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Wholesale Mortgage Broker Application Kit Multi-Family Lending Revised 8-2-2010 EAST WEST BANK WHOLESALE MORTGAGE BROKER APPLICATION INSTRUCTIONS We welcome your application to become an approved Wholesale Mortgage Broker. EAST WEST BANK, a California Bank was chartered in 1972, and has been proudly serving California for over 48 years, with its corporate offices located in Pasadena, California EAST WEST was the nation’s first federally-chartered saving institution focused primarily on serving the Chinese-American community. The Bank opened its first branch office in Los Angeles, on January 3, 1973. The bank has been expanding continuously ever since and now operates 130 branches nationwide, with over $20 billion dollars in assets. The Banks strategy is to provide you with superior service, competitive pricing and products to meet your borrowers’ needs. To us SERVICE, PRICE and PRODUCT says it all. Follow the steps outlined below to become an approved EAST WEST BANK mortgage broker: 1. Please read and complete the Application Package; which includes: a) Mortgage Broker Application (and all requested attachments) b) Broker Agreement c) Mortgage-Brokerage-Addendum d) Corporate Resolution e) Completed IRS W-9 Form f) Quality Control / Compliance Statement or internal Quality Control Procedures g) Loan Fraud "Zero Tolerance" Statement 2. When completed, please return items along with the following items, to your respective Account Executive or Local Branch Office: a) Introduction of your company b) Resume of all principals c) Articles of Incorporation d) Copy of appropriate broker's license. Need Officer's and Personal/Individual Broker's license reflecting D.B.A. name also. e) Most recent financial statements (balance sheet & income statement for last quarter) f) Copy of business license g Fictitious Name/Trade Style Filing (if applicable) Again, thank you for your participation and we know that you will be very satisfied in doing business with EAST WEST BANK. Broker Application Instructions 07/2010 EAST WEST BANK Residential Lending Division 3 TIPS FOR LIGHTNING FAST LOAN APPROVAL EWB has developed the following TIPS to help you insure LIGHTNING fast approval of your loan submissions. 1. Use our Loan Submission Sheet! All loans must be submitted using EWB Loan Submission Data Sheet. This will save us the time of calling your office for critical information regarding loan types, rate or program questions. Always try and fill-in all the information requested, especially the program code/product type and type of loan documentation you are submitting. 2. Always use a cover letter! The cover letter will help us better understand your loan, and give you the opportunity to explain anything unusual. Tell us why this loan makes sense and should be approved. 3. Always number your conditions! When sending prior to approval, prior to document or prior to fund conditions use our condition cover sheet and always number the conditions with the corresponding condition from our approval. This helps us quickly sign off the condition, especially if you have sent us something that meets the condition, but is not exactly what we asked for. BACK TO BASICS 1. Complete the handwritten application Try to fill in any blanks, use the application as your guide to processing the loan, verify the information provided in the application 2. Keep like items together e.g. all items pertaining to the credit report or credit history together, all asset or deposit information together. 3. Answer underwriting questions before they are asked. Credit Problems? Provide a letter of explanation and/or back-up documentation. Large increase in account balances? Document the source of the increase. All letters of explanation should come from the borrower! 4. Completeness counts! Was the borrower divorced? Provide complete copy of divorce decree. Changed Jobs? Provide all VOE's and a gap of employment letter if necessary Self-employed? Provide complete 1040's for 2 years & current YTD P&L Partnership? Provide all K1's for 2 years. Big holes in the file only make the Underwriter ask more questions! 5. Don't be afraid to call Want to know if you need something, or want to know what you need? Call us! 6. Organize the file The more complex the loan, the more you need to follow a system. i.e. Credit: Follow the order of the credit report, Multiple Properties: all information for each property organized together in order. 7. Informative cover letter Again, cover letters are important. An informative summary of the loan really helps because: a. The underwriter won't be surprised b. The underwriter will immediately understand the issue. C. You tell the underwriter what makes the file a good one or what good factors balance out the glitches. EWBLAK8 REV. 2/24/97 EAST WEST BANK WHOLESALE MORTGAGE BROKER APPLICATION APPLICANT Legal Name of Firm Doing Business As (D.B.A.) Street Address City/State Zip TeleFax Number Telephone Primary Officer (1) S.S. # Home Address/City/State/Zip Primary Officer (2) S.S. # Home Address/City/State/Zip Underwriters Name Processors Name Organized & Existing under the law of (State) Organized on (Date) Sole Proprietorship Partnership Corporation If a Corporation, is it subsidiary of, or controlled by, another entity? If yes, by whom: Licensed to originate mortgage loans within the state(s) of Licensee License Number What % of ownership in company is held by licensee? Telephone number of licensing authority List primary officers and/or owners Name Title % Owned Name Title % Owned Name Title % Owned GENERAL Please answer the following questions: EWBLAK3 REV. 10/31/2007 QUESTIONS a. Approved as a FNMA Seller/Servicer? Yes No Seller #__________ b. Approved as a FHLMC Seller/Servicer? Yes No Seller #__________ c. Approved as a VA/FHA Direct Lender? Yes No Seller #__________ d. A Subsidiary of a Builder or Developer Yes No e. Have any Officers, Directors or Principals ever had their real estate license revoked, suspended or denied by the California Department of Real Estate? Yes No f. Has your company had any unfavorable findings with regard to mortgage operations, servicing, or production in any audit, examination or investigative agency? Yes No g. Has your firm or licensee had any formal complaints filed against it with the state within the last three years? (Attach explanation if Yes) Yes No h. Is there any pending litigation with either Principals or Company?(Attach explanation if Yes) Yes No i. Has your company ever been suspended from brokering loans to a lender? Yes No j. Does your company have an internal audit system to verify authenticity of the information contained in your loan files?