As part of the loan application process with Norwich Commercial Group, Inc. dba Military Direct Mortgage (“MDM”), MDM requires its customers to provide a good faith deposit in the amount of $400.00 as a demonstration of the commitment to do business with MDM. Depending on the status of a customer’s loan, this deposit may or may not be refundable. If a loan is approved, the deposit will be fully credited to closing costs. This credit will be reflected on the Closing Disclosure. If a loan is denied for any reason, the deposit, less any third-party costs incurred (e.g., appraisal fee, credit report fee), will be refunded. If the loan is withdrawn for any reason, no part of the deposit will be refunded.
Norwich Commercial Group, Inc. dba Military Direct Mortgage (“MDM”) is committed to the highest standards of customer service to loan customers and our business partners. Military Direct Mortgage also understands the importance of protecting the unique financial relationship between its partners and borrowers/customers. For this reason, Military Direct Mortgage agrees to maintain the following commitments:
- Military Direct Mortgage receives and, in some cases, retains information about its customers through many sources. Military Direct Mortgage will limit the use and collection of consumer information to that which is necessary to fulfill its obligations and provide excellent customer service.
- Military Direct Mortgage may need to exchange information about its customers with reputable information reporting agencies, in accordance with industry practices and to verify the existence and/or condition of customers’ accounts. Military Direct Mortgage does not share specific personal information for any other purpose except where required by law. Please note that Military Direct Mortgage may collect information volunteered by a customer during the application process and that information is treated with the same protection as all consumer information.
- When Military Direct Mortgage makes its technology or services available to other business partners, Military Direct Mortgage will not share any more consumer information than is absolutely necessary, and Military Direct Mortgage will make every reasonable effort to assure, by contract or otherwise, that its partners use technology and services in a manner that is consistent with this commitment.