New_Startup by shuifanglj

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									             newsong
     buyer's
a s s i s t a n c e
8022 S. Memorial #200, Tulsa, OK 74133
                                                   Buyers Assistance Program
                                                  We open doors for more homebuyers!
Phone 918-254-6999 Fax 918-254-2389


August 2005,

Since 1997, Newsong has been a 501(c)3 nonprofit foundation that has helped thousands of homebuyers of all income
levels by increasing opportunities for them to enjoy the benefits of homeownership. Newsong places a high value on
affordable housing for people in underserved markets. We continually develop close relationships with brokers, agents,
builders, lenders, and other organizations to help them expand their community development programs in most major
markets throughout the U.S., Puerto Rico, and Virgin Islands.

Newsong Buyers Assistance is a smart option for anyone who qualifies for a home loan and wants to keep their savings
(401Ks, CDs, IRA), as well as those who have little or no money for down payment or other expenses related to their
purchases. Everyone who takes a close look at Buyers Assistance emphatically agrees that our homebuyer assistance
and industry support programs are the absolute best available.

In step with FHA and Fannie Mae community redevelopment programs, many lenders have embraced gift funding on
conventional and sub-prime loans in markets throughout the U.S. This will become more and more important as the
market shifts in the months ahead. Below are some lenders who have demonstrated a thorough grasp of down payment
assistance programs and are actively involved in community revitalization initiatives.

Wells Fargo                      Netbank                   Principal Residential                American Mortgage Network
Chase Bank                       PRMI                      Commercial Federal                   American SW Mortgage
Flagstar                         Encore                    First Nationwide                     Mortgage Warehouse
Fremont                          First Fidelity            Citizens First                       Ocean West Funding
Sterling Capital                 First NLC                 Southwest                            Prime Equity
US Bank                          Alethes                   IndyMac                              Paramount
Interfirst/ABN AMRO              BNC                       Amnet                                Associates
Commonwealth                     SMC                       FNC Conventional                     Overland
Peoples Choice                   MIT                       Diversified Capitol Alliance         Temple Inland
Matrix Financial                 FSB                       American Wholesale                   State Farm
First Magnus                     WMC                       Crest Mortgage                       Synergy
Meritage                         Sebring                   Aegis/New America                    Legacy
AB Conduit                       Equifirst                 Lehman Brothers                      United Wholesale
Union State Bank                 AccuBank                  Fieldstone                           Oxford Capitol
Overland Mortgage                Carteret                  Cornerstone                          Yorktown Funding
Wallstreet Funding               National City             Access Lending Group/CTG             Homezone USA
Argent                           Indymac                   Taylor Bean & Whittaker              Mortgages Direct
United Capitol                   Charter One               Jefferson Mortgage                   Master Financial
Wachovia                         Homestar                  First Mutual                         Guaranty Residential

Newsong’s industry support programs provide fresh, new tools to attract qualified buyers of all income levels and turn up
to 30% more of them into homeowners with minimum expense and effort. Simply put, routinely including Newsong
funding increases your chances of success and, much more importantly, you’ll secure the deep loyalty of your buyers by
helping them maintain their financial stability. We invite you to co-host seminars and other events to give your buyers,
sellers and industry associates a full understanding of one of the most overlooked benefits in the real estate market today.



Gayle Towry
Executive Director
Newsong Buyers Assistance


Federal Tax ID 73-1518616                                                                  www.buyers-assistance.com     +
               newsong
      buyer's
  a s s i s t a n c e
                                                             Buyers Assistance BuyLines
                                                       Opening the door for new homeowners!

                                           Down payment assistance programs are one of the most overlooked benefits in the real estate
                                           and mortgage professional toolbox. Realtors and mortgage originators who understand down
                                           payment assistance can tap into a valuable source of new and repeat business. Not every down
                                           payment gift recipient has zero savings. Some have managed to secure 401Ks, IRAs and other
                                           savings, but for various reasons, they could benefit from down payment assistance. Then there
                                           are the empty nesters who don't want to deplete their retirement nest eggs, or young couples
                                           struggling to create emergency funds. Perhaps these folks should retain their savings and use
                                           down payment gifts instead of exhausting their savings to come up with cash for down
                                           payments. Down payment assistance has proven to offer buyers the option of maintaining their
                                           financial stability. It is widely agreed that the best way to rejuvenate the U.S. economy is to put
                                           more cash in the pockets of consumers. Down payment assistance does just that.