(provide copy a of your procedures) Yes No INSURANCE Insurance Coverage Amount Carrier Deductible Fidelity - Individual Fidelity - Blanket Error & Omissions BRANCHES Address City Zip Phone Fax Branch Mgr. Name Address City Zip Phone Fax Branch Mgr. Name Address City Zip Phone Fax Branch Mgr. Name HISTORY Current Month Year - To - Date Last Calendar Year # $ # $ # $ Applications Fundings EWBLAK3 REV. 10/31/2007 LENDER Company Name Contact Person Phone Number REFERENCES The undersigned declares, represents and warrants that, to the best of their knowledge, the statements set forth herein are true and correct. EAST WEST BANK is hereby authorized to obtain verification from any source named herein or at EAST WEST BANK’S discretion to obtain a credit report from a national credit reporting agency. It is agreed that this Application, when approved, shall be attached to and become a part of the Broker Agreement with EAST WEST BANK. EAST WEST BANK agrees that any financial information provided by the Originating Lender on this application form will be treated as confidential and not be released (except in summary form without any identification of a particular Lender) to any third party unrelated to EAST WEST BANK, without first obtaining Originating Lender's consent or pursuant court or administrative order requiring such a release. NOTICE You have the right to obtain, within 60 days, a free copy of your consumer credit report from the consumer reporting agency named above and from any consumer credit agency that compiles and maintains files on a nationwide basis. You also have the right under California Civil Code Section 1785.16 to dispute the accuracy or completeness of any information in a consumer credit report furnished by a consumer credit report agency. This application alone does not legally bind Originating Lender to participating in the Wholesale Loan Program, but indicates intent to participate. Originating Lender_____________________________________________Date__________ (name of company) By___________________________________________________Title__________________________ (Authorized person's name, please print) ______________________________________________________ (Signature) EWBLAK3 REV. 10/31/2007 EAST WEST BANK Broker Agreement This Broker Agreement (the "Agreement") is entered into by and between EAST WEST BANK ("EWB"), a California Bank and (“Broker”) _________________________________________________________________________________________ Recitals A. The parties wish to establish a nonexclusive relationship whereby Broker will submit application packages for mortgage loans ("Loans") to EWB on behalf of Broker's clients ("Borrowers") for possible funding. B. The parties now desire to enter this Agreement to set forth the terms of their relationship. NOW, THEREFORE, the parties agree to as follows: Agreement 1. General Broker Responsibility. Broker will at Broker's sole expense; (a) submit to EWB loan application packages for Borrowers which fully satisfy, in both form and content the then existing programs, procedures, and fee schedules as EWB periodically may establish; (b) furnish EWB all Borrower(s) credit, financial, and other information as EWB may require; (c) provide such information as EWB may reasonably request to assist EWB in marketing the Loans to secondary market investors; (d) perform such other services as EWB shall require to close the Loan(s). The contents of all Loan packages submitted to EWB shall immediately become the property of EWB and subject to independent verification of borrower(s) loan credit report, financial and other Loan documentation. Broker may request the return of any submitted file upon the cancellation by the Broker or denial by EWB of said loan, and that request shall be granted except in specific instances where documentation within said file is determined, in EWB's sole opinion, to be untrue or false. In such case EWB shall retain the original file as part of it's quality control procedures. 2. Loan Approval. Loan approval shall be within EWB sole and absolute discretion. Broker shall not in any way represent or imply to any person that EWB has approved or will approve any Loan until Broker is so informed in writing. All Loans shall close in EWB's name. 3. Appraisals. Broker acknowledges that each loan package submitted to EWB must include an appraisal of the collateral for the proposed loan, which appraisal must (1) conform to all appraisal standards and requirements imposed by law, and such additional requirements as may be imposed by EWB from time to time, and (2) be prepared by an appraiser who (a) is on the EWB’s Approved Appraisers List, (b) has been engaged directly by EWB or by EWB’ agent for such limited purpose and (c) has no direct or indirect interest in the proposed loan or the collateral. Broker shall not provide an appraiser with any information that may influence the appraiser or in any way suggest the collateral’s value. Appraisal performed by a non-Bank approved appraiser may be subject to rejection by EWB or subject to desk or field review. 4. Fees. Any fee, commission, or other consideration payable to Broker with respect to any Loan shall be paid only after EWB deducts from net Loan proceeds all of its fees and charges. No fee shall be owed to Broker on account of any proposed Loan which is not funded and closed, and EWB shall have no obligation under this Agreement to the Broker if a Loan fails to close and fund, for whatever reason. All fees due Broker shall be paid within ten (10) days of loan closing and recording, unless the Broker is notified in writing within seven (7) business days of closing and recording the reason payment of fee's are being delayed. 5. Pricing. To ensure compliance with the California’s Predatory Lending Law, East West Bank prohibits the origination of “HIGH COST MORTGAGES” as defined by California Bill AB489, Section 32 of the Truth in Lending Act or any other term used in other bills, laws, acts, statutes, etc. enacted by any state, city, county or other entity. East West Bank also limits the number of points and fees charged to the borrower to a combined maximum of 3.50%. This includes all broker points and charges, lender fees, and pre-paid finance charges. East West Bank prohibits origination and submission of these loans even if the loan includes a “waiver” or “acknowledgement” of some type executed by the borrowers. Broker Agreement 06-2009 Page 1 of 6 Int.______ Int.______ 6. Rate Locks. Broker acknowledges that EWB is not obligated to honor any rate lock requests submitted by Broker unless the rate lock requests are submitted in writing, are for the exact same terms and conditions under which the submitted loan was approved by EWB and are otherwise consistent with EWB daily rate sheet for the loan program requested. Broker further acknowledges that any request for a change in the terms of any loan approved by EWB must be requested in writing and must be submitted for review and approval by EWB’s underwriting, before any rate lock request consistent with that change may be acted upon by EWB. Broker shall not communicate to a loan applicant or rely upon any verbal loan authorization or approval, change in terms, or rate lock confirmation received unless the same is expressly set forth in writing and signed by an authorized representative of EWB. 6.1 Rate Sheet/Product Information Distribution. Broker acknowledges by entering into this Agreement that it affirmatively grants permission for EWB to distribute by any electronic means (facsimile or e-mail) its daily rate sheets as well as any and all loan program information unless otherwise notified in writing that Broker does not wish to receive such information so distributed in this manner. This permission is granted to ensure compliance with both federal and state regulations as they relate to CAN-SPAM or Do Not Fax requirements. 7. Broker's Warranties. Broker represents and warrants to EWB, as of (i) the time any Loan package is submitted to EWB, and (ii) as of the time the loan is funded and closed, that: 7.1 No Untrue Statements. None of the statements or information contained in any document submitted with or included as part of the application package, or in any document review in connection with EWB's underwriting decision, contains or will contain any misleading, false or erroneous statements, or omit material facts necessary to make such statements or information accurate and understandable in every respect. BROKER UNDERSTANDS THAT BY MAKING THE WARRANTY CONTAINED IN THIS SUBPARAGRAPH 4.1 IT IS WARRANTING TO THE BEST OF THE BROKER’S KNOWLEDGE THE ACCURACY OF ALL INFORMATION CONTAINED IN ANY LOAN PACKAGE SUBMITTED TO EWB BY SAID BROKER. 