SECURITY
Loans Alive uses extensive and sophisticated secure technology to protect your data and transmissions between you, Loans Alive, Brokers, Title Companies and Appraisers participating on this web site. Here are the highlights:
- Transmission between browsers and our web server is implemented using Secure Sockets Layer (SSL) technology. This technology requires an SSL-capable browser such as MS Internet Explorer 3.0 (or later) or Netscape Navigator 2.0 (or later).
- Transmissions between Loans Alive and participating agents are encrypted using public key cryptography algorithms with a minimum key size of 128 bits.
- Our database is physically separated from our web server and is protected by a physical firewall.
LOAN ORIGINATION SERVICES
Loans Alive Origination Service. Loans Alive origination process occurs when you complete and submit a full Loans Alive loan application. At this time your information is inputted into our software application, your credit is pulled and your information is processed and published for view on the World Wide Web. It is imperative the information you have provided in your loan application is true and complete. By choosing an option and submitting your loan application, you also agree to and accept this Agreement in its entirety.
Standard Loans Alive Application. Loans Alive, arranges for your information to be published on the web to attract Brokers. Loan bids will be accepted through its network by submitting the Loans Alive loan application; you authorize Loans Alive, to provide your information to Brokers on the Loans Alive network. You also authorize Loans Alive and its Brokers to check your credit history.
To Determine Which Brokers May Bid on Your Loan Request. Brokers provide to you loan bids based on certain criteria provided by you in your loan application (for example, type of loan, purchase or refinance, loan to value, loan amount, debt ratio, appraised value etc., and the type of loan customer (for example, state of residence and creditworthiness) in which the Broker is interested. Depending on the credit worthiness of the customer A Paper Brokers or Sub-prime Brokers may bid on your loan request. The winning bid you receive typically will be the lowest offers based on the interest rates set by the wholesale mortgage Lenders or Investors willing to acquire the type of loan that you requested. If you are not completely satisfied with the winning bid you are not required to accept it. You can reapply anytime paying only for the cost of your new credit report.
Time is of the Essence. If you decide to accept the winning bid, you have exactly 15 minutes from auction end to notify Loans Alive that you want to proceed with your loan request (the sooner the better). By simply clicking the Accept Loan Bid button Loans Alive will be notified to proceed and your interest rate will be confirmed and locked immediately with the appropriate Lender. Although we have taken careful precautions to make sure your rate will be confirmed and locked we can not guarantee that you will receive the exact interest rate submitted by the Broker at auction end. There is a possibility there could be a rate increase due to market conditions from the time your auction ends until we receive your instructions to proceed with your loan request. It the event of this occurrence Loans Alive would immediately notify you though email or by telephone with the rate increase. It would be completely up to you if you wanted to proceed and lock your loan at the higher interest rate. In the event you do not notify us within 15 minutes of auction end we can not guarantee you will receive the exact interest rate submitted by the Broker at auctions end.
Responsibility for Settlement and Closing Costs. Regardless whether you obtain a loan from Loans Alive network of Brokers or not you will be responsible for paying for any settlement or closing costs associated with your loan (such as loan processing, underwriting, appraisal or funding fees, title insurance premiums, notary fees, etc.) Loans Alive does not charge you a fee for its service.
Terms Applicable to All Loan Services. Loans Alive is not a lender and does not make loans or credit decisions in connection with loans. Loans Alive does not endorse or recommend the products of any particular Lender on any of its websites. Loans Alive is not an agent of you, the User, or any participating Broker or Lender, Title Company or Appraiser. Loans Alive services are administrative and consultative only. You should rely on your own judgment in deciding which available loan product best suits your needs and financial means. The Broker and the Lender are solely responsible for its services to you, and you agree that Loans Alive shall not be liable for any damages or costs of any type arising out of or in any way connected with your use of such services.
This web site and the services provided by Loans Alive are available only in connection with (a) mortgage loans made on real property located in the fifty states and the District of Columbia unless otherwise specified, and made to citizens and residents of the United States. Loans may only be made to residents of, or secured by real property located in, states where participating Brokers are licensed or authorized to make such loans. Brokers are not attempting to make loans outside of their authorized states or country by participating in and offering their products on this web site. Loans Alive and/or participating Brokers expressly reserve the right to discontinue, suspend or terminate the offering of any loan product in any specific state through this web site.