Perception vs. Reality                                                     Market Opportunities
The perception in the mortgage industry is that the less a                 Fannie Mae has also recently
borrower has invested in a home, the higher the likelihood of              embraced down payment
defaulting on their mortgage. This assumption contributes to the           assistance by unveiling their
hesitancy of many lenders to readily embrace down payment                  community redevelopment
                                                                           initiatives to allow gift
assistance as a daily tool. Most lenders look at down payment
                                                                           funding on conventional and
assistance as a program used only by those buyers who have                 sub-prime loans. eZAccess
marginal credit and no savings to apply towards expenses when              offers automated underwriting on loans for consumers with
closing home loans. However, what lenders, Realtors and builders           minor credit problems or limited funds for down payments up
should realize is that recent trends imply that this perception            to $300,700 and 100% LTV. This helps buyers in 28 cities
myopically focuses on a small part of the overall big picture.             throughout the U.S. and is offered by lenders such as Flagstar
                                                                           and Wachovia among others.
Research Findings and Conclusions
Experian, Inc., a leading national credit-reporting firm, recently         Responsive to Market Demands
completed an analysis of one major down payment program                    Newsong Buyers Assistance demonstrates a unique capacity
and found that the overall default rates for this programs loans           and eagerness to respond promptly to consumer demand and
                                                                           market shifts. All too often, many industry professionals as well
were well below the national average for traditional FHA loans.
                                                                           as buyers have been told that gift funding from a nonprofit is
A close look at this report appears to confirm that low- and
                                                                           allowed on conventional and sub-prime loans, only to discover
moderate-income homebuyers are dependable in making loan                   at closing that the funds must be sourced from the buyer's
payments and fulfilling their obligations when given a chance              bank account. Newsong's answer is a new Direct Funding
to do so. Home ownership should be more than just a dream                  Program that fulfills lender requirements and helps more
for those who work hard and pay their bills on time. Buyers                conventional and sub-prime borrowers.
Assistance is a good way to quickly make it a reality.
                                                                           Industry Events
                                                                           Newsong is currently scheduling for upcoming events, and is
                                                                           developing a co-marketing program to help showcase our
                                                                           colleagues in the industry. Those interested in management
                                                                           and staff training or buyer and industry professional seminars
                                                                           should contact Gayle Towry at (918) 254-6999. Also, let us
                                                                           know if there are major industry trade shows or conferences
                                                                           coming up in your area that might be of interest for exhibiting.




  Revision 12-15-03                                                                                       www.buyers-assistance.com          $
               newsong
       buyer's
   a s s i s t a n c e
                                                            Buyers Assistance Program
                                                         We open doors for more homebuyers!

How It Works - When It Won't - What To Do
Considering the numerous loan options available to Americans, there are few
valid reasons why anyone who is employed would continue to rent a home.
This basic understanding is a fundamental principle for the development and
expansion of the Newsong Buyers Assistance Gift Program. Newsong is firmly
committed to providing hardworking Americans and their families the up-
front funds needed to acquire homes of their own. They may now preserve
their savings and still purchase homes with Newsong. Here's how;

Often buyers prefer not to cash in their CD’s, mutual funds, stocks or savings,
or simply are not able to save the necessary down payment of a new home.                    Seller's Net Proceeds Example
Instead, they have the option of accessing Newsong’s pool of funds to ease
the burden and maintain their financial stability. In any case, there are no      Seller's Estimated         Sale W/O         Sale With
income restrictions or price ceilings for Newsong funding. Buyers approved for    Net Proceeds               Newsong          Newsong
eligible loans, such as FHA, can move into homes with zero cash out-of-
pocket. Newsong routinely gifts from $2,000-$45,000 to home buyers, and           List Price of Home         $200,000         $200,000
requests for larger gifts are considered on a case-by-case basis.
                                                                                  Average Reduction                 5%               0%
Sellers usually have two options for quickly closing a sale:                      Sale Price                 $190,000         $200,000
1) Negotiate a reduced price (5-7% on average), share closing costs, prepaids
and other expenses. Typically a combination of these and other concessions is     Less: Example Gift
necessary in most real estate markets.                                            Amount + $540 Fee                  $0         $(6,540)