7.2 Absence of Claims. Except as previously disclosed by Broker to EWB in writing, there is no pending or threat of any suit, action, arbitration, or legal, administrative, or other proceeding or governmental investigation (including an allegation of fraud by another lender) against Broker or its current or former owners, agents, or employees which could have a materially adverse effect on the Broker's business, assets, financial condition, or reputation, or upon any Loan submitted for funding, or previously funded, by EWB. 7.3 Control of Documents. No Borrower shall have had in its direct or indirect possession or control any credit, income, or deposit verification document submitted to EWB with respect to any Loan. 7.4 Duly Licensed. Broker possesses all necessary licenses, permits, and authority to engage in the activities contemplated by this Agreement, and Broker is in full compliance in all respects, and in good standing, with all regulatory and supervisory agencies having jurisdiction over Broker. 7.5 Ownership. Except as otherwise disclosed to EWB in writing before the funding of any Loan, Broker shall have no direct or indirect ownership interest in any property acting as security for the Loan, or affiliation or relationship with any other party having a financial interest in the Loan or the Loan transaction. 7.6 Compliance with Laws. Broker has complied and will comply with all applicable state and federal laws with respect to the Loans and the activities of Broker, including, among others, the requirements of the California Department of Real Estate ("CDRE") relating to DRE Form 882 (or such other disclosure form as may be promulgated by the CDRE regarding the estimates of costs and expenses to be incurred by the borrower) if Broker is a licensed California Real Estate Broker, the requirements of Title V of the Gramm-Leach-Bliley Act and the interagency regulations thereunder regarding consumer financial privacy and the safeguarding of consumer financial information, the Federal Truth-In-Lending Act Regulation Z regarding the delivery of a good faith estimate of settlement costs, the Real Estate Settlement and Procedures Act, the Federal Fair Credit reporting Act, the Federal Equal Credit Opportunity Act and Regulation B and other state and federal regulations as promulgated by the respective governing agencies or laws. Broker is fully knowledgeable of the applicable fair lending laws and will comply with all fair lending laws and regulations. Broker Agreement 06-2009 Page 2 of 6 Int.______ Int.______ 7.7 No Suspension. Broker has not been the subject of any claim by any third party for acts which would constitute grounds for suspension of a real estate broker's license by the California Department of Real Estate, if applicable, or other agency of the state where licensed, nor has Broker, or to the best of Broker's knowledge, or any person known by Broker to have been involved in the Loan transaction, been suspended from doing business with any mortgage lender. 7.8 Salability Requirements. Broker has no knowledge of any circumstances or conditions with respect to any loan, mortgaged property or mortgagor's credit standing that can be reasonable expected to cause any governmental, quasi-governmental or private institutional investor to regard any loan as an unacceptable investment, cause any loan to become delinquent, or adversely affect the value or marketability of any loan. 7.9 HUD Compensation Eligibility: Broker warrants that it will perform each of the following settlement services on every loan submitted to EWB to allow them to qualify under Section 8 of RESPA as eligible to be compensated for the services provided. a) Taking information from the borrower and filling out the application; b) Analyzing the prospective borrower’s income and debt and pre-qualifying the prospective borrower to determine the maximum mortgage that the prospective borrower can afford; c) Educating the prospective borrower in the home buying and financing process, advising the borrower about the different types of loan products available, and demonstrating how closing costs and monthly payments could vary under each product; d) Collecting financial information (tax returns, bank statements) and other related documents that are part of the application process; e) Providing disclosures (truth in lending, good faith estimate, others) to the borrower; f) Assisting the borrower in understanding and clearing credit problems; g) Maintaining regular contact with the borrower, realtors, lender, between application and closing to apprise them of the status of the application and gather any additional information as needed. Broker also warrants that they gave the borrower the opportunity to consider products from at least three different lenders, that they would receive the same compensation regardless of which lender's products were ultimately selected and that any payment made for "counseling-type services" is reasonably related to the services performed and not based on the amount of loan business referred to a particular lender. 8. Status of Broker. Nothing in this Agreement shall be construed as making the Broker a joint venture, partner, representative, employee or agent of EWB. Broker shall not hold itself out as such, nor shall it use EWB's name in any advertising. Broker is an independent contractor; provided, however, that EWB hereby appoints Broker as its "special agent" within the meaning of California Civil Code Section 2297, for the sole and limited purpose of directly engaging an appraiser to conduct and complete an appraisal in accordance with the Code of Federal Regulations (CFR) Part 564, which states appraiser has no direct or indirect interest, financial or otherwise, in the property or loan transaction for which the appraisal is prepared if Broker is licensed as a California Real Estate Broker. Except as specifically provided herein, Broker shall have no power or authority to undertake any other act or transaction on behalf of EWB. 9. Broker's Indemnification. Broker shall indemnify and hold EWB and its parent entity, affiliates, shareholders, directors, officers, agents, employees, successors, and assigns harmless from and against, and shall reimburse the same with respect to, any and all losses, damages, liabilities, costs, and expenses, including reasonable attorneys fees, from any cause whatsoever, incurred by reason of or arising out of or in connection with; (a) any breach of any representation or warranty contained in Section 4 above, (b) Broker's failure to perform any obligation hereunder, or (c) any claim by a Borrower resulting from EWB's failure or refusal to fund a loan (collectively "Losses") for which it has validly issued a loan approval and an agreement to fund. Without limiting the generality of the foregoing, Broker's indemnity shall extend to all repurchase demands of any third party to which EWB has sold any loan. Broker's obligation to indemnify EWB under this Agreement shall arise upon (aa) EWB's notification of Broker that a Loss has occurred or (bb) automatically upon EWB's receipt of a Loan repurchase demand from a secondary market investor which EWB determines in its sole and absolute discretion to be enforceable and is a result of a cause, as described in item (a) or (b) above. Broker Agreement 06-2009 Page 3 of 6 Int.______ Int.______ 10. EAST WEST BANK’S Rights. Broker's obligation to fully indemnify EWB under this Agreement shall not be affected by EWB's taking any of the following action with or without notice to Broker: (a) liquidation, repayment, retirement, or sale or resale of any Loan; (b) foreclosure of any Loan; or (c) sale or resale of the property securing any Loan. 11. Disclosure of Information. Broker acknowledges and agrees that EWB may report instances of Broker making any material misstatement in connection with a Loan, or Broker's knowingly aiding a Borrower to do the same, to appropriate state or federal regulatory authorities or law enforcement agencies. 