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Since I was re-locating to Rochester from out of state, I thought getting a mortgage was going to be a nightmare. Thankfully, with your help, the whole process was smooth as glass! CR, Wisconsin

It is our pleasure to provide important information regarding your application process and Premium Mortgage Corporation ("Premium Mortgage"). Premium Mortgage is a mortgage broker, duly registered with the State of New York, which assists its clients in securing mortgage financing through third party lenders.

Premium Mortgage surveys the loan programs available from its various lenders on a daily basis and provides its clients specific information on the types of loan products available, each lender's policies and guidelines and the likelihood of the client conforming to them. We will assist you by completing the loan application and processing it in accordance with the policies and guidelines of the Lender. We will submit your application package to the Lender for its consideration and, if granted, help you to satisfy any commitments, guarantee acceptance into any particular program, or promise any specific loan terms or conditions. As a mortgage broker, Premium Mortgage cannot make mortgage loans, issue commitments, guarantee acceptance into any particular program or promise any specific loan terms or conditions. Rather, we counsel our clients on the varied loan products available from our lenders and assist them in submitting an application package to one of these correspondent lenders for their consideration.

You understand that Premium Mortgage Corporation is a third party provider and are paid by either the Lender, the Borrower or a combination of both. The total compensation is not known at this time but will be diclosed prior to cClosing and will not exceed 5% of the laon amount.

You understand that you are required to pay the following fees at application: For conventional loans, the appraisal fee is $225, the credit report fee is $50 and the application fee is $95. At closing a processing fee of $125.00 is due for conventional loans only. For FHA loans, the appraisal fee is $300.00 and the credit report fee is $50.00. (Fees for Multi-Family homes may be higher). If your loan is FHA, the fees paid by you cannot exceed those fees incurred by the Broker. The property appraisal fee and the credit report fee are estimates of the actual costs and services and you agree to pay any shortfall at closing. THE PROPERTY APPRAISAL AND CREDIT REPORT FEES ARE NON-REFUNDABLE EXCEPT THAT AMOUNTS COLLECTED IN EXCESS OF THE ACTUAL COSTS WILL BE REFUNDED. IF THE PROPERTY APPRAISAL AND CREDIT REPORT HAVE NOT BEEN DONE, THE FEES WILL BE REFUNDED IN FULL The application fee is, by law, based upon our actual cost of processing applications and is NON-REFUNDABLE. If you paid for an appraisal, you have a right to a copy of the appraisal report used in connection with your application for credit. If you wish to have a copy, please write us at the address shown below.

If you have any questions pertaining to your application, please do not hesitate to contact Alexia Barbarossa at (585) 241-0000 or our toll free number 1-877-690-7240. It is our pleasure to be of assistance to you with your mortgage needs.

BROKER FEE DISCLOSURE

In the following disclosure, I = Applicant; You = Mortgage Broker

MORTGAGE BROKER FEE ACKNOWLEDGEMENT:

I acknowledge that this mortgage broker fee will be paid to you. I further acknowledge that there is no other mortgage broker fee agreement between us.

I understand that I am required to pay the following fees at application:

• Application Fee         $95
• Property Appraisal Fee* $225
• Credit Report Fee*      $50

*The property appraisal fee and the credit report fee are estimates of the actual cost of the services. Should the actual costs exceed the estimate, I understand that I will be billed and will pay the shortfall at or prior to closing.

The credit report and appraisal fee are non-refundable except that amounts collected in excess of the actual cost will be refunded. If the credit report and appraisal have not been done, the fees will be refunded in full. In addition, the processing fee (as noted on your Good Faith Estimate) is also non-refundable.

APPLICATION QUESTIONS:

I understand that I may address questions or comments about my application to Mike Donoghue at (585) 241-0000 ext. 101. If I live more that 50 miles from the office at which my file is being processed, I may call you at 1-877-690-7240, or if unavailable, I may call you collect.