Disclosures and Licenses
Updated April 18, 2016
LowestRatesToday (Pinnacle Consulting Services LLC) is not a loan provider but only matches you with lenders that may extend a loan to you. All loan decisions and terms are determined by the lenders based on your loan request, your financial history, and other criteria determined by the lenders. We do not guarantee that you will be matched with any lenders, that you will qualify for a loan or the rates and terms of the loan that may be offered to you.
Pinnacle Consulting Services LLC will forward the information you provide to certain Lenders. These Lenders must make certain disclosures to you as required by the Federal Truth In Lending Act (TILA), the Real Estate Settlement Procedures Act (RESPA) and other federal and state laws. These disclosures include details of your cost of credit, good faith estimates of your settlement costs, certain HUD mandated booklets, notice that your mortgage loan servicing may be transferred and your right to a copy of any appraisal performed on your home. The Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of the applicant's income derives from any public assistance program, or because the applicant has, in good faith, exercised any right under the Consumer Credit Protection Act. The Federal Trade Commission administers compliance with these laws and may be contacted at: The Federal Trade Commission, Equal Credit Opportunity, Washington, D.C. 20580. The foregoing requirements are mandatory for Lenders, however Pinnacle Consulting Services makes no representations as to the adequacy or compliance on behalf of any Lender.
State Disclosures and License Information
Certain States may require Pinnacle Consulting Services to obtain a license in order to provide these services within their state. Other States may not. Some States may require additional information disclosures be given to you in connection with the provision of these services. Pinnacle Consulting Services reserves the right to refuse to accept or use the information you provide if such acceptance or use would constitute a violation of law or the terms and conditions of use for the GTL site www.guidetolenders.com. The following statements provide information that may be applicable to you if you reside in, or are considering the purchase of property in one of the listed States.
State mortgage regulators launched the Nationwide Mortgage Licensing System (“NMLS”) in January, 2008 to provide centralized and standardized online license management. The process of transitioning each state’s mortgage licensees to the NMLS has continued since the launch with the assignment of Unique Identification Numbers to facilitate licensee oversight and accountability. More information about the NMLS is available at www.stateregistry.org.
The Unique Identification Number assigned to Pinnacle Consulting Services, Inc. is 1441119.
Alabama Mortgage Broker License No. 22225
Arizona Mortgage Broker License No. MB 0934008
In California, LRT marketplace services are provided exclusively by Pinnacle Consulting Services CA, Inc. pursuant to agreements with Pinnacle Consulting Services. Pinnacle Consulting Services CA, Inc. is a Licensed Real Estate Broker. License Number 1527352. You may call the California Department of Real Estate at 916.227.0931
Pinnacle Consulting Services CA, Inc. does not make mortgage loans or commitments.
If the information you submit is forwarded to a Lender and that Lender subsequently makes you an offer, then Lender must provide to you a good faith estimate required under RESPA and an initial disclosure statement required under TILA within three business days from the date you submit an application with the Lender.
If the Lender denies your request for credit, and that action is based in whole or in part on any information contained in a consumer credit report, you have the right to obtain, within sixty days, a free copy of your consumer credit report from the credit reporting agency which compiles and maintains files on consumers on a nationwide basis. You also have the right to dispute the accuracy or completeness of any information in a consumer credit report furnished by the consumer credit reporting agency by contacting that agency directly.
An applicant, if married, may apply for a separate account.
Mortgage Fee Disclosure
Pinnacle Consulting Services CA Inc. will receive a fee of between $4.00 and $200.00 from potential and actual Lenders for its services.
Pinnacle Consulting Services CA Inc. will receive these fees whether or not you close your loan with any specific Lender. This amount is the total amount Pinnacle Consulting Services CA Inc. receives, and Lenders pay this fee directly to Pinnacle Consulting Services CA Inc. outside of closing. You, the consumer, acknowledge that these fees will be paid to Pinnacle Consulting Services CA Inc. outside of closing, and that there is no other mortgage broker fee agreement between us.
The Housing Financial Discrimination Act of 1977 Fair Lending Notice It is illegal to discriminate in the provision of or in the availability of financial assistance because of the consideration of:
a. Trends, characteristics or conditions in the neighborhood or geographic area surrounding a housing accommodation, unless the financial institution can demonstrate in the particular case that such consideration is required to avoid an unsafe and unsound business practice; or
b. Race, color religion, sex, marital status, national origin or ancestry.
It is illegal to consider the racial, ethnic, religious or national origin composition of a neighborhood or geographic area surrounding a housing accommodation or whether or not such composition is undergoing change, or is expected to undergo change, in appraising a housing accommodation or in determining whether or not, or under what terms and condition, to provide financial assistance.
These provisions govern financial assistance for the purpose of the purchase, construction, rehabilitation or refinancing of one-to-four unit family residence occupied by the owner and for the purpose of the home improvement of any one-to-four unit family residence.
If you have any questions about your rights, or if you wish to file a complaint, contact the management of this institution or:
Bureau of Real Estate
1651 Exposition Blvd.
Sacramento, CA 95815
Department of Business Oversight
320 West 4th Street
Los Angeles, CA 90013-1105
Mortgage Broker License No. MBR1991
This disclosure is written to give you notice that LowestRatesToday does not originate mortgage loans or commitments. Although LowestRatesToday will forward your loan request to its participating lenders, LowestRatesToday does not guarantee acceptance into any particular loan program.
Should you choose to apply for a mortgage loan with a participating lender, that lender will provide you with a Good Faith Estimate itemizing fees, including loan origination and/or other settlement service fees. The documentation you receive will also include information on whether any fees paid are refundable.
YOU ARE NOT REQUIRED TO PURCHASE ADDITIONAL PRODUCTS OR SERVICES FROM LOWESTRATESTODAY OR FROM ANY PERSON OR ENTITY SUGGESTED OR RECOMMENDED BY LOWESTRATESTODAY. HOWEVER, LOWESTRATESTODAY RESERVES THE RIGHT TO APPROVE THE ENTITY SELECTED BY YOU, WHICH APPROVAL MAY NOT BE UNREASONABLY WITHHELD.
A LENDER IS ALLOWED TO REQUIRE THE USE OF AN ATTORNEY, CREDIT REPORTING AGENCY OR REAL ESTATEAPPRAISER CHOSEN TO REPRESENT THE LENDER’S INTEREST.
Georgia Mortgage Broker/Processor License No. 49602
Maryland Mortgage Lender, License No. 55548
Pinnacle Consulting Services will not seek or accept fees from consumers submitting an inquiry. If the information you supply is forwarded to a potential Lender, you may be issued a Financing Agreement by Lenders in accordance with Maryland Commercial Law Code §§12-125, 1013. The Financing Agreement must contain: (1) the term and principal amount of your loan; (2) an explanation of the type of mortgage loan being offered; (3) the interest rate, and, if the rate is subject to change, or is a variable rate, or is subject to final determination at a future date based on some objective standard, a specific statement of those facts; (4) the points and fees to be paid by you and the Lender; and (5) the term in which the Financing Agreement remains in effect.
Licensed by the Pennsylvania Department of Banking as Mortgage Broker No. 21313.
CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550.
THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIALMORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.