||DISCLAIMER AND PRIVACY NOTICE
If you choose to hire Panama Mortgage Brokers, Inc. to assist you in procuring a mortgage loan you acknowledge and agree that PANAMA MORTGAGE BROKERS, INC. IS NOT A DIRECT LENDER. Instead, Panama Mortgage Brokers Inc. is an independent contractor being hired to assist you in obtaining a residential mortgage loan from a lender with whom we from time to time contract upon such terms and conditions as you may request or as the lender may require. You acknowledge that Panama Mortgage Brokers, Inc. may receive additional payment ranging from 0 to 5% of the loan amount from the actual lender on your loan in addition to any fees, which we may charge you, our customer directly.
Panama Mortgage Brokers, Inc. is an independent contractor and is not an exclusive agent. From time to time we enter into separate independent contractor agreements with various lenders. While we seek to assist you in meeting your financial needs, we do not distribute the products of all lenders or investors in the market and cannot guarantee the lowest price or best terms available in the market. The retail price we offer you, your interest rate, total points and fees, will include our compensation. In some cases, either you or the lender, or some combination thereof may pay us all of our compensation. Alternatively, both you and the lender may pay us a portion of our compensation. For example, in some cases, if you would rather pay a lower interest rate, you may pay higher up front points and fees. Also, in some cases, if you would rather pay less up front fees, you may be able to pay some or all of our compensation indirectly through a higher interest in which case we will be paid directly by the lender. We may also be paid by the lender based on (1) the value of the mortgage loan or related servicing rights in the market place or (2) other services, goods or facilities performed or provided by us to you or to the lender. You acknowledge that you could possibly obtain a lower note interest rate should you choose to shop around with other lending sources. Panama Mortgage Brokers, Inc.’s goal is to provide fast efficient and convenient service to you and your family.
Panama Mortgage Brokers, Inc. shares your concerns about privacy. We are committed to respecting the privacy of our customers. We recognize the importance you place on your privacy and the confidentiality of your personal and financial information. Therefore, we do not disclose and do not reserve the right to disclose non-public personal information about customers or former customers to third parties except as permitted by law, or as necessary to procure your loan. We restrict access to non-public personal information about you to those employees in our company or in the respective lender’s companies who need to know that information to provide products and services to you. We maintain physical, electronic, and procedural safeguards to guard your non-public personal information. We do not collect any nonpublic personal information about you other than what you personally provide to us or authorize us to check, or:
a.) Information we receive from your attorney, banker, investment broker or real estate agent in regard to your application for a mortgage loan.
b.) Information we receive from a consumer-reporting agency, which you authorize us to check.
c.) Information from your employer, banking institution or from other companies or individuals, which you have provided us information on in order to attempt to obtain approval for your mortgage loan.
Panama Mortgage Brokers, Inc. understands the Panama real estate lending market and understands your needs. Thank you for considering Panama Mortgage Brokers, Inc.