Chase Heloc Subordination Requirements Details

In the business world, it is important to be able to communicate with others in a way that is professional and clear. One way to do this is by using the subordination division form. This form allows you to clearly spell out the subordinate and main clauses in a sentence, making it easier for others to understand. In this blog post, we will discuss what the subordination division form is and how to use it correctly. We will also provide some examples of its use so that you can practice using it yourself.

You will find details about the type of form you intend to fill out in the table. It can tell you just how long it may need to finish subordination division, what fields you will need to fill in and some other specific facts.

QuestionAnswer
Form NameSubordination Division
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other nameschase subordination checklist, chase subordination, chase subordination phone number, chase subordination requirements

Form Preview Example

SUBORDINATION REQUEST CHECKLIST

Fax To: ______________________

Fax #: _____________________

Thank you for your inquiry regarding a Chase Subordination Agreement. The following items are required to process all requests.

1. CHASE SUBORDINATION FEE IS $250.00

Please remit check payable to JPMorgan Chase Bank N.A. to the address listed below. No subordination agreement will be processed until the $250 Subordination Fee is received. If check is sent independently of subordination request, please indicate customer’s name and account number with check.

The $250.00 fee is charged to the First Mortgage Company or Mortgage Broker (Chase approved brokers, see section on worksheet)

The $250.00 fee is non-refundable once the agreement has been processed

2.FULLY COMPLETED SUBORDINATION WORKSHEET (SEE ATTACHED)

3.PRELIMINARY TITLE SEARCH

Complete copy of the NEW title commitment or title search indicating the JPMorgan Chase Bank NA, Bank One NA or Chase Bank NA loan requiring subordination, with recording information. Effective date not to exceed 120 days and must include a legal description.

4. COPY OF APPRAISAL REQUIRED ON ALL CASHOUT REFINANCES

Appraisal must be a FNMA 2055 or higher, and must be dated within the last 60 days. AVM’s, BPO’s and other non licensed appraisal products are not acceptable.

Chase may require an appraisal on a No Cash Out refinance, at its sole discretion

5.COPY OF UNIFORM RESIDENTIAL APPLICATION (FORM 1003) or COMMITMENT LETTER.

6.Please send your complete submission package to:

Chase Home Lending

National Subordination Dept

201 N Central Avenue, 31st Floor, AZ1-1035

Phoenix, AZ 85004

Contact Information

Phone: 877-437-0493 (Monday – Friday, 7:00 AM to 5:00 PM MST)

Fax: 602-221-4847

Chase reserves the right to request additional documentation, including but not limited to a line reduction agreement. Failure to provide Chase with all requested information will result in a decline of the subordination request. Subordinations are approved at the sole discretion of JPMorgan Chase.

This form is effective December 15, 2008. Please discard any previously dated version.

SUBORDINATION WORKSHEET

Primary Borrower Name

_________________________________________

Primary Borrower Social Security #

_________________________________________

Co-Borrower Name

_________________________________________

Co-Borrower Social Security #

_________________________________________

Chase/Bank One Account # to be Subordinated

_________________________________________

Collateral Property Address

_________________________________________

 

_________________________________________

Name of New First Mortgage Company

_________________________________________

(Exactly as it should appear on the subordination agreement)

 

New First Mortgage Amount

_________________________________________

Current First Mortgage Balance

_________________________________________

Original First Mortgage Amount

_________________________________________

If paying down the second mortgage, indicate funds being disbursed to Chase: $______________________

Please Indicate Proposed First Mortgage Terms – All fields must be completed

Cash Out Refinance

Yes___

No___

15, 20 or 30 Year Fixed Rate Note

Yes___

No___

30+ Year Rate Note

Yes___

No___

Interest Only Fixed Rate/ARM

Yes ___

No___ If ARM, indicate Adjustment Period: ______

Fixed Rate ARM

Yes___

No___ If yes, indicate Adjustment Period: _______

Negative Amortization

Yes___

No___

Reverse Mortgage

Yes___

No___

New 1st Mortgage Balloon Note

Yes___

No___

Contact Information – Please type or print clearly to avoid any delays in delivery

Contact Name

 

 

________________________________________

Contact Phone #

 

 

(________) _______________________________

Contact E-mail

 

 

________________________________________

Address to send completed subordination:

Company:________________________________________

 

 

Address: ____________________________________________

 

 

 

____________________________________________

 

 

Attention To: _______________________________________

Fax a copy of the completed subordination to:

(________) _______________________________

Please indicate your institutions billing information for express delivery:

UPS Account #: _______________ Fed-Ex Account #: _______________ Billing Zip Code: _______________

If no Account Number or pre-filled label is provided, the Subordination Agreement will be sent Regular Mail. Expect 7 – 10 business day delivery on all regular mail requests.

For Chase Approved Brokers Only; Please provide your HE BROKER/SOURCE Code: ________________

Chase reserves the right to request additional documentation, including but not limited to a line reduction agreement. Failure to provide Chase with all requested information will result in a decline of the subordination request. Subordinations are approved at the sole discretion of JPMorgan Chase.

This form is effective December 15, 2008. Please discard any previously dated version.