I, the authorized signer for and on behalf of Broker, hereby elect the following percentage of loan amount for determining Broker's Lender Paid Compensation amount in compliance with the Board of Governors of the Federal Reserve System's Regulation Z to the Truth InLending Act, for wholesale funded loans where borrower(s) have chosen to have ResMac, Inc. ("Lender") pay the Broker's compensation:
Broker's election cannot be changed until the next open election period (90 days after executing this form). The initial election will automatically renew if Broker chooses not to change the election percentage amount during subsequent open election periods.
Broker certifies that when compensation is paid by Lender, such amount is and will be their sole source of compensation. Broker will not charge or in any way assess borrower(s) any additional fees or charges. Broker will not receive or accept any compensation in any form, at any time, from any party other than the Lender. Broker's compensation is subject to all applicable federal, state and local laws and regulations.
This Compensation Election Percentage applies to all wholesale funded loans submitted by Broker and its affiliates to the Lender.