2) Maintain the asking price and offer prospective buyers the option of           Less Sale Commission       $(11,400)        $(12,000)
consolidating expenses and down payment. Buyers then can dip into the             Less: Closing Costs
Newsong pool for the funds they need. The seller in turn replenishes Newsong      Estimate 2%                  $(3,800)         $(4,000)
with a modest service fee.
                                                                                  Seller Net Proceeds       $174,800         $177,460
The seller’s fee is based on two numbers – the amount of the down payment
gift, plus our fee. A seller’s eagerness to participate can depend on market      Buyers who access gift funds find that it is in their
conditions in the region where the buyer is looking for a home. Most lenders      best interest to contract for up to full market value
endorse charity gift programs, and utilize them frequently on many types of       on the purchase of their homes. This leaves the
loans. Newsong has no restrictions on the types of loan programs that its         sellers room to participate in the program, and
homebuyers use, as long as the loan program allows the use of gift funds.         replenishes the Newsong pool of funds to keep the
Buyers should check with their lenders to see if the use of Newsong gift funds    program secure to help others.
is allowed. Newsong funding is not a viable option for seller financing,
refinancing or home improvement loans.                                            To get started quickly, buyers should get prequalified
                                                                                  with a lender or Realtor before finding a home. Then,
Newsong funding is not intended to qualify buyers for loan approval.              simply contact Newsong after the Funding Request
However, Newsong is dedicated to streamlining the mortgage loan process to        has been completed and faxed to Newsong. Your
help qualified buyers who lack adequate cash on hand. This is estimated at        lender and Realtor help to ensure that all participants
30% of the buyers in the U.S. market.                                             involved are kept updated, and funds are disbursed
                                                                                  promptly. Newsong can recommend lenders and
                                                                                  Realtors who uses gift funding routinely.
         Discover the                                                             Our flexible solutions and step-by-step guidance from
     Potential for Yourself!                                                      professionals help to take the stress and worry out of
                                                                                  the homebuying process. We offer fast service, and so
                                                                                  much more. Contact us today at (918) 254-6999, or
          Zero Down                                                               visit our website for additional educational resources,
                                                                                  and online applications.
     Gift Money Available


     Revision 09-19-03                                                                             www.buyers-assistance.com         $
Newsong Steps & Procedures
For Use On Sub-Prime Transactions
Mortgage Office Registration Form

                              Loan Officer Role & Responsibilities
The following steps must be followed in order participate in the Newsong Program.

Step 1 - Seller must sign the “Service Agreement” and “Disbursement Form.”
Step 2 - Buyer must sign the “Home Buyer Agreement” and submit to loan officer a returnable personal check
         payable to Newsong for the buyer requested amount.
Step 3 - Prior to closing, the title/closing company must sign the “Disbursement Form” and fax a copy to
         Newsong along with a copy of the preliminary HUD-1.
Step 4 - Once the above steps have been completed, Newsong will wire funds directly to the loan officer via the
         buyers’ bank account.
Step 5 - Loan officer to fax Newsong: the above (3) forms, the copy of buyer’s personal check made payable to
         Newsong for the amount requested, the appraisal, loan approval, sales contract and preliminary HUD-1.
Step 6 - The responsible loan officer must accompany the buyer to the bank to secure a cashiers check for the
         full amount provided by Newsong. The cashier’s check is to be made payable and read both
         “(Buyer Name) OR (Closing Agency).” Buyer must endorse the cashiers check to be retained by
         Loan Officer who will immediately fax a copy to Newsong. Under no circumstances is the loan officer
         to allow the buyer to take possession of the cashier’s check.
Step 7 - At closing, loan officer must personally present the cahier’s check to the the title closing agent and return
         the retained personal check to the buyer. After closing, the closing agent/escrow company will wire the
         Seller's disbursement to Newsong immediately.

In order to offer the Newsong Program to eligible recipients, Loan Officers must first register their company.
Once registered, the originating Loan Officer is eligible to participate in Newsong’s industry training and support
program. Using the Newsong name in advertising, media and other public communications is permissible, but not
required. A registered Loan Officer is free to offer our program to any Realtor, Builder, or Client.

HUD-l Settlement Statement Disclaimer:
Newsong does not require or make rules governing HUD-1 Settlement Statement disclosures. HUD-l compliance
is the responsibility of the Loan Officer and title closing agent.

Should sales closing fail to take place within three working days after receipt of funds, the responsible Loan Officer
is hereby instructed and obligated to immediately return said funds to Newsong.


______________________________ __________________________ _______________________ ___________
         Loan Officer                   Company                   Signature           Date

______________________________ __________________________ _______________________ ___________
       Company Address                     City                      State             Zip

__________________________________________ _________________________________________________
                   Phone                                            Fax
            Rev 9.20   8022 S. Memorial Dr. #200 Tulsa, Oklahoma 74133   (918) 254-8763 Phone   (918) 254-8751 Fax
Newsong
Funding Request
                                                                                                                                        A
For Loan Officer Use Only

