Loading...
HomeMy WebLinkAboutLoan Closing Instructions (Copy) . ..4rax: /bua l t5atuy Apr LU ZUU/ I b:4/ N. U4 _ '-'11r. �' lif Loan-Closing Instructions To ' CUESTA TITLE 502 HIGUERA STREET SAN LUIS OBISPO, CA 93401 . From Dale • ANNETTE . COPPA 04/20/07 . Telephone Number FAX Number 1-800-707-8652 1-760-603-7082 Loan Number Case Number Escrow Number 0159217728 clos(ng Date Disbursement Date Commitment Expiration Date Interest Rate Expiration Date • 04/20/07 04/25/07 05/23/07 44/30/07 Lender WELLS PARGO BANK, N.A. Uorrower(s) • ALFONSO A VARGAS ALEdANDRA VAROAS Property Address(the...property') 252 •SOUTH COURTLAND ST ARROYO GRANDE, CA 93420 LOAN TERMS The following loan terms have been approved by the Lender. No changes are allowed. If circumstances differ from the stated terms , call the Mortgage Counselor immediately. Loan Amount Loan Term Sales Price ' $325,300.00 360 MONTHS $.00 . First Payment Data Earnest Money Maturity Date 06/01/07 05/01/37 Loan Type • Loan Purpose Secondary Financing CONVENTIONAL REFINANCE Loan Product Initial Interest Rate Initial Monthly Payment ALB26 7.250% $2,219. 12 tndex' First Change Date Margin 5.3740% 05/01/09 5.875% Maximum First interest Rate Change Maximum Periodic interest Rate Change Maximum Lifetime Interest Rate Chang; 3.0000% 1.0000% . PERTINENT ADDRESSES LENDER'S CONTACT: CONTACT: ANNETTE . COPPA, TEAM D24 PH: 800-707.8652 Ext FAX:. 760-603-7082 RETURN THIS CLOSING PACKAGE BY OVERNIGHT MAIL WITHIN 24 HOURS OF LOAN DISBURSEMENT TO: • POST CLOSING X9999-01K 2701 WELLS FARGO WAY MINNEAPOLIS, MN 55467-8000 THE HAZARD INSURANCE MORTGAGEE CLAUSE MUST READ: WELLS FARGO BANK. N.A. ITS SUCCESSORS AND/OR ASSIGNS LOAN NUMBER: 0159217728 P.O. BOX 5708 (CPI #708) SPRINGFIELD OH 45501 RETURN THE FINAL TITLE POLICY AND CERTIFIED. RECORDED DOCUMENTS TO: FINAL DOCUMENTS X9999-01M �� � ' 9NJ. 1000 BLUE GENTIAN ROAD l ASE BAGAN, MN 5 5® �T 9 ECOSEG RBV.02/04/05 • 1-4X; f0UUIOUGU Flpr to GUUi 10:41 Y. U0 Loan Closing Instructions - Page 2 CLOSING REQUIREMENTS By closing this mortgage loan, you agree to comply with all applicable federal , state and municipal laws, ordinances and regulations , and you acknowledge your warranty and responsibility to comply with all the requirements and instructions set forth in these Closing Instructions regardless of whether or not you execute the Closing Agent Certification contained herein. The following requirements must be satisfied prior to disbursement of loan proceeds . Any deviations from the requirements must be specifically approved prior to disbursement. • IDENTIFICATION OF SIGNATURES You are required to establish the identity of all parties executing closing documents. Photo identification such as a driver's Iicense, passport , or employer identification is required. • HAZARD INSURANCE At closing, the following evidence of insurance is required covering the Property: A Certificate of Insurance evidencing the master or blanket policy covering the Planned Unit Development Association and the individual PUD unit , respectively. The hazard insurance policy must be in effect on or before the date of disbursement. The amount of coverage must be 100% of the insurable value of the improvements (also called 100% Replacement Cost) , as determined by the hazard insurance provider. The insurance policy must indicate "replacement" or an equivalent statement. Separate requirements apply to condominium and cooperative units. See page 1 for the hazard insurance mortgagee clause and pertinent address . • REAL ESTATE TAXES If escrows are collected, you must provide evidence that all real estate taxes due and payable within 60 days from the date of closing, including any levied or pending special assessments that constitute a lien on the Property, have been paid in full , . TITLE REQUIREMENTS At the time of disbursement, you must provide written evidence that a binding mortgagee's policy of title insurance meeting the requirements listed below and prepared on a current ALTA form, TLTA form, or ALTA short form is or will be in force and effect as of the later of the date of disbursement or the date of recordation of the Security Instrument. Either of the following is acceptable: