Compliance and Disclosures
At Green Everest Capital, we are committed to ensuring transparency, compliance, and adherence to regulatory requirements to protect our clients and business operations. Please review the following compliance disclosures to understand our lending policies, legal obligations, and borrower responsibilities.
Loan Disclosure Requirements
We are required to provide borrowers with clear and concise information regarding loan terms, costs, and obligations, including but not limited to:
- Interest Rate Disclosure: Interest rates vary based on borrower qualifications, market conditions, and loan specifics. Our rates typically range from 8-15% and are subject to change.
- Fees and Costs Disclosure: Borrowers should expect costs such as origination fees, closing costs, appraisal fees, and potential prepayment penalties. A complete breakdown of costs will be provided before closing.
- Repayment Terms: Loan terms generally range from 6 months to 3 years with interest-only payment options available. Detailed repayment structures will be outlined in loan agreements.
- Risk Acknowledgment: Hard money loans carry inherent financial risks, including potential foreclosure in cases of non-payment or default.
Licensing and Regulatory Compliance
Green Everest Capital operates in compliance with all applicable state and federal laws, including:
- State Licensing Information: We are a licensed lender in [Your State], adhering to all local financial regulations.
- Fair Lending Compliance: We comply with the Equal Credit Opportunity Act (ECOA), ensuring all applicants receive equal treatment regardless of race, gender, or financial background.
- Truth in Lending Act (TILA) Compliance: All loan terms and costs will be fully disclosed as per TILA requirements, ensuring borrowers understand their obligations.
Privacy Policy
We prioritize the protection of our clients’ personal information and comply with data protection regulations, including:
- Data Collection Practices: We collect information necessary to process loan applications, including income verification and property details.
- Third-Party Sharing: Information may be shared with third-party partners for credit checks and compliance purposes, with client consent.
- Data Security Measures: We implement robust security protocols to prevent unauthorized access to client data.
Loan Eligibility and Underwriting Criteria
To ensure a streamlined lending process, we establish clear eligibility and underwriting standards, including:
- Property-Based Lending: Loan approvals are primarily based on the value and profitability of the collateral rather than credit history.
- Borrower Qualifications: Applicants must provide a viable investment plan, proof of funds for down payments, and meet property condition criteria.
- Exit Strategy Requirements: Borrowers must present a clear repayment or refinancing plan.
No Guarantee of Approval
Loan approval is contingent upon various factors, including property valuation, market conditions, and borrower financial standing. Submission of an application does not guarantee approval or funding.
Legal Disclosures
- No Legal or Financial Advice Disclaimer: Information provided by Green Everest Capital should not be considered financial or legal advice. Borrowers are encouraged to seek independent professional counsel.
- Jurisdiction Clause: Our loan agreements are governed by the laws of [Your State], and disputes will be resolved in accordance with applicable jurisdictional guidelines.
- Borrower Responsibility Acknowledgment: Clients are responsible for understanding the terms and conditions of their loan agreements and meeting all obligations.
Equal Opportunity Statement
Green Everest Capital is an equal opportunity lender and does not discriminate based on race, color, religion, gender, or national origin.
For any questions or concerns regarding our compliance and disclosures, please contact us at info@greeneverest.net