Amount Requested:               $                             Loan Type:     FHA      Non-Conforming      Est. Closing Date:
Process Fee: * Below        +   $                             Contract Sales Price:                       Appraisal Amount:
Wire Fee:                   +   $ 40.00                       Wholesaler/Investor:                        Representative:
   TOTAL FEE                =   $                             Phone:                                      Loan Approved:       Yes      No
Property Address:                                             City:                                       State:                 Zip:
Seller(s):                                                    Phone:                                      Fax:
Address:                                                      City:                                       State:                 Zip:
Buyer:                                                        Phone:                                      Cell/Work:
Co-Buyer:                                                     Phone:                                      Cell/Work:
Address:                                                      City:                                       State:                 Zip:
Loan Officer:                                                 Phone:                                      Fax:
Company:                                                      Email/URL:
Address:                                                      City:                                       State:                 Zip:
Selling Agent:                                                Phone:                                      Fax:
Company:                                                      Email/URL:
Address:                                                      City:                                       State:                 Zip:

Closing Agent:                                                Phone:                                      Fax:
Company:                                                      Email/URL:
Address:                                                      City:                                       State:                 Zip:

* SUB-PRIME/CONVENTIONAL PROGRAM GUIDELINES:                               * FHA PROGRAM GUIDELINES:
Newsong's Process Fee is the greater of $1,000, or 10% of the              Newsong's Fee is $250 for funding amounts up to $20,000. For
requested amount.                                                          amounts over $20,000 the Fee is 10%. Funds are wired to the
                                                                           closing office escrow account.
Buyer signs the “Homebuyer Agreement." Loan Officer collects and
holds a personal check payable to Newsong from Buyer in the                Broker/Lender: Determine amount of assistance the buyer(s)
amount of funding requested.                                               require. Fax Newsong Funding Request to (918) 254-2389. Gift
Seller signs the "Service Agreement” and “Disbursement Form”               Letter and Purchase Addendum may be signed by both parties prior
                                                                           to or, at closing.
Loan Officer to fax above forms with copy of Buyer’s personal check,
appraisal, loan approval and sales contract to Newsong. Responsible        Realtor/Builder/Seller: Seller agrees to contract with buyer for up
Loan Officer accompanies Buyer to the bank to be sure that a               to but not exceeding the appraised value of the home allowing the
cashier’s check is drawn and delivered to closing agent at closing.        seller room to pay the Newsong Fee. Fax signed Sales Contract and
Fax copy of cashier’s check to Newsong.                                    Purchase Addendum to the loan officer and Newsong.
Closing agent faxes a Preliminary HUD-1 to Newsong                         Closer: Fax wiring instructions and preliminary HUD-1 reflecting
After closing, the closing agent/escrow company will immediately           Newsong Fee (Newsong Funding Amount + Service Fee + Wire Fee),
wire the Seller's disbursement to Newsong.                                 to (918) 254-2389.
Should sales closing fail to take place within three working days after    Funder: Wire Newsong Fee to credit Newsong.
receipt of funds, the responsible Loan Officer is hereby instructed and    Fax final HUD-1 and any updated, or signed Newsong documents to
obligated to immediately return said funds to Newsong.                     (918) 254-2389.
_____________________________________ ________________                                                      Newsong Federal ID # 73-1518616
         Loan Officer Signature          Registration #

                 Rev 9.20       8022 S. Memorial Dr. #200 Tulsa, Oklahoma 74133    (918) 254-8763 Phone     (918) 254-8751 Fax
Newsong                                                                                                            B
Service Agreement
For Sellers Use Only



Newsong is a Non-Profit Organization providing affordable housing opportunities and services as a part of its
mission. The Seller(s) agree to perform all conditions set forth in this Agreement enabling Newsong services.

THIS AGREEMENT, made this _________ day of ______________________________________ 20_____ by
and between _________________________________________________________________________ (Seller(s)
and Newsong regarding the property located at ______________________________________________________
                                                                       Street Address           City/State/Zip


Contract Sales Amount $___________________, Title closing will be conducted by: __________________________


_________________________________________________________ on or before _____ Day of _________, 20____.
                     Closing Office Address

The Seller(s) agree to a total fee in the amount of $__________________ to Newsong from the net proceeds of
the Seller's property closing above. Seller(s) instructs the Escrow/Closing Agent to disburse said funds within
three (3) business days from close of escrow. It is further agreed that no changes, alterations, or cancellations to this
order can be made unless written permission is obtained from Newsong.

The Seller(s) understands he is not obligated for said fee if a prospective purchaser fails to close on the subject
property. The Seller(s) fee to Newsong is made only upon the successful closing of this real estate transaction.


