Mortgage Advisory Group has adopted this statement against Predatory Lending Practices, as well numerous other safeguards and procedures to help insure that our customers receive fair and equitable treatment in the origination of their mortgage.

Mortgage Advisory Group is using Fannie Mae's DO and Freddie Mac's LP on all initial submissions to help expand the products offered to borrowers who have blemished credit histories. The AU systems will recommend approval of a mortgage with a credit-risk pricing adjustment only if such an adjustment is warranted after a comprehensive assessment of all of the risk factors associated with that particular file. Only when we are unable to obtain a conventional, FHA or VA loan approval via the AU systems will we then look at alternative options such as sub-prime financing.

Our goal is to work to reduce consumer costs, break down barriers to homeownership, and serve as a catalyst for financing options. An important component of this goal is to expand the availability of lower-cost mortgage products to consumers who have blemished credit histories and limited savings. Historically, many families have relied on the sub-prime market to meet their financing needs. While many families have been well served by that market, far too many have paid higher costs and prepayment penalties than necessary, and even worse, have experienced abusive lending practices.

Mortgage Advisory Group firmly disapproves of abusive or predatory lending practices by any of its employees, and requires its employees to receive training to recognize predatory lending practices in an effort to prevent them. Mortgage Advisory Group requires all employees to acknowledge and endorse by way of signature our anti-predatory lending policy, and to adhere to practices intended to eliminate such predatory lending and treat all borrowers fairly and equitably. In addition, Mortgage Advisory Group complies with all applicable state and federal laws and regulations, including but not limited to Equal Credit Opportunity Act, the Fair Housing Act, the Fair Credit Reporting Act, Home Mortgage Disclosure Act and the Truth in Lending Act.