This form collects the settings GoDocs needs to complete the setup process.
New Customer Information Your Name(Required)
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Last
Your Email Address(Required) Customer Type(Required) Will you, as an individual, be the GoDocs customer? Yes No
Customer Name (individual private lender)(Required)
First
Middle Initial
Last
Email
Have you obtained all necessary internal approvals to specify the GoDocs customer and lender settings in this form?(Required) Yes - I have obtained all required approvals of these settings Not Yet - management must approve these settings
Person(s) who must approve these settings on behalf of customer:(Required) We will email the completed form to the person(s) named below for their approval of these settings.
Note: It is very important to provide the exact legal name as reflected on the entity's organizational documents or the secretary of state website for the entity formation state.
Customer is what type of entity?(Required) Limited liability company Limited partnership General partnership Corporation Nonprofit corporation Other
Formation State Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Armed Forces Americas Armed Forces Europe Armed Forces Pacific
Types of loan transactions for which customer may need documents(Required) Check all that apply.
In what regions does customer lend?(Required) Check all that apply.
State where loans will be made:(Required) Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Armed Forces Americas Armed Forces Europe Armed Forces Pacific
Address for Notices(Required) Enter the lender's address for notices in the loan documents.
Add an "Attn:" line to notice address?(Required) Note Payment Address: should note payments be sent to the same address as notices?(Required) Yes - Use the same address for note payments as for notices No - Customer has different Note Payment Address
Address for Note Payments(Required) Enter the note payments address.
Add an "Attn:" line to note payment address?(Required) Document Return Address: Should recorded documents be returned to the same address as notices?(Required) Yes - return documents to the same address as notices No - Customer has different document return address
Document Return Address(Required) Enter the customer's address where recorded documents should be mailed.
Add an "Attn:" line to document return address?(Required)
Document Package Options Our default document package options are suitable for most customers.If desired, you may choose specific document package options different from the default options. We are happy to discuss these items.
UCC-1 Financing Statements for Secretary of State Filing All GoDocs document packages include a fixture filing financing statement as part of the deed of trust or mortgage. This section determines whether the customer will receive a separate UCC-1 Financing Statement for filing with the secretary of state. This may be specified separately by product type.
Include UCC-1 Financing Statement Default is to leave all boxes for all loan types unchecked .
Separate Assignment of Leases and Rents All GoDocs mortgages and deeds of trust include a comprehensive assignment of leases and rents. While not legally required, some lenders prefer to have a separate assignment of leases and rents prepared and recorded along with the deed of trust or mortgage.
Include Separate Assignment of Leases and Rents? Default is to leave all boxes for all loan types unchecked .
Separate Environmental Indemnity Agreement By default, GoDocs includes comprehensive environmental indemnity provisions in the loan agreement. While not legally required, some lenders prefer to have a separate environmental indemnity agreement prepared rather than including the same provisions in the loan agreement. There is no difference in the covenants themselves, it is a matter of whether to include those covenants in the loan agreement or in a separate document.
Include Separate Environmental Indemnity Agreement? Default is to leave all boxes for all loan types unchecked .
Single Asset Entity Requirement Lenders often require that the borrowing entity be a "single-asset" entity. That is, the borrowing entity will not own any assets other than the real property that serves as security for the loan. (The single asset entity requirement is not available for individual or family trust borrowers.)
Does customer require the borrower to be a single asset entity (SAE)?(Required) Reminder: This does not apply for loans to individual or family trust borrowers. Default is no .
Cash Collateral Agreement Lenders sometimes require a cash deposit at the time of loan closing, to be pledged as additional collateral for the loan, and released upon satisfaction of stated conditions. The cash may be from the borrower's own funds or from loan proceeds.
Show Option to Request Cash Collateral Agreement?(Required) Default is no .
Repair Agreement A Repair Agreement is used when a lender is willing to close a loan even though repairs are required, on the condition that funds are deposited to cover the cost of the repairs.
Show Repair Agreement Option?(Required) Default is no .
Side Letter / Undelivered Items Letter A side letter is used when a lender is willing to close the loan based on the borrower's promise that certain conditions will be satisfied within a certain amount of time after the loan closing.
Show Side Letter and Undelivered Items Letter Option?(Required) Default is yes .
Miscellaneous Does customer offer fixed rate, adjustable rate, or hybrid loans?(Required) Check all that apply.
(A hybrid loan is one that is fixed for a period of years, after which the rate adjusts on a periodic basis.)
Is there a limit as to how much the rate can change on any rate change date?(Required) Does the per-change limit apply to the first rate adjustment on hybrid loans?(Required) What interest rate indices does the customer use?(Required) Check all that apply.
Other Rate Indices Used by Customer(Required) Describe any other rate indices used by customer.
Interest Accrual Method(Required) Default is 30/360 .
P&I Payment Calculation for Actual/360 Interest Accrual Method(Required) Most lenders who accrue interest on an Actual/360 basis nevertheless calculate the monthly principal and interest payments based on a 30/360 method.effective rate [(stated rate / 360) * 365].If you are unsure, select the first option, which the most common practice .
Do any of customer's loans include a prepayment premium?(Required) Prepayment Premiums Used by Customer(Required) Other Prepayment Premiums(Required) Describe any other prepayment premiums used by customer.
Is the borrower allowed to prepay up to a certain amount over a 12 month period (or per calendar year) without incurring a prepayment premium?(Required) Some lenders allow customers to prepay up to a certain percentage of the outstanding loan balance during each 12 month period (or calendar year) without incurring a prepayment premium.This is typically stated as a percentage of the outstanding principal balance.
Prepayment Allowance(Required) Amount which may be prepaid during 12 month period or per calendar year.
20% 25% 15% 10% 5% ask on a loan-by-loan basis
Borrower Recourse Options(Required) Check all that apply.
Guarantor Recourse Options(Required) Are customer's loans assumable?(Required) No Once for one point Ask on a per-loan basis
Impound (escrow) for taxes?(Required) Indicate whether customer requires impounds (aka escrow deposits or imposition deposits) for real estate taxes.
Impound (escrow) for insurance premiums?(Required) Indicate whether customer requires impounds (aka escrow deposits or imposition deposits) for insurance premiums.
How many days must a payment be late before a late charge is assessed?(Required) 10 days 5 days 15 days 1 day No late charge
Late charge as a percent of the payment amount that is late?(Required) 5% 4% 3% 2% 1% 6% 7% 8% 9% 10% We use a different late charge (we will discuss)
Default Rate(Required) The note rate plus a stated percent A specified default rate of interest No default rate
Default Rate Percentage Increase(Required) 4% 10% 9% 8% 7% 6% 5% 3% 2% 1%
Stated Default Rate(Required) 18% 22% 21% 20% 19% 17% 16% 15% 14% 13% 12% 11% 10%
Returned Item Fee(Required) Fee for bounced checks or declined ACH payments.
Yes No
Dollar Amount of Returned Item Fee(Required) Default is $100.
Does customer ever make mortgage loans in a second or third lien position?(Required) No - customer only makes first lien loans Yes - allow the option for second or third lien loans
Does customer allow a subordinate mortgage?(Required) No - subordinate mortgages are never allowed Sometimes - show the option to allow a subordinate mortgage
Does customer want the option to request mortgage assignment documents?(Required) No Yes
User Setup List users who should be issued logins to the GoDocs website. If you wish to have access to the GoDocs website you must include yourself in this list.(Required) 