12. Governing Law. This Agreement shall be governed by the laws of the state of California. 13. Miscellaneous. 13.1 Contact with Borrower. Broker acknowledges that EWB may contact the borrower, the borrower’s employer, real estate agent, or anyone else involved with the particular loan file any time after the loan application is received by EWB. 13.2 Prompt Notice of Broker’s Receipt of Right to Cancel. Upon receipt of a loan cancellation notice from an applicant, Broker shall immediately forward the notice to the assigned EWB Account Executive. 13.3 Right of Offset. Amounts owed by Broker to EWB under this Agreement may, at EWB reasonable discretion, be offset by EWB against any payments then or thereafter owed by EWB to Broker. 13.4 Notices. All notices required hereunder shall be in writing and shall be deemed to have been given, made, and received only (a) upon delivery, if personally delivered to a party; (b) one business day after the date of dispatch, if by facsimile transmission; (c) one business day after deposit, if delivered by a nationally recognized courier service offering guaranteed overnight delivery; or (d) three business days after deposit in the United States first class mail, certified mail, postage prepaid, return receipt requested, at the addresses appearing below. 13.5 Attorney's Fees. If any legal action or other proceeding is brought forth for the enforcement of this Agreement, or because of an alleged dispute, breach, default, or misrepresentation in connection with any of the provisions of this Agreement, the prevailing party or parties shall be entitled to reasonable attorneys' fees and other costs incurred in that action or proceeding, in addition to any other relief to which it or they may be entitled. 13.6 Assignment. Broker may not assign this Agreement or its duties hereunder. 13.7 Entire Agreement, Amendment. This Agreement constitutes the entire Agreement between the parties and supersedes all prior and contemporaneous agreements, representations, and understandings. No supplement, modification or amendment shall be binding unless executed in writing by both parties. 13.8 Waivers, Remedies. Failure or delay to audit any Loan prior to funding and closing, or to exercise any right or remedy available under this Agreement, or at law or equity, shall not act as a waiver of any other right or remedy nor shall any single or partial exercise of any right preclude any other or further exercise thereof. No waiver of any of the provisions of this Agreement shall be deemed, or shall constitute, a waiver of any other provision, whether or not similar, nor shall any waiver constitute a continuing waiver. No waiver shall be binding unless executed in writing by the party making the waiver. All remedies shall be cumulative and nonexclusive. 13.9 Partial Invalidity. If any provision of this Agreement is held invalid, void, or unenforceable, the remaining provisions shall nevertheless continue in full force and effect. 13.10 Further Assurances. Each party shall perform any further acts and execute and deliver any documents that may be reasonably necessary to carry out the provisions of this Agreement. Upon cancellation or denial of a Loan file by EWB, the Broker agrees to reimburse EWB for all out of pocket expenses such as, but not limited to, review appraisals and Loan documents, before the file will be returned. Broker Agreement 06-2009 Page 4 of 6 Int.______ Int.______ 13.11 Refinance or Solicitation. Broker agrees not to solicit for refinance any Mortgage Loan subject to this Agreement for a period of Three (3) months from the closing date of said Mortgage Loan. 13.12 Cancellation Fees. The Broker is responsible for notifying EWB of any cancellation on the loan at the time of cancellation. A reason for the cancellation must be given at the time of cancellation. If the loan is cancelled for reasons other than an underwriting denial by EWB, the loan will be subject to a cancellation fee equal to the total cost of the pair off fee incurred with its investor. Loans which have yet to lock-in will not be subject to a cancellation fee. 13.13 Termination of Agreement. Either party hereto shall have the right to terminate this agreement at any time by sending written notice to the other party by certified mail, registered, or express mail return receipt requested. Either party may terminate this agreement for any reason in its sole and absolute discretion for any reason or no reason, including but not limited to EWB’s termination for an unacceptable delinquency rate on Loans submitted by Broker to EWB. Termination shall be effective as of the date of the receipt of the written notice, but shall not affect any existing commitment from either party to the other. Termination of the Agreement shall not affect the obligation of the parties with respect to Mortgage Loans for which a lock-in has been established and has not expired. Termination of this Agreement shall not affect the obligations of the parties with respect to Mortgage Loans that have been closed, nor shall such termination affect the duties of the Broker in connection with the closing of Mortgage Loans, the delivery obligations following Mortgage Loan closing, or Broker's representations and warranties with respect to closed Mortgage Loans. In the event termination of the Agreement is for cause (cause shall include without limitation Broker's breach of this Agreement, Broker's non-compliance with agency guidelines, any misrepresentations contained in any credit package, or any other action by Broker that shall cause EWB damages as a result of a breach of any representation or warranty) EWB shall retain all remedies granted hereunder and other remedies allowed by law, all of which remedies shall be cumulative. The provisions set forth above shall apply to a termination for cause provided, however, that EWB reserves the right to refuse to purchase, close, and/or fund any Mortgage Loan not yet closed as of the date of termination. Entered into at__________________________________(City), County, California, effective _______________________, 200____. (Signature) BROKER NAME _______________________________________________ EAST WEST BANK 9300 Flair Drive, 5th Floor Address:________________________________________ El Monte, CA 917311 _______________________________________________ By: (Signature) By:____________________________________________ By: (Print Name/ Title) (Print Name/Title) By:____________________________________________ Broker Agreement 06-2009 Page 5 of 6 Int.______ Int.______ ACKNOWLEDGEMENT OF BROKER and LOAN SUBMISSION ACKNOWLEDGEMENT PRIOR TO BROKER APPROVAL The undersigned is the Broker's designated broker under California Business and Professions Code Section 10211 or other State or Federal regulating agencies of the Brokers state of activity. The undersigned hereby acknowledges and certifies to EAST WEST BANK that he/she (a) has read and understands the foregoing Broker Agreement and (b) will abide by its terms in accordance with California law governing real estate brokers and all regulations of the California Department of Real Estate or other local, state or federal regulating agency issued thereunder. The undersigned broker wishes to submit loans to EAST WEST BANK (EWB). The broker understands that they are not currently approved as a Mortgage Broker by EWB and it is their responsibility to complete the EWB Wholesale Broker Application Kit, submit the required information and meet EWB's criteria for approval. EWB is under no obligation to fund a loan if the broker has not complied with EWB's request or if they are rejected for any reason for participation in the program by EWB. BROKER NAME ____________________________________________ By:_________________________________________ (Print Name/ Title) By:________________________________________ (Signature) Page 6 of 6 CORPORATE RESOLUTION Pursuant to a Resolution adopted by Company Name The Board of Directors on , Date Unanimously resolved that , Name Title is authorized to enter into Contracts/Agreements to facilitate the business of the Corporation and may delegate his Authority as appropriate. Accordingly I , of Name Title a Corporation Company State do hereby certify that as is Name Title empowered to execute documents binding the Corporation, with regards to the Brokering or Sale of Mortgage Loans to East West Bank. Witness my hand and seal of office this day of , 200 . Secretary CORPORATE SEAL REQUIRED QUALITY CONTROL/COMPLIANCE Overview EAST WEST BANK conducts business with certain Wholesale Brokers (“Brokers”) to increase its market share and expand its source of production. These loans are originated under EAST WEST BANK loan programs. The loan must be underwritten to EAST WEST BANK guidelines and must meet minimum quality control guidelines as prescribed by the Federal National Mortgage Association and/or Federal Home Loan Mortgage Corporation, HUD/FHA/VA and other private investors as prescribed by EAST WEST BANK. The broker, by signing below agrees to maintain a quality control system as described below; QUALITY CONTROL/COMPLIANCE OPERATION A. All loan files are locked in a file cabinet whenever the processor leaves his/her/their work area. If the file(s) are removed a log is kept indicating the date the file was checked out, by whom and when received back to the processor. B. All credit reports are ordered from companies that comply to the Fair Credit reporting Act, HUD/FHA, VA, FNMA, and FHLMC regulations and all applicable state laws. All credit reports collect and contain information from at least two (2) national credit repositories, and public records. Should any derogatory credit items be reported, a copy of the credit report is mailed to the applicant. No copy of the credit report is released to any other person that is not the Lender and Applicant. Any discussion pertaining to the credit report by the borrower is referred to the credit reporting agency. C. All appraisals are performed by a state licensed/certified appraiser who is licensed by the appropriate state licensing agency, and is in good standing. D. All verifications of employment and deposit/asset are mailed directly to appropriate company. No verifications are hand carried by an employee of the Broker. E. Telephone verification of employment, banking relationships and asset verifications are performed on all alternative and reduced documentation loans. This is not limited to review of telephone book research, contacting directory assistance and professional agencies to verify accuracy of the loan application information. F. All appropriate loan disclosures are provided to the applicant within the prescribed seventy-two (72) hours from loan application. This includes but is not to the Fair Lending Notice, Good Faith Estimate of Settlement, Mortgage loan Program Disclosure, and Regulation Z/Truth-in-Lending and other disclosures as required by state and federal law. G. All loan applications received are date stamped the day received. H. All copies of documentation furnished by the borrower are stamped as a certified copy of the original document. I. All loan applicants receive a written notice of disposition whether the loan is declined or approved upon rendering a credit decision and were made in compliance with fair lending rules. J. All loans are processed to meet HUD/FHA, VA, FHLMC, FNMA or private investor guidelines. K. All loans will conform to EAST WEST BANK regulatory compliance, fair lending and anti-predatory lending policies. We agree to maintain a quality control system similar to the one described above or greater. ______________________________________ ___________________________________________ Signature Broker name ______________________________________ ___________________________________________ Print Name & Title Date (:%/$. 5(9 EAST WEST BANK “LOAN FRAUD ZERO TOLERANCE” All approved Wholesale Loan Brokers of EAST WEST BANK must be aware that the licensed real estate broker bears the responsibility for all actions of his or her employees or licensees. The Broker is responsible for the content and quality of each application taken and each loan submitted to EAST WEST BANK. The submission of a loan application containing false information is a crime! TYPES OF LOAN FRAUD Loan fraud means a misstatement, misrepresentation, or omission relied upon to fund or purchase a loan. Loan fraud includes, but is not limited to, false information as to identification and employment documents, fraudulent appraisals, misrepresentation of borrower funds, and property flipping where designed to inflate falsely property value. Loan fraud may be perpetrated in many forms. Some common examples are: submission of inaccurate information, including false statements on loan application(s) and falsification of documents purporting to substantiate credit, employment, deposit and asset information, personal information including identity, ownership/non-ownership of real property, etc.; the alteration or forgery of information; incorrect statements regarding current occupancy or intent to maintain minimum continuing occupancy as stated in the security instruments; non-disclosure of relevant information; lack of due diligence by where information is known to be, or should be suspected to be, inaccurate, which might for example occur by simultaneous or consecutive processing of multiple owner-occupied loans from one applicant on multiple properties, or from one applicant supplying different information on each application. CONSEQUENCES The effects of ‘Loan Fraud” is costly to all parties involved. East West Bank must stand behind the quality of their loan production. Fraudulent loans cannot be sold in the secondary market and if sold, will require repurchase by East West Bank. Fraudulent loans, damage East West Bank’s reputation with its investors and mortgage insurance providers. The price paid by those who participate in “Loan Fraud” is even more costly. Following is a list of a few of the potential consequences that may incur: CONSEQUENCES TO BROKER 1. Criminal prosecution. 2. Loss of Real Estate Broker’s License. 3. Loss of lender access due to exchange of information between leaders, mortgage insurance companies, investors, law enforcement agencies, and others. 4. Civil action by East West Bank and/or by applicant/borrower. 5. Loss of approval status by East West Bank. We agree to the foregoing and understand East West Bank’s position on “Loan Fraud.” Date: ____________________ Broker Name: ____________________________ By: _____________________________________ Name: ___________________________________ Title: ____________________________________ 06/15/06 Form (Rev. October 2007) W-9 Request for Taxpayer Give form to the requester. Do not Department of the Treasury Identification Number and Certification send to the IRS. Internal Revenue Service Name (as shown on your income tax return) See Specific Instructions on page 2. Business name, if different from above Print or type Check appropriate box: Individual/Sole proprietor Corporation Partnership Exempt Limited liability company. Enter the tax classification (D=disregarded entity, C=corporation, P=partnership) payee Other (see instructions) Address (number, street, and apt. or suite no.) Requester’s name and address (optional) City, state, and ZIP code List account number(s) here (optional) Part I Taxpayer Identification Number (TIN) Enter your TIN in the appropriate box. The TIN provided must match the name given on Line 1 to avoid Social security number backup withholding. For individuals, this is your social security number (SSN). However, for a resident alien, sole proprietor, or disregarded entity, see the Part I instructions on page 3. For other entities, it is your employer identification number (EIN). If you do not have a number, see How to get a TIN on page 3. or Note. If the account is in more than one name, see the chart on page 4 for guidelines on whose Employer identification number number to enter. Part II Certification Under penalties of perjury, I certify that: 1. The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me), and 2. I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified me that I am no longer subject to backup withholding, and 3. I am a U.S. citizen or other U.S. person (defined below). Certification instructions. You must cross out item 2 above if you have been notified by the IRS that you are currently subject to backup withholding because you have failed to report all interest and dividends on your tax return. For real estate transactions, item 2 does not apply. For mortgage interest paid, acquisition or abandonment of secured property, cancellation of debt, contributions to an individual retirement arrangement (IRA), and generally, payments other than interest and dividends, you are not required to sign the Certification, but you must provide your correct TIN. See the instructions on page 4. Sign Signature of Here U.S. person Date General Instructions Definition of a U.S. person. For federal tax purposes, you are considered a U.S. person if you are: Section references are to the Internal Revenue Code unless otherwise noted. ● An individual who is a U.S. citizen or U.S. resident alien, ● A partnership, corporation, company, or association created or Purpose of Form organized in the United States or under the laws of the United A person who is required to file an information return with the States, IRS must obtain your correct taxpayer identification number (TIN) ● An estate (other than a foreign estate), or to report, for example, income paid to you, real estate ● A domestic trust (as defined in Regulations section transactions, mortgage interest you paid, acquisition or 301.7701-7). abandonment of secured property, cancellation of debt, or Special rules for partnerships. Partnerships that conduct a contributions you made to an IRA. trade or business in the United States are generally required to Use Form W-9 only if you are a U.S. person (including a pay a withholding tax on any foreign partners’ share of income resident alien), to provide your correct TIN to the person from such business. Further, in certain cases where a Form W-9 requesting it (the requester) and, when applicable, to: has not been received, a partnership is required to presume that 1. Certify that the TIN you are giving is correct (or you are a partner is a foreign person, and pay the withholding tax. waiting for a number to be issued), Therefore, if you are a U.S. person that is a partner in a partnership conducting a trade or business in the United States, 2. Certify that you are not subject to backup withholding, or provide Form W-9 to the partnership to establish your U.S. 3. Claim exemption from backup withholding if you are a U.S. status and avoid withholding on your share of partnership exempt payee. If applicable, you are also certifying that as a income. U.S. person, your allocable share of any partnership income from The person who gives Form W-9 to the partnership for a U.S. trade or business is not subject to the withholding tax on purposes of establishing its U.S. status and avoiding withholding foreign partners’ share of effectively connected income. on its allocable share of net income from the partnership Note. If a requester gives you a form other than Form W-9 to conducting a trade or business in the United States is in the request your TIN, you must use the requester’s form if it is following cases: substantially similar to this Form W-9. ● The U.S. owner of a disregarded entity and not the entity, Cat. No. 10231X Form W-9 (Rev. 10-2007) Form W-9 (Rev. 10-2007) Page 2 ● The U.S. grantor or other owner of a grantor trust and not the 4. The IRS tells you that you are subject to backup trust, and withholding because you did not report all your interest and ● The U.S. trust (other than a grantor trust) and not the dividends on your tax return (for reportable interest and beneficiaries of the trust. dividends only), or Foreign person. If you are a foreign person, do not use Form 5. You do not certify to the requester that you are not subject W-9. Instead, use the appropriate Form W-8 (see Publication to backup withholding under 4 above (for reportable interest and 515, Withholding of Tax on Nonresident Aliens and Foreign dividend accounts opened after 1983 only). Entities). Certain payees and payments are exempt from backup withholding. See the instructions below and the separate Nonresident alien who becomes a resident alien. Generally, Instructions for the Requester of Form W-9. only a nonresident alien individual may use the terms of a tax treaty to reduce or eliminate U.S. tax on certain types of income. Also see Special rules for partnerships on page 1. However, most tax treaties contain a provision known as a “saving clause.” Exceptions specified in the saving clause may Penalties permit an exemption from tax to continue for certain types of Failure to furnish TIN. If you fail to furnish your correct TIN to a income even after the payee has otherwise become a U.S. requester, you are subject to a penalty of $50 for each such resident alien for tax purposes. failure unless your failure is due to reasonable cause and not to If you are a U.S. resident alien who is relying on an exception willful neglect. contained in the saving clause of a tax treaty to claim an Civil penalty for false information with respect to exemption from U.S. tax on certain types of income, you must withholding. If you make a false statement with no reasonable attach a statement to Form W-9 that specifies the following five basis that results in no backup withholding, you are subject to a items: $500 penalty. 1. The treaty country. Generally, this must be the same treaty Criminal penalty for falsifying information. Willfully falsifying under which you claimed exemption from tax as a nonresident certifications or affirmations may subject you to criminal alien. penalties including fines and/or imprisonment. 2. The treaty article addressing the income. Misuse of TINs. If the requester discloses or uses TINs in 3. The article number (or location) in the tax treaty that violation of federal law, the requester may be subject to civil and contains the saving clause and its exceptions. criminal penalties. 4. The type and amount of income that qualifies for the exemption from tax. Specific Instructions 5. Sufficient facts to justify the exemption from tax under the Name terms of the treaty article. If you are an individual, you must generally enter the name Example. Article 20 of the U.S.-China income tax treaty allows shown on your income tax return. However, if you have changed an exemption from tax for scholarship income received by a your last name, for instance, due to marriage without informing Chinese student temporarily present in the United States. Under U.S. law, this student will become a resident alien for tax the Social Security Administration of the name change, enter your first name, the last name shown on your social security purposes if his or her stay in the United States exceeds 5 card, and your new last name. calendar years. However, paragraph 2 of the first Protocol to the U.S.