Loans Alive does not guarantee acceptance into any particular loan program or specific loan terms or conditions with any participating Broker or Lender; loan approval standards are established and maintained solely by individual Brokers and Lenders. Likewise, Loans Alive does not guarantee that the loan terms or rates offered and made available by participating Brokers through this web site are the best terms or lowest rates available in the market. Unless expressly stated in writing, nothing contained herein shall constitute an offer or promise for a loan commitment or interest rate lock-in agreement.
Loans Alive does not charge you, the User, a fee to use our service. However, Loans Alive does charge the standard processing fee associated with every closed loan. Since Loans Alive is the "processor" of the loan we inherit the loan processing fee instead of the Broker. Loans Alive is also paid a fee by participating Brokers for the goods, facilities and services provided. Your use of this web site and/or Loans Alive services constitutes your agreement with this compensation arrangement.
By hitting submit you understand and agree that you are submitting an inquiry as to a lending product with Loans Alive and each of the Brokers to whom your loan request is transmitted. By submitting the loan request containing your electronic signature, you are extending an invitation to the winning Broker, Lender to contact you by email or telephone at the numbers you have provided so they may assist you with your transaction, and you hereby consent to any such calls even if your phone number is on any Do Not Call list. By saving your information with Loans Alive and/or submitting a loan request, you give Loans Alive permission to make recorded calls to remind you of any deadlines or issues in connection with your loan request.
Account Registration. By creating an account or otherwise registering with this site, you hereby understand and agree that you have established a business relationship between you and Loans Alive which is the owner of this site. As such, you agree that Loans Alive may contact you using information you provided with information and offers of services available through Loans Alive and any of its websites. You hereby consent to any such communication or phone calls even if your phone number is on any Do Not Call list.
COPYRIGHT AND TRADEMARK NOTICES
All contents of this web site are: Copyright ©2007 Loans Alive, LLC 19920 N 23rd Avenue, Phoenix Arizona, U.S.A. All rights reserved. Loans Alive is a service mark of Loans Alive, LLC. Other product and company names mentioned herein, including the names of participating Brokers, may be the trademarks of their respective owners.
DISCLAIMERS AND LIMITATIONS
Loans Alive intends that the information contained in its web site be accurate and reliable; however, errors sometimes occur. In addition, changes and improvements to the information provided herein may be made by Loans Alive at any time. THIS WEB SITE AND THE INFORMATION, SOFTWARE, PRODUCTS AND SERVICES ASSOCIATED WITH IT ARE PROVIDED "AS IS." LOANS ALIVE AND/OR ITS SUPPLIERS, PARTICIPATING BROKERS, DISCLAIM ANY WARRANTY OF ANY KIND, WHETHER EXPRESS OR IMPLIED, AS TO ANY MATTER WHATSOEVER RELATING TO THIS WEB SITE AND ANY INFORMATION, SOFTWARE, PRODUCTS AND SERVICES PROVIDED HEREIN, INCLUDING WITHOUT LIMITATION THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NONINFRINGEMENT. USE OF THIS WEB SITE AND/OR LOANS ALIVE'S SERVICES IS AT YOUR OWN RISK. LOANS ALIVE AND/OR ITS SUPPLIERS, PARTICIPATING BROKERS, ARE NOT LIABLE FOR ANY DIRECT, INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES OR OTHER INJURY ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OF THIS WEB SITE AND/OR LOANS ALIVE'S SERVICES OR WITH THE DELAY OR INABILITY TO USE THIS WEB SITE, OR FOR ANY INFORMATION, SOFTWARE, PRODUCTS AND SERVICES OBTAINED THROUGH THIS WEB SITE, OR OTHERWISE ARISING OUT OF THE USE OF THIS WEB SITE, WHETHER RESULTING IN WHOLE OR IN PART, FROM BREACH OF CONTRACT, TORTIOUS BEHAVIOR, NEGLIGENCE, STRICT LIABILITY OR OTHERWISE, EVEN IF LOANS ALIVE AND/OR ITS SUPPLIERS HAD BEEN ADVISED OF THE POSSIBILITY OF DAMAGES. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF IMPLIED WARRANTIES, SO THE ABOVE EXCLUSION MAY NOT APPLY TO YOU.
INDEMNITY
As a condition of use of this Web site and/or Loans Alive services, you agree to indemnify Loans Alive and its suppliers, participating Brokers from and against any and all liabilities, expenses (including attorneys' fees) and damages arising out of claims resulting from your use of this web site, including without limitation any claims alleging facts that if true would constitute a breach by you of this Agreement.
