Are you a business owner in Maryland? Do you need to understand the finer details behind net tangible benefit worksheet forms for your operations in the state? Then this blog post is for you! Here, we discuss net tangible benefit worksheet forms, what they are used for, and how adhering to them can help ensure that businesses remain compliant with all applicable regulations. Throughout, we provide an overview of all relevant topics and answer any questions related to the form that may arise during your research. Read on if you would like an in-depth overview of Maryland's Net Tangible Benefit Worksheet Form!
Question | Answer |
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Form Name | Maryland Net Tangible Benefit Worksheet Form |
Form Length | 2 pages |
Fillable? | No |
Fillable fields | 0 |
Avg. time to fill out | 30 sec |
Other names | md commissioner of financial regulation ntb worksheet, maryland net benefit, state of maryland net tangible benefit form, maryland net benefit worksheet |
S T A T E O F M A R Y L A N D
COMMISSIONER OF FINANCIAL REGULATION
500 North Calvert Street, Suite 402
Baltimore, Maryland 21202
Net Tangible Benefit Worksheet
This Net Tangible Benefit Worksheet has been prescribed by the Commissioner of Financial Regulation in conformity with COMAR 09.03.06.20 and COMAR 09.03.09.04 (Duty of Care). Persons complying with these regulations shall use a form substantially similar to this form.
All information must be typed or printed.
This form shall be maintained in the broker/lender
licensee’s loan files pursuant to COMAR 09.03.06.04 “Records”.
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Mortgage |
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I/We, the undersigned borrower(s), plan to enter into a transaction which refinances one or more existing mortgage loans with a new mortgage loan secured by my/our home located at:
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NTBW
Page 1
Rev. 11/12/08
I/We acknowledge that:
I/We understand the costs associated with the new loan;
The new loan may have different terms (including duration of term and rate of interest) than my/our existing loan(s); and
The new loan will provide a reasonable, tangible net benefit to me/us after taking into account the terms of both the new and existing loan(s), the cost of the new loan, and my/our particular circumstances.
By refinancing my/our existing loan(s), the following benefits apply to me/us (each borrower should initial any benefit that applies):
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______ Obtaining a lower interest rate. |
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______ Obtaining a lower monthly payment, including principal, interest, taxes, and insurance. |
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______ Obtaining a shorter amortization schedule. |
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______ Changing from an adjustable rate to a fixed rate. |
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______ Eliminating a negative amortization feature. |
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______ Eliminating a balloon payment feature. |
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______ Receiving |
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connection with the loan. |
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______ Avoiding foreclosure. |
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______ Eliminating private mortgage insurance. |
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______ Consolidating other existing loans into a new mortgage loan. |
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______ Other (please specify): ________________________________________________________ |
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I/We have considered the terms of both the existing and new loans, the cost of the new loan, and my/our personal circumstances. I/We believe the overall benefits of the new loan make the new loan beneficial to me/us for the reason or reasons identified above. By signing below, I/we certify that I/we have read and understand this Net Tangible Benefits Worksheet.
Borrower: ____________________________________________ |
Date: _____________________ |
Borrower: ____________________________________________ |
Date: _____________________ |
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Rev. 11/12/08 |