-China treaty (dated April 30, 1984) allows the provisions of If the account is in joint names, list first, and then circle, the Article 20 to continue to apply even after the Chinese student name of the person or entity whose number you entered in Part I becomes a resident alien of the United States. A Chinese of the form. student who qualifies for this exception (under paragraph 2 of Sole proprietor. Enter your individual name as shown on your the first protocol) and is relying on this exception to claim an income tax return on the “Name” line. You may enter your exemption from tax on his or her scholarship or fellowship business, trade, or “doing business as (DBA)” name on the income would attach to Form W-9 a statement that includes the “Business name” line. information described above to support that exemption. Limited liability company (LLC). Check the “Limited liability If you are a nonresident alien or a foreign entity not subject to company” box only and enter the appropriate code for the tax backup withholding, give the requester the appropriate classification (“D” for disregarded entity, “C” for corporation, “P” completed Form W-8. for partnership) in the space provided. What is backup withholding? Persons making certain payments For a single-member LLC (including a foreign LLC with a to you must under certain conditions withhold and pay to the domestic owner) that is disregarded as an entity separate from IRS 28% of such payments. This is called “backup withholding.” its owner under Regulations section 301.7701-3, enter the Payments that may be subject to backup withholding include owner’s name on the “Name” line. Enter the LLC’s name on the interest, tax-exempt interest, dividends, broker and barter “Business name” line. exchange transactions, rents, royalties, nonemployee pay, and certain payments from fishing boat operators. Real estate For an LLC classified as a partnership or a corporation, enter transactions are not subject to backup withholding. the LLC’s name on the “Name” line and any business, trade, or DBA name on the “Business name” line. You will not be subject to backup withholding on payments you receive if you give the requester your correct TIN, make the Other entities. Enter your business name as shown on required proper certifications, and report all your taxable interest and federal tax documents on the “Name” line. This name should dividends on your tax return. match the name shown on the charter or other legal document creating the entity. You may enter any business, trade, or DBA Payments you receive will be subject to backup name on the “Business name” line. withholding if: Note. You are requested to check the appropriate box for your 1. You do not furnish your TIN to the requester, status (individual/sole proprietor, corporation, etc.). 2. You do not certify your TIN when required (see the Part II Exempt Payee instructions on page 3 for details), 3. The IRS tells the requester that you furnished an incorrect If you are exempt from backup withholding, enter your name as TIN, described above and check the appropriate box for your status, then check the “Exempt payee” box in the line following the business name, sign and date the form. Form W-9 (Rev. 10-2007) Page 3 Generally, individuals (including sole proprietors) are not exempt Part I. Taxpayer Identification from backup withholding. Corporations are exempt from backup withholding for certain payments, such as interest and dividends. Number (TIN) Note. If you are exempt from backup withholding, you should Enter your TIN in the appropriate box. If you are a resident still complete this form to avoid possible erroneous backup alien and you do not have and are not eligible to get an SSN, withholding. your TIN is your IRS individual taxpayer identification number The following payees are exempt from backup withholding: (ITIN). Enter it in the social security number box. If you do not have an ITIN, see How to get a TIN below. 1. An organization exempt from tax under section 501(a), any IRA, or a custodial account under section 403(b)(7) if the account If you are a sole proprietor and you have an EIN, you may satisfies the requirements of section 401(f)(2), enter either your SSN or EIN. However, the IRS prefers that you use your SSN. 2. The United States or any of its agencies or If you are a single-member LLC that is disregarded as an instrumentalities, entity separate from its owner (see Limited liability company 3. A state, the District of Columbia, a possession of the United (LLC) on page 2), enter the owner’s SSN (or EIN, if the owner States, or any of their political subdivisions or instrumentalities, has one). Do not enter the disregarded entity’s EIN. If the LLC is 4. A foreign government or any of its political subdivisions, classified as a corporation or partnership, enter the entity’s EIN. agencies, or instrumentalities, or Note. See the chart on page 4 for further clarification of name 5. An international organization or any of its agencies or and TIN combinations. instrumentalities. How to get a TIN. If you do not have a TIN, apply for one immediately. To apply for an SSN, get Form SS-5, Application Other payees that may be exempt from backup withholding for a Social Security Card, from your local Social Security include: Administration office or get this form online at www.ssa.gov. You 6. A corporation, may also get this form by calling 1-800-772-1213. Use Form 7. A foreign central bank of issue, W-7, Application for IRS Individual Taxpayer Identification 8. A dealer in securities or commodities required to register in Number, to apply for an ITIN, or Form SS-4, Application for the United States, the District of Columbia, or a possession of Employer Identification Number, to apply for an EIN. You can the United States, apply for an EIN online by accessing the IRS website at www.irs.gov/businesses and clicking on Employer Identification 9. A futures commission merchant registered with the Number (EIN) under Starting a Business. You can get Forms W-7 Commodity Futures Trading Commission, and SS-4 from the IRS by visiting www.irs.gov or by calling 10. A real estate investment trust, 1-800-TAX-FORM (1-800-829-3676). 11. An entity registered at all times during the tax year under If you are asked to complete Form W-9 but do not have a TIN, the Investment Company Act of 1940, write “Applied For” in the space for the TIN, sign and date the form, and give it to the requester. For interest and dividend 12. A common trust fund operated by a bank under section payments, and certain payments made with respect to readily 584(a), tradable instruments, generally you will have 60 days to get a 13. A financial institution, TIN and give it to the requester before you are subject to backup 14. A middleman known in the investment community as a withholding on payments. The 60-day rule does not apply to nominee or custodian, or other types of payments. You will be subject to backup withholding on all such payments until you provide your TIN to 15. A trust exempt from tax under section 664 or described in the requester. section 4947. Note. Entering “Applied For” means that you have already The chart below shows types of payments that may be applied for a TIN or that you intend to apply for one soon. exempt from backup withholding. The chart applies to the Caution: A disregarded domestic entity that has a foreign owner exempt payees listed above, 1 through 15. must use the appropriate Form W-8. IF the payment is for . . . THEN the payment is exempt Part II. Certification for . . . To establish to the withholding agent that you are a U.S. person, Interest and dividend payments All exempt payees except or resident alien, sign Form W-9. You may be requested to sign for 9 by the withholding agent even if items 1, 4, and 5 below indicate Broker transactions Exempt payees 1 through 13. otherwise. Also, a person registered under For a joint account, only the person whose TIN is shown in the Investment Advisers Act of Part I should sign (when required). Exempt payees, see Exempt 1940 who regularly acts as a Payee on page 2. broker Signature requirements. Complete the certification as indicated Barter exchange transactions Exempt payees 1 through 5 in 1 through 5 below. and patronage dividends 1. Interest, dividend, and barter exchange accounts opened before 1984 and broker accounts considered active Payments over $600 required Generally, exempt payees 2 during 1983. You must give your correct TIN, but you do not to be reported and direct 1 through 7 have to sign the certification. 