a binding ALTA Commitment or preliminary report prior to disbursement , together with the Policy within 30 days of disbursement; or the Policy at the time of disbursement. Return the final commitment or title policy to the address identified on Page 1 in the Pertinent Address section. You are not authorized to accept any type of indemnity or affirmative title insurance coverage over liens or encumbrances that will remain outstanding after disbursement without prior written consent specifying the exact form of such indemnity or coverage. Nevertheless., removal of exceptions for Security Instruments still of record are permitted when the removal of the exception is based on a letter of indemnity to the title insurer. The Policy must evidence the following items: • As of the effective date of the policy, the Lender has a valid, enforceable first priority lien encumbering all rights to and interests in the Property in an amount equal to or greater than the original principal balance of the Security Instrument. The name of the insured is: "WELLS FARGO BANK, N.A., its successors and/or assigns. " ECOBBL Rev 04/15/92 • rax: Iou i oo u Hpr Lu [LU/ I b:4! Y. Ub 11 NMImmimmimpOilmLoan Closing Instructions - Page 3 • The legal description of the Property which is the subject of the Policy is identical to the legal description of the Property shown in the Security Instrument. The Policy provides extended coverage with no general (or "standard" ) exceptions (preprinted or in Schedule B) for rights of parties in possession, survey matters , or statutory liens for labor, materials or service except any statutory lien for services, labor or materials (or the claim of priority of any statutory lien for services , labor or materials over the lien of the insured mortgage) arising from an improvement or work related to the land which is contracted for and commenced subsequent to Date of Policy and is not financed in whole. or in part by proceeds of the indebtedness Secured by the insured mortgage which at Date of Policy the insured has advanced or is obligated to advance. The title. insurer has agreed to delete all exceptions that will appear in Schedule B of the Policy, unless the Lender has expressly agreed to permit specific exceptions to remain or affirmative coverage is provided. All of the title insurer' s requirements for issuance of the Policy have been satisfied within the time period required in the title commitment . The Policy must include the following endorsements: ALTA Form S or CLTA Form 115.2 - Planned Unit Development • Endorsement ALTA Form 6 (or 6.1) or CLTA Form 111,5 (or 111.6) - Variable Rate Endorsement ALTA Form 8.1 or CLTA Form 110.9 - Environmental Protection Endorsement CALIFORNIA TITLE REQUIREMENTS If you are an employee or authorized and licensed title insurance agent of a licensed California title insurer, you may not provide a Preliminary Report prior to closing. You must provide an ALTA Plain Language Commitment for title insurance for an ALTA loan policy and comply with the general Title Requirements above. If you are an independent escrow company or closing agent , you may: (a) Provide the Lender with a Preliminary Report on an approved CLTA form from the title insurer (The "Insurer"). (b) Ensure that An authorized employee of the title insurer has signed the Title Insurance Certification on the last page of the Instructions. (c) Return the signed Title Insurance Certification to the Lender with the closed loan package. • SOCIAL SECURITY NUMBER PROHIBITION ON PUBLICLY-FILED DOCUMENTS Based upon new state law requirements prohibiting the use of a Social Security number on publicly-filed documents , you are hereby instructed to NOT include the borrower's Social Security number on .the Security Instrument , Note and/or any Rider that must be filed. If you have any questions regarding this instruction, please advise the 'Lender"s Contact identified on page 1. • •NOTICE OF RIGHT TO CANCEL If this is a rescindable loan transaction, a Notice of Right to Cancel is included in this package. The transaction date and, the date that the rescission period expires as shown in the Notice of Right to Cancel have been completed based