MORTGAGE BANKERS ASSOCIATION

RESIDENTIAL LOAN ORIGINATOR CODE OF ETHICS

CANON 1 - PROFESSIONALISM

Loan originators will conduct their business in a professional manner that is honest in their dealings with the public and in compliance with sound industry standards.

Loan originators will be knowledgeable in the areas of mortgage banking in which they participate including a thorough knowledge of mortgage products offered, the market in which they operate, and federal and state laws and regulatory requirements.

Loan originators will disclose any interest they have in, or any relationship to a party related to, a loan application.


CANON 2 - INTEGRITY

Loan originators will not bring pressure to bear on any third party responsible for information used in the evaluation of a loan application to influence a specific outcome.

Loan originators will obtain complete and correct documentation from loan applicants, will not knowingly allow applicants to state false information, and will take action to investigate suspicious information.

 Loan originators will not offer loan products, interest rates, or other terms or conditions that are not available to applicants.

Loan originators will ensure that loans ready to close during the loan commitment period are closed in accordance with the terms of the commitment.

Loan originators will ensure that any fees collected are allowable and in accordance with those established by their company and that such funds received are promptly given to the designated company personnel.
 

CANON 3---FAIR LENDING

Loan originators will comply with all federal and state fair lending laws.

Loan originators will conduct their business without regard to the race, color, sex, religion, marital status, sexual orientation, national origin, or age of the persons with whom they deal.
 

CANON 4---ETHICS COMPLIANCE

 Loan originators will be familiar with this Code of Ethics and comply with its provisions to ensure the professionalism and integrity essential in the mortgage industry.