgage's role is to assist you with the mortgage financing process and submit your application to a lender. We will work with you to gather information, identify available financing options, facilitate the application process, and assist with communication and documentation through closing.

LegacyFirst Mortgage is not the lender for a brokered loan. The lender makes the final decision regarding whether to approve or deny your loan application and determines the terms under which the loan is offered.