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Home Mortgage Licensing and Disclosures Palermo & Carucci Closing Guarantee

Palermo & Carucci Closing Guarantee

$20,000 Closing Guarantee Certificate

The CrossCountry Palermo & Carucci Team Purchase Closing Guarantee (“Closing Guarantee” is only valid for applications submitted to the Palermo & Carucci Team at CrossCountry Mortgage, LLC (“CrossCountry”) located at branch address 99 Rosewood Drive, Suite 225, Danvers, MA 01923 NMLS1401242. This offer is not available to any other CrossCountry applicants. Applicant must request the guarantee and receive a $20,000 Closing Guarantee Certificate (“Certificate”). In order to receive a Certificate, an applicant must:

  1. Submit a FastTrack Preapproval request for a first-lien purchase of a 1-4 family primary residence and receive a FastTrack Credit Approval prior to December 31, 2024. Click here for more information on the FastTrack Preapproval requirements.
  2. Provide a complete application package which includes all requested supporting documentation, a fully executed purchase contract, and signed disclosures.
  3. Obtain an appraisal report on the subject property through CrossCountry evidencing acceptable collateral which supports the purchase price value.
  4. Obtain clear title for the subject property.
  5. Loan closing date must be at least 10 business days after receipt of the application.

This offer is invalid if:

  1. CrossCountry discovers that information you provided to obtain a FastTrack Credit Approval was inaccurate or there are changes to your credit profile, income, income source, or available assets, or additional information is provided that impacts your ability to qualify for the loan;
  2. You initiate changes to the loan terms (e.g. loan amount, product, interest rate) which impact your eligibility.
  3. You fail to provide information requested by CrossCountry within 5 business days of the request or you withdraw your application before the closing date.
  4. The transaction does not close because you initiate an appraisal dispute, the seller refuses to make repairs identified as required in the appraisal report, because items on the title report need to be removed or cleared; or because of a force majeure event (including weather or natural disaster).

This Closing Guarantee is not an offer or an inducement by CrossCountry to enter into an agreement to make a loan, nor a guarantee or lock of a specific interest rate or number of discount points. An offer to make a loan is neither binding nor enforceable unless it is in writing and signed by both the borrower and CrossCountry.

Claims regarding this offer can be made by sending a written request with supporting documentation to the following:

Attn: Legal Department – Guarantee Claims CrossCountry Mortgage, LLC | 2160 Superior Ave, Cleveland, OH 44114

If you qualified for the Closing Guarantee , CrossCountry will mail the Closing Guarantee funds to the address listed on your CrossCountry application. Recipients will be responsible for all taxes and fees associated with receipt of the Closing Guarantee funds, which may be considered miscellaneous income received from CrossCountry. CrossCountry may be required to send to you, and file with the IRS, a Form 1099-MISC for the year in which you receive the Closing Guarantee funds. Please consult your tax advisor.

CROSSCOUNTRY RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, PROMOTIONS, GUARANTEES,  AND BENEFITS AT ANY TIME WITHOUT NOTICE. Terms are subject to change at any time without notice and may be subject to state restrictions. This offer cannot be combined with any other offer.

Equal Housing Opportunity. All loans subject to underwriting approval. CrossCountry Mortgage, LLC NMLS3029 NMLS1401242.

(www.nmlsconsumeraccess.org). CrossCountry Mortgage, LLC is licensed in the Commonwealth of Massachusetts as Massachusetts Mortgage Lender and Mortgage

Broker MC3029.