LINKS TO THIRD PARTIES
This web site may contain links to web sites maintained by third parties. Such links are provided for your convenience and reference only. Loans Alive does not operate or control in any respect any information, software, products or services available on such web sites. Loans Alive inclusion of a link to a web site does not imply any endorsement of the services or the site, its contents, or its sponsoring organization.
ERRORS AND DELAYS
Loans Alive is not responsible for any errors or delays in responding to a qualification form or referral form caused by an incorrect e-mail address provided by you or other technical problems beyond our reasonable control.
DISPUTE RESOLUTION
Any claim or controversy arising out of or relating to the use of this web site, to the goods or services provided by Loans Alive, or to any acts or omissions for which you may contend Loans Alive is liable, including but not limited to any claim or controversy as to arbitrability ("Dispute"), shall be finally, and exclusively, settled by arbitration. The arbitration shall be held before one arbitrator under the commercial arbitration rules of the American Arbitration Association ("AAA") in force at that time. The arbitration shall be venued in Maricopa County, Arizona. The arbitrator shall be selected pursuant to the AAA rules. Should no AAA rule regarding the selection of an arbitrator be in effect, the consumer shall select an arbitrator from a panel of arbitrators acceptable to Loans Alive. In any arbitration, Loans Alive will pay the filing fee, plus the costs associated with the first day of arbitration, with the remaining costs of arbitration paid by the non-prevailing party, provided, however, that in Maine any cost to the consumer shall be limited to the cost of filing a court case. To begin the arbitration process, a party must make a written demand therefore.
Any judgment upon the award rendered by the arbitrators may be entered in any court of competent jurisdiction in Maricopa County, Arizona. The arbitrators shall not have the power to award damages in connection with any Dispute in excess of actual compensatory damages and shall not multiply actual damages or award consequential, punitive or exemplary damages, and each party irrevocably waives any claim thereto, except in Maine where state law will control all rights and remedies in the arbitration. The agreement to arbitrate shall not be construed as an agreement to the joinder or consolidation of an arbitration under this agreement with an arbitration of disputes or claims of any non-party, regardless of the nature of the issues or disputes involved.
THIS AGREEMENT PROVIDES THAT ALL DISPUTES BETWEEN YOU AND LOANS ALIVE WILL BE RESOLVED BY BINDING ARBITRATION. YOU THUS GIVE UP YOUR RIGHT TO GO TO COURT TO ASSERT OR DEFEND YOUR RIGHTS. YOU ALSO GIVE UP YOUR RIGHT TO PARTICIPATE IN OR BRING CLASS ACTIONS. YOUR RIGHTS WILL BE DETERMINED BY NEUTRAL ARBITRATORS AND NOT A JUDGE OR JURY. You are entitled to a fair hearing, but the arbitration procedures are simpler and more limited than rules applicable in court. Arbitrator decisions are enforceable as any court order and are subject to very limited review by a court. By using Loans Alive goods and services you consent to these restrictions.
Should a Dispute arise and should the arbitration provisions herein become inapplicable or unenforceable, or in any instance of any lawsuit between you and Loans Alive, the parties agree that jurisdiction over and venue of any suit shall be exclusively in the state and federal courts sitting in Maricopa County, Arizona. If either party employs attorneys to enforce any right in connection with any Dispute or lawsuit the prevailing party shall be entitled to recover reasonable attorneys' fees.
OTHER TERMS
This Agreement constitutes the entire agreement between you and Loans Alive and it supersedes all prior or contemporaneous communications, promises and proposals, whether oral, written or electronic, between you and Loans Alive with respect to this web site and information, software, products and services associated with it. This Agreement shall be subject to and construed in accordance with the laws of the State of Arizona, excluding its conflict of laws principles. If any part of this Agreement is determined to be invalid or unenforceable pursuant to applicable law including, but not limited to, the warranty disclaimers and liability limitations set forth above, then the invalid or unenforceable provision will be deemed superseded by a valid enforceable provision that most closely matches the intent of the original provision, and the remainder of the Agreement shall continue in effect. A printed version of this Agreement and of any notice given in electronic form shall be admissible in judicial or administrative proceedings based upon or relating to this Agreement to the same extent and subject to the same conditions as other business documents and records originally generated and maintained in printed form. All rights not expressly granted herein are reserved.
