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Disclaimers, Disclosures and Other Information

Please inform the Lenders that you found them on this web site or from our Rate Tables published in local newspapers.

Disclosure

Residential Mortgage Consultants web site, rmcreport.com, is a service for Metro Detroit and Southeastern Michigan mortgage consumers. RMC does not sell mortgage products, and we are not affiliated with any mortgage lender. RMC is not a lender and does not make mortgage loans. RMC is not a mortgage or loan broker as it never solicits, processes, places or negotiates mortgage loans or applications for any party.


The mortgage program information on this web site is not to be construed as a quotation or offer of credit from any lending institution named herein. This information is provided only as a guide for comparison and informational purposes, and is subject to change without notice. Individual qualifications and verification of the information should be obtained from a loan officer of any lending institution that you contact. RMC, Inc. is not liable for errors, omissions or changes made after our deadlines.

Our Lender Reporting Requirements

  • The reported rates must be available to clients with a FICO Credit Score of 740 or above.
  • Points are a total of all fees that are a percentage amount, or fraction thereof, of the loan.
  • Rates must have a 45 day or more lock period and be lockable at application.

  • All rates and related information are updated directly, on this site, by each lender and is deemed reliable but not guaranteed. We do monitor lender input and require proof of rates when they seem lower that could be expected. Lender may be required, upon our request, to supply us with a wholesale sheet to verify rate availability.

    Federal Disclosures

    Your lender or Realtor will make certain disclosures to you when you apply for a mortgage and complete your loan application. These disclosures are required by law and by "Regulation Z Truth-in-Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA) now known as TRID and include the following:

  • Loan Estimate (provided within 3 days of application).
  • Closing Disclosure 3 days before the closing (Provided by lender.)
  • Your Home Loan Toolkit - A step by step guide booklet.
  • Disclosures about your right to a copy of the appraisal of your home. - Located on your Loan Estimate.
  • The possibility that your mortgage loan servicing may be transferred. - Located on your Loan Estimate.
  • Disclosures about how your loan will be processed.
  • The Annual Percentage Rate (APR) on all ARM programs may be increased after consummation.

  • To determine your monthly Principal and Interest (P&I) payment please visit our calculator program on this site. Payments on 30 year mortgages are based on 360 payments, 25 year on 300 payments, 20 year on 240 payments and 15 year on 180 payments. Payment calculation does not include Taxes and Insurance unless you enter these values into the calculator. Borrowers that put less than 20% down may be required to purchase (PMI) Private Mortgage Insurance.

    Contact Information

  • Voice - (734) 922-3032

  • Email - inquiry@rmcreport.com


  • Rmcreport is a registered trademark of Residential Mortgage Consultants, Inc., a Michigan Corporation. All Rights Reserved



    Please inform the Lenders that you found them on this web site or from our Rate Tables published in local newspapers.
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