on the anticipated closing date and the expiration of a three business day rescission period pursuant to federal law. In the event the transaction does not close on the anticipated transaction date, YOU MUST CHANGE BOTH THE TRANSACTION DATE AND THE RESCISSION EXPIRATION DATA to reflect the proper dates in both places and have the changes initialed by all persons who are entitled to receive the Notice of Right to Cancel , ■ RECORDING AND ACKNOWLEDGMENT REQUIREMENTS ECOBBL Rev.04/I8/02 • rax: ,buulubzub Kpr 'LU ZUU/ 11i:4G P. U/ Loan Closing Instructions - Page 4 You must ensure that all recorded documents comply with federal , state and municipal laws relating to document formatting, local verbiage and required attachments or exhibits. You are hereby authorized to substitute the appropriate Notary and/or Acknowledgment pages to ensure the documents conform to local recording requirements. ■ CALIFORNIA REQUIREMENTS You are not allowed to collect a Contingency or Padding Fee, I•f fees must be adjusted prior to or at closing, you must revise the HUD-1 Settlement Statement accordingly. • ▪ COMMITMENT LETTER CONDITIONS Evidence of satisfaction of the following Commitment Letter Conditions must be returned to the Lender with the closed loan package. 2.LENDER TO REQUEST PAYOFF OF WEELS FARGO HOME MTG #9085 GLAD SIGNED BY APPLICANT. MAX CASH OUT IS $200,000 5. APPRAISER TO PROVIDE NAME OF PUD APPLICANT TO PROVIDE CURRENT PAYOFF STATEMENTS AND CLOSING AGENT TO PAYOFF: CBUSA#0671, DSNB #3020, EMC MTG#2654, TOYOTA #9000 WELLS FARGO #9085 & ALL LIENS ON TITLE 9.ALFONSO TO SIGN LTR OF EXPLANATION RE: ADDRESS VARIATION ON 2006 W-2 (515 GRANDE AVE APT A) 11. ACCEPTABLE COPY OF SUBORDINATION AGREEMENT FROM CITY OP ARROYO CLEAR LEGIBLE COPY OF DRIVERS LICENSE TO VERIFY DATE OF BIRTH FOR ALFONSO r POWER OF ATTORNEY If the borrower(s) on this transaction will be using a Power of Attorney in accordance with applicable state laws , the Power of Attorney document must be recorded prior to the recordation of any documents executed by the attorney-in- fact. Return a copy of the executed Power of Attorney document to the Lender i•n the closed loan package. * AUTOMATIC MORTGAGE PAYMENT Automatic Mortgage Payment Authorization forms may be returned in the same envelope as the closed loan documents (if applicable). If the borrower elects to use the Automatic Mortgage Payment Program, please place the completed Authorization Form (with an attached voided check or Savings withdrawal slip) on top of the closed loan documents •when returning the package to us to facilitate the set-up process. r PRE-CLOSING HUD-1 REVIEW The closing agent must fax a copy of the final HUD-1 to the Closing Department at 760-603-7082 and receive approval to disburse the loan proceeds prior to conducting the closing of this loan. Failure to comply with this request by the time of the scheduled closing will result in funds being pulled from the table. Any changes to the HUD-1 must be initiated and approved by the Closing Department. • ECM L Rev.04/16i92 rax: /tiUUlbbLUy Apr ZU ZUU/ 16:413 P. UU 41 implimmmEW Loan Closing. Instructions - Page 6 ■ ITEMS PAYABLE IN CONNECTION WITH THE LOAN Any Origination Fee(s) listed on. HUD Line 801 must be shown on the HUD Settlement Statement as both a percentage and dollar amount . Any Discount(s) listed on HUD Line 802 must be shown on the HUD Settlement Statement as both a percentage and dollar amount. Any Mortgage Broker Compensation listed on Line 08_ must be shown on the HUD Settlement Statement as a P.O.C. from the Lender's funds. Do not collect this amount from the Buyer or Seller. Do not list this amount as a Buyer or Seller-paid item on the HUD Settlement Statement. COMPENSATION LISTED ON THE HUD-1 SETTLEMENT STATEMENT SHOULD BE IDENTIFIED AS "MORTGAGE BROKER COMPENSATION." ■ ADDITIONAL CLOSING REQUIREMENTS "'Attach Legal Description to Security Instrument. *Add loan number to any new documentation (e.g. , intervening assignments , power of attorney, etc. ) "'Copy both sides of all duplex documents (i .e. , all pages , 2 sides). • YOU ARE NOT AUTHORIZED TO DISBURSE OUR FUNDS UNTIL YOU HAVE RECEIVED AN AUTHORIZATION NUMBER FROM THE LENDER'S FUNDING DEPARTMENT. 