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.
| Question | Answer |
|---|---|
| Form Name | Subordination Division |
| Form Length | 2 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 30 sec |
| Other names | chase subordination checklist, chase subordination, chase subordination phone number, chase subordination requirements |
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
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,
Phoenix, AZ 85004
Contact Information
Phone:
Fax:
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 # |
_________________________________________ |
_________________________________________ |
|
_________________________________________ |
|
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 |
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Contact Name |
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________________________________________ |
Contact Phone # |
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(________) _______________________________ |
Contact |
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________________________________________ |
Address to send completed subordination: |
Company:________________________________________ |
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Address: ____________________________________________ |
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____________________________________________ |
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Attention To: _______________________________________ |
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Fax a copy of the completed subordination to: |
(________) _______________________________ |
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Please indicate your institutions billing information for express delivery:
UPS Account #: _______________
If no Account Number or
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.