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  1. Mortgage Customers have the right to receive a loan officer's best quote upfront.
  2. Mortgage Customers have the right to receive a Good Faith Estimate before making a formal application.
  3. Mortgage Customers have the right to meet with a loan officer, in person, before providing any personal information.
  4. Mortgage Customers have the right to shop around for the best loan without being pressured.
  5. Mortgage Customers have the right to read documents and ask questions before signing them.
  6. Mortgage Customers have the right to expect timely updates on the status of their loan application.
  7. Mortgage Customers, if they are denied for a home loan, have the right to learn from a loan officer what they can do to be approved in the future.
  8. Mortgage Customers have the right to expect a loan officer to meet important deadlines like loan commitment and closing.
  9. Mortgage Customers have the right to walk away from closing if the loan officer failed to properly disclose rates, terms or fees.
  10. Mortgage Customers have the right to ask a loan officer questions about their loan after closing.

Mortgage Customer Bill of Rights

Lenders have armies of lawyers to draw up documents to protect their interests. In order to protect your own, you have one fundamental, absolute advantage. You have the ability to take your business anywhere you want - even if you have already filled out an application with a mortgage company!

The following list is by no means exhaustive, but provides what I consider a good baseline of expectations you can have for your lender's service. If your lender doesn't measure up, consider exercising your right to move on.

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