1. CLOSING AGENT TO PROVIDE: 2 CERT COPI.ES OF ALL PAGES (2-SIDED) NOTE AND SECURITY INSTRUMENT; CERT. COPY OF SETTLEMENT STMT (HUD-1) ; CERT. COPY OP PAYOFF DEMAND(S) ; WIRE INSTRUC; SATIS'EVIDENCE OF HAZARD INSURANCE COVERAGE AND EVIDENCE OF PMT 2. CLOSING AGENT TO SIGN LENDER'S INSTRUCTIONS 3. LOAN DOCS. AND ORIG CONDITIONS MUST BE RETURNED WITHIN 24 HRS OF DISBURSEMENT 4. SPECIAL ENDORSEMENTS: 8.1 100 116 5. APPROVED ITEMS: 1-3 6. TAX MESSAGE: PAY ALL TAXES CURRENT, IF APPLICABLE 7. BORR TO SIGN (IF INCLUDED WITH DOCUMENTS): W-9; 4506; IMPOUND AUTH, NAME AFFIDAVIT, LIMITED POA 8. FULFILL ALL 'COMMITMENT LETTER CONDITIONS' PER PAGE 3 OF THESE INSTRUCTIONS 9.CLOSING AGENT TO ATTACH LEGAL DESCRIPTION TO MORTGAGE/DEED OF TRUST. 10. CLOSING AGENT TO MAKE NO CHANGES TO LENDER INSTRUCTIONS W/0 FUNDER APPROVAL 11. ALL FEES/ITEMS ON THE HUD MUST REFLECT A PAYEE. 12. THE $150 LENDER CREDIT ON LINE 207 OF THE HUD REFLECTS A MTG TO BANK DISCOUNT COUPON. 13. CLOSING AGENT TO ADD VESTING TO 1ST PAGE OF THE SECURITY INSTRUMENT. 14. CLOSING AGENT TO SHOW APPRAISAL FEE PAID TO VALUE IT. 15. CREDIT REPORT FEE TO SHOW PAID TO RELS. THE TIL WAS;,NOT 'SENT W/DOCS., ESCROW MUST FAX AN ESTIMATED HUD FOR APR REVIEW AN • ECOBBL Rev 04/16/82 . • rax: rbua i[sazuu Apr Lu Luu/ I b:41i P. UU _ -mimi._—_ Loan Closing Instructions - Page .6 HUD-1 Instructions You are responsible for providing and completing a HUD-1 Settlement Statement using the following information. All fees in the POC column will be paid outside of closing. However the amount of the fee and the designation POC must be shown on the description lines of the HUD-1. Notify the Lender immediately if you become aware that any portion of the closing costs or down payment was borrowed, waived, or paid in a form other than cash, cashier' s or certified check or personal check. Landor WELLS FARGO BANK. N.A. Broker WFHM SAN LUIS OBISPO (HCS Flood Co. WELLS FARGO. FLOOD.SERVICE Mortgage Ins. Tax service Ce.•WELLS FARGO REAL ESTATE TAX SERV • FAX PRELIMINARY HUD WITH LEGIBLE FINAL FIGURES TO CLOSING DEPARTMENT FOR APPROVAL WITHIN 48 HOURS PRIOR TO SIGNING. Items Payable in Connection with the Loan Collect at • • HUD-1 Fee MUD Payee Paid By Closlnnf . POC` Total 0801** Oriainatior 0802** Discount 3.625 • LENDER BUYER 11,792.12 11,792. 12 .0803 Appraisal . • 0804 Credit Re.ort • 0805 Serv. Rel. Premium • aAn9 Final 471Npr+,c-i 4nri 0810 UNDERWRITING REVIE LENDER BUYER 6.95.00 695.00 0811 Flood Life of Loan Flood Co. BUYER 19.00 19.00 08_ Mortgage Broker BROKER Compensation 1119 Temp Buydown .Lender • 0901 Prepaid Interest LENDER BUYER 387.66 387 .66 From 04/25/07 to 05/01 07 at $64.61/day $34.66 , 0902 1204 GA Res. Mortgage Fee • 1303 Tax Service Fee Tax Sery BUYER 65.00 65.00 1304 Courier • . . •• • 1305 Application • TENDER BUYER 495.00 495.00 . 0207 CREDIT LENDER (150.0.0) (150.. 00) • • 246 559.15 246.559.15 0.104 P$•off - der � ( 845.45) 0209 Escrow Bal. Credit ( 845:45) 1 . 500888 Rw.11/22/02 rax: roup i oaeuo Apr LU zuu/ I b:4t1 I'. I U Loan Closing.Instructions - Page 7 Collect at HUD-1 Fee . HUD Payee Closing POC' Total • • • • • * These fees are collected or paid outside of closing and must be reflected as such on the HUD-1. ** Must show Fee Percent an HUD-1 Settlement Statement. Note: The prepaid interest shown on line 0901 must be calculated from the date the loan proceeds are disbursed. The actual payee names , from the list preceding this chart, should be used on the HUD-1. Reserves Deposited with Lender If reserves (or escrows) are required as indicated in the matrix below, you must doll.ect escrows in accordance with these instructions and. the Real Estate Settlement Procedures Act (including Regulation X). • HUD-1 Fee Required Months Per Month Total • 1001 Hazard Insurance Y 05 25.42 127. 10 100211ort_gage Insurance 1003 City Property Taxes • 1004 County Property Taxes Y 04 304.00 . 1,216.00 1005 Annual Assessments 1006 Flood Insurance 1007 1008 1009 Aggregate Adjustment (25.46) Reflect Zero ($0) on HUD-1 Settlement Statement if Aggregate Adjustment Is zero. • • ECOaaL Rev.11/22/92 , • rax: rouiootua Mar LU LUU/ Ib:4i I'. 