Credit Authorization Form for Loan Officer Abel Medero

CREDIT AUTHORIZATION & EMPLOYMENT VERIFICATION FORM At MIAMI CAPITAL Lending LLC (MCL), we believe in full transparency throughout your homebuying journey. We want to take a moment to explain the purpose of the Credit Authorization & Employment Verification Form and its importance in the mortgage process. This form grants us permission to pull your credit report and obtain necessary verifications, such as employment confirmation, when required. These steps are essential in assessing your financial situation and ensuring that everything is in place for a smooth loan approval. Rest assured, these verifications are conducted solely to facilitate a seamless and efficient mortgage process as we work toward closing on your new home. If you have any questions or concerns regarding this form or any part of the process, please don’t hesitate to reach out. We’re here to assist you every step of the way!

At MIAMI CAPITAL Lending LLC, we believe in transparency throughout the mortgage process. While you are not required to pay for your credit report upfront, these fees will be included in your final closing costs. When you receive your Loan Estimate, you will see an estimated cost for pulling your credit report. Once we reach the final Closing Disclosure, this amount will be updated to reflect the actual expenses incurred. By selecting the Credit Report option above, you authorize MIAMI CAPITAL Lending LLC to access your credit report for the purpose of evaluating your mortgage loan application. We obtain credit information through Credco/CoreLogic or Premium Credit Bureau. The associated fees are as follows: Credit Report Fee & Desktop Underwriter (DU) Findings Fee: $90.00 for individual borrowers Up to $180.00 for joint applications (e.g., applying with a spouse) Once your loan is submitted to underwriting, any additional credit-related charges will be due at closing. This may include: Credit supplements & rapid rescoring: Up to $60.00 per credit liability, per credit bureau update These fees are charged by credit reporting agencies, and MIAMI CAPITAL Lending LLC does not control their costs. We ensure that all charges comply with applicable state and federal laws, including: The Fair Credit Reporting Act (FCRA) The Truth in Lending Act (TILA) Other relevant regulations If you have any questions about these fees or how they are applied, please feel free to reach out. Our team is committed to keeping you informed at every step of the process.

As part of the mortgage application process, we are required to complete a Verification of Employment (VOE) to confirm your employment and income details. Many employers utilize third-party verification services to handle this process securely and efficiently. The most commonly used providers include The Work Number, InVerify, and Truework, though your employer may use a different service. Please be advised that the third-party verification provider charges a fee for their service. These fees are not being charged at this time but will be disclosed on the Loan Estimate and updated accordingly in the Final Closing Disclosure for your loan. Unfortunately, the verification process is determined by your employer, and we are required to follow their preferred method. We understand that these additional steps may be unexpected, but please know that this is a standard part of the employment verification process for many companies. If you have any questions regarding this process, please do not hesitate to reach out.