1 sales over $5,000 2. Interest, dividend, broker, and barter exchange 1 accounts opened after 1983 and broker accounts considered See Form 1099-MISC, Miscellaneous Income, and its instructions. 2 inactive during 1983. You must sign the certification or backup However, the following payments made to a corporation (including gross proceeds paid to an attorney under section 6045(f), even if the attorney is a withholding will apply. If you are subject to backup withholding corporation) and reportable on Form 1099-MISC are not exempt from and you are merely providing your correct TIN to the requester, backup withholding: medical and health care payments, attorneys’ fees, and you must cross out item 2 in the certification before signing the payments for services paid by a federal executive agency. form. Form W-9 (Rev. 10-2007) Page 4 3. Real estate transactions. You must sign the certification. Secure Your Tax Records from Identity Theft You may cross out item 2 of the certification. Identity theft occurs when someone uses your personal 4. Other payments. You must give your correct TIN, but you information such as your name, social security number (SSN), or do not have to sign the certification unless you have been other identifying information, without your permission, to commit notified that you have previously given an incorrect TIN. “Other fraud or other crimes. An identity thief may use your SSN to get payments” include payments made in the course of the a job or may file a tax return using your SSN to receive a refund. requester’s trade or business for rents, royalties, goods (other than bills for merchandise), medical and health care services To reduce your risk: (including payments to corporations), payments to a ● Protect your SSN, nonemployee for services, payments to certain fishing boat crew ● Ensure your employer is protecting your SSN, and members and fishermen, and gross proceeds paid to attorneys ● Be careful when choosing a tax preparer. (including payments to corporations). Call the IRS at 1-800-829-1040 if you think your identity has 5. Mortgage interest paid by you, acquisition or been used inappropriately for tax purposes. abandonment of secured property, cancellation of debt, qualified tuition program payments (under section 529), IRA, Victims of identity theft who are experiencing economic harm Coverdell ESA, Archer MSA or HSA contributions or or a system problem, or are seeking help in resolving tax distributions, and pension distributions. You must give your problems that have not been resolved through normal channels, correct TIN, but you do not have to sign the certification. may be eligible for Taxpayer Advocate Service (TAS) assistance. You can reach TAS by calling the TAS toll-free case intake line at 1-877-777-4778 or TTY/TDD 1-800-829-4059. What Name and Number To Give the Requester Protect yourself from suspicious emails or phishing For this type of account: Give name and SSN of: schemes. Phishing is the creation and use of email and websites designed to mimic legitimate business emails and 1. Individual The individual websites. The most common act is sending an email to a user 2. Two or more individuals (joint The actual owner of the account or, account) if combined funds, the first falsely claiming to be an established legitimate enterprise in an individual on the account 1 attempt to scam the user into surrendering private information 3. Custodian account of a minor The minor 2 that will be used for identity theft. (Uniform Gift to Minors Act) 1 The IRS does not initiate contacts with taxpayers via emails. 4. a. The usual revocable savings The grantor-trustee Also, the IRS does not request personal detailed information trust (grantor is also trustee) through email or ask taxpayers for the PIN numbers, passwords, 1 b. So-called trust account that is The actual owner or similar secret access information for their credit card, bank, or not a legal or valid trust under other financial accounts. state law 5. Sole proprietorship or disregarded The owner 3 If you receive an unsolicited email claiming to be from the IRS, entity owned by an individual forward this message to email@example.com. You may also report Give name and EIN of: misuse of the IRS name, logo, or other IRS personal property to For this type of account: the Treasury Inspector General for Tax Administration at 6. Disregarded entity not owned by an The owner 1-800-366-4484. You can forward suspicious emails to the individual Federal Trade Commission at: firstname.lastname@example.org or contact them at 4 7. A valid trust, estate, or pension trust Legal entity www.consumer.gov/idtheft or 1-877-IDTHEFT(438-4338). 8. Corporate or LLC electing The corporation corporate status on Form 8832 Visit the IRS website at www.irs.gov to learn more about 9. Association, club, religious, The organization identity theft and how to reduce your risk. charitable, educational, or other tax-exempt organization 10. Partnership or multi-member LLC The partnership 11. A broker or registered nominee The broker or nominee 12. Account with the Department of The public entity Agriculture in the name of a public entity (such as a state or local government, school district, or prison) that receives agricultural program payments 1 List first and circle the name of the person whose number you furnish. If only one person on a joint account has an SSN, that person’s number must be furnished. 2 Circle the minor’s name and furnish the minor’s SSN. 3 You must show your individual name and you may also enter your business or “DBA” name on the second name line. You may use either your SSN or EIN (if you have one), but the IRS encourages you to use your SSN. 4 List first and circle the name of the trust, estate, or pension trust. (Do not furnish the TIN of the personal representative or trustee unless the legal entity itself is not designated in the account title.) Also see Special rules for partnerships on page 1. Note. If no name is circled when more than one name is listed, the number will be considered to be that of the first name listed. Privacy Act Notice Section 6109 of the Internal Revenue Code requires you to provide your correct TIN to persons who must file information returns with the IRS to report interest, dividends, and certain other income paid to you, mortgage interest you paid, the acquisition or abandonment of secured property, cancellation of debt, or contributions you made to an IRA, or Archer MSA or HSA. The IRS uses the numbers for identification purposes and to help verify the accuracy of your tax return. The IRS may also provide this information to the Department of Justice for civil and criminal litigation, and to cities, states, the District of Columbia, and U.S. possessions to carry out their tax laws. We may also disclose this information to other countries under a tax treaty, to federal and state agencies to enforce federal nontax criminal laws, or to federal law enforcement and intelligence agencies to combat terrorism. You must provide your TIN whether or not you are required to file a tax return. Payers must generally withhold 28% of taxable interest, dividend, and certain other payments to a payee who does not give a TIN to a payer. Certain penalties may also apply.
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