11 Loan Closing Instructions - Page 8 ■ DISBURSEMENT OP LOAN PROCEEDS • The Lender will send a check or money wire to you in the amount of $67',097..72 which includes lender's tax and broker's compensation, if applicable. Do not disburse any loan proceeds until you have complied with all title requirements included in the Instructions and the rescission period, if applicable, has expired. Return to the Lender in the closed loan package a copy of all disbursement checks and all other documentation necessary to prove disbursement in accordance with the Lender's and title insurer' s requirements. • EC0SBL Rov.04/15/92 rax: tbuutubzu Apr LU LUU/ lb:4J P. 12 Loan Closing Instructions ='Page 9' Closing Document Matrix Following this description is a matrix of closing documents. All closing documents with an X" in the "Required" column are required by the Lender for this loan. Except for the Notice of Right to Cancel , one copy of each of the closing documents marked with an "X" in the "Provided" column is enclosed in this closing package. The Lender will rely upon you to make additional copies in order to furnish the Borrower(s) with the appropriate number of copies, Any document that is not included in the list , but which is required by you or the title insurer, must be noted in the blank spaces at the end of the list and returned as part of the closed loan package. You should place an "X" in the "Returned" column opposite all documents which you are returning in the closed loan package. (See Closing Package Return Address on Page 1 of this Closing Instructions document. ) You are responsible for ensuring that: (1) all documents are properly executed and acknowledged, if required, and (2) the Lender has a valid and enforceable lien against the Property, • � g 3H yip m a m Closing Documents X X Loan Closing Instructions Closing Attorney's Fee Certification (Maryland) X X Truth-in-Lending Disclosure Statement - Return original and 2 copies Relationship ARM Allonge and Addendum to Note X X Notice of Right to Cancel - Provide each party entitled to rescind with two copies of the Notice of Right to Cancel and the Truth-in-Lending Disclosure Statement. Each party entitled to rescind must sign the Notice and a Truth-in-Lending Disclosure Statement': Do not disburse any loan proceeds prior to the expiration of the rescission period, X BUD-1 Settlement Statement - Return original and 2 copies. The HUD-1 Settlement Statement must accurately reflect all charges and payees in Connection with the loan in accordance with the Real Estate Settlement Procedures Act, including costs paid outside of closing. X X Commitment Letter Balloon Loan Commitment Letter Addendum • X X Note - Return original and two certified true copies Land Trust. Rider to the Mortgage' Note • Balloon Note Addendum • Security Instrument - A licensed Kentucky attorney must approve the Security Instrument and endorse on it "prepared by' language as required •by Kentucky Rev. Stat. Section 382.335. Attach legal description and all riders prior to recording. Return 2 certified true copies. X X Security Instrument - Attach legal description and all riders prior to recording. Return 2 certified true copies. Security Instrument - Add the county tax assessment parcel identification number in a conspicuous place. Attach legal description and all riders prior to recording. Return 2 certified true copies. Balloon Rider - Return 2 certified true copies. • Condominium Rider - Return 2 certified true copies. Second Home Rider - Return 2 certified true copies. 1-4 Family. Rider - Return 2 certified true copies. X X PUD Rider - Complete recording information and return 2 certified true copies. Manu. Home Rider, Affidavit of Affixation and Ltd POA/Return 2 copies. X X Statement of Borrower Benefits Property Improvement Rider - Return 2 certified true copies. Land Trust Rider• to, the Mortgage - Return 2 certified true copies. . x x Adjustable Rate Rider - Return 2 certified true copies . Renewal and Extension Rider - Complete and return 2 certified true copies Security Assignment of Beneficial Interest in Land Trust Interest 'Subsidy Agreement and Subsidy Schedule Special Documentation Disclosure Balloon Disclosure Statement General Authorization X I X Servicing Disclosure Statement EC0600 Rev,02/03ro6 .s___ - rax: rbuJIabLu Apr LU "LUU/ Ib:4i F'. ld 4i1y �_ Loan Closing Instructions Page 10' ' • & m Closing Documents • _ Rate Lock-In 'Agreement . • Notice to Borrower of Special Flood Hazards _ X X Initial Escrow Account Disclosure Statement • Tax Escrow Option Election • Escrow Account Disclosure Agreement • Tax Collector Letter • • X X Tax Certification Form _ 1099 Certification - You must sign the 1099 Certification •and file the IRS form 1099-S in accordance with Section 6O45(e) of the Internal Revenue Code of 1986• , as amended, Authorization to Release Tax Forms and. Information X X W-9 Form X X Loan Payment Information and Confirmation of Disbursement X X Residential Loan Application Rider to Residential Loan Application Rhode Island Acknowledgment Mortgage Subordination Agreement x x Name Affidavit . Escrow for Completion Agreement Power of. Attorney. - A Power of Attorney may not be used without Lender' s and title insurer's prior approval . " Property Inspection Certification . . N/A X Appraisal - Give to the Borrower(s). Do not return. Consolidation, Extension and Modification (CEM) Documents including: CEM Agreement and all exhibits (record as one document) - Return. 2 certified true copies. • Assignment(s) of Underlying.Mort gages) towsu-spA.AGCBANK, N.A. Return 2 certified true cajoles. Original Underlying Note(s) Original Recorded Underlying Mortgage(s) Copy of Assignment(s) of Underlying Mortgage(s ) Buydown Agreement . • • Interest Rate Forbearance Agreement Assignment of Interest Endorsement . . Request for Mine Subsidence Insurance Information _ • Acceptance of Assignment and Assumption of Proprietary Lease; if applicable, as determined by closing attorney/agent • Assignment of Proprietary Lease - In blank, signed by Borrower(s). Assignment of Proprietary Lease - From seller(i) to Borrower(s) if applicable as determined by the closing attorney/agent . Consent of Corporation; Proprietary Lease ' Recognition Agreement X X Prepayment Rider - Return 2 certified true copies. . X _ X Prepayment Addendum to Note - Return 2 certified true copies . Prepayment Penalty Disclosure/Waiver (Minnesota) • Stock Power - Return original with signatures notarized. UCC Financing Statement(1) & UCC(3) Termination Statement if applicable • UCC Search (to include' legal description) and Name Searches • Loan Security Agreement • X X Limited Power of Attorney - The Limited Power of Attorney is being • provided in connection with the assignment of the Security Instrument . Assignment - Attach legal description prior to recording. Return 2 . certified copi•e•s. . Voluntary Escrow Prepayment Designation Welcome Letter _ Temporary Payment Coupon • Notice of Assigment , Sale, or Transfer of Servicing Rights X X Escrow Balance Transfer Authorization X X • • OTHER - OTHER - • . OTHER - . EC068Q Rav,OB/28/06 Fax:7609185209 Apr 20 2007 16:49 P. 14 Loan Closing Instructions Page 11 Closing Agent Certification The undersigned closing agent hereby certifies that: 1) all required documents have been prepared, executed and/or recorded as necessary; 2) to the best of my knowledge, the loan has been closed and disbursed in strict accordance with federal and state laws; 3) the loan has been closed and disbursed in strict. accordance with the requirements set forth in the Instructions and the title commitment (and, if you are a member of the closing agent network, the Closing Agent Manual) ; 4) no changes to the Loan Terms or to the Closing Documents have been made without the prior approval of the Lender; and 5) no additional disbursements to the Borr'ower(s) or the Seller(s) have been made without the prior approval of the Lender. Date: CUESTA TITLE Title Insurance Certification The undersigned Insurer certifies that it has reviewed all Title Requirements set forth in the Instructions and that it will not disburse the Lender's funds or authorize the disbursement of the Lender's funds until it is prepared to issue an ALTA loan policy that complies in form and substance with the'Title Requirements applicable to this loan transaction. Date: • Authorized Signer • • • ECOBBL Rev.10/27/83