_____________________
Gayle Towry
Newsong Director



_________________________________________ ______________________________________ ___________
                  Seller                                  Signature                  Date

_________________________________________ ______________________________________ ___________
                  Seller                                  Signature                  Date




          Rev 9.20   8022 S. Memorial Dr. #200 Tulsa, Oklahoma 74133   (918) 254-8763 Phone   (918) 254-8751 Fax
                                                                                                            C
Disbursement Form



                                           For Closing Agent/Escrow Officer Use Only


To whom it May Concern,

You are hereby instructed to disburse payment of $_________________________ to Bank of Oklahoma:
                        ABA # 103900036                  Account # 804832786
.
These funds are to be immediately wire transferred after closing and settlement are complete.
It is further agreed that no changes, alterations, or cancellations to this order can be made unless written
permission is obtained.


________________________________ ________________________ _______________________ ___________
       Property Address Sold               City                     State              Zip

_________________________________________ ______________________________________ ___________
                   Seller                                 Signature                   Date

_________________________________________ ______________________________________ ___________
                   Seller                                 Signature                   Date


I acknowledge receipt of this disbursement order and shall comply with all instructions herein.


______________________________ __________________________ _______________________ ___________
      Escrow Officer/Title             Company                    Signature            Date

______________________________ __________________________ _______________________ ___________
       Closing Address                    City                      State              Zip

__________________________________________ _________________________________________________
                   Phone                                            Fax




                                               (Office Use Only)

Confirmation ____________________________________________________________                  Date ______________




         Rev 08/02/05
Gayle Towry
                                                                                                                    C
Collection Form
For Closing Agent/Escrow Officer Use Only



To whom it May Concern,

You are hereby instructed to disperse the amount of $_________________________ to Gayle Towry for services
rendered in assisting the sale of this property. The funds are to be immediately wire transferred after closing and
settlement are complete. Such dispersement is subject to closing instructions provided by lender.

It is further agreed that no changes, alterations, or cancellations to this order can be made unless written
permission is obtained from Gayle Towry.

________________________________ ________________________ _______________________ ___________
         Property Address                  City                      State              Zip

_________________________________________ ______________________________________ ___________
                   Seller                                 Signature                   Date

_________________________________________ ______________________________________ ___________
                   Seller                                 Signature                   Date



I acknowledge receipt of this collection order.

______________________________ __________________________ _______________________ ___________
      Escrow Officer/Title             Company                    Signature            Date

______________________________ __________________________ _______________________ ___________
       Closing Address                    City                      State              Zip

__________________________________________ _________________________________________________
                   Phone                                            Fax



                                                   (Office Use Only)

Confirmation ____________________________________________________________                          Date ______________




           Rev 9.20   8022 S. Memorial Dr. #200 Tulsa, Oklahoma 74133   (918) 254-8763 Phone   (918) 254-8751 Fax
Newsong
Homebuyer Agreement &
                                                                                                                                 D
Program Guidelines
It is understood by all parties hereunder that Newsong is providing _________________________________________________________

funding assistance in the amount of $____________ for the Sole Purpose to assist the purchase of property located at:
_____________________________________________________________________ at a price of $_______________
                         Property Address                     City/State/Zip
From: ______________________________________________________________. Title closing will be conducted by:
                                        Seller(s) Name(s)
_________________________________________________________ on or before the _____ day of _________, 20____.
                        Closing Office and Address
The undersigned shall immediately place Newsong funds with the responsible __________________________________.
                                                                                                      Loan Officer
Immediately upon receipt of funds from Newsong, I/We will secure a cashier’s check for the full amount provided by Newsong. The cashiers
check is to be made payable to read both “(Buyer Name) OR (Closing Agency).” I/We will endorse the cashiers check to be retained by Loan
Officer who will immediately fax a copy to Newsong. Should closing fail to take place within three working days after the receipt of funds,
I/We hereby instruct and obligate the responsible Loan Officer to immediately return said funds to Newsong. I/We acknowledge that if there
are Newsong Funds held or returned to me/us for any reason, I/We will return-wire the full amount of funds provided to me/us by Newsong.
These funds are not made available from any person or entity with an interest in the sale of the property. It is expressly understood that
my/our ability to receive funds through Newsong is subject to availability of funds, and that Newsong is under no obligation whatsoever to
provide these funds to me/us. Newsong further certifies that only upon the successful closing of the above said property, at the above
closing office, and by satisfactory completion of all program guidelines, is there no return of funds expected or required in the form
of cash or future services. If closing does not take place as set out above, the following stipulations will apply:

  1. Use of Newsong funds for any other purpose other than purchase of above referenced property shall constitute an act of
     fraud on my/our part.
  2. Failure to immediately return entire amount of funds provided by Newsong shall result in any and all actions being taken by
     Newsong and render this agreement to be construed as a past due Promissory Note and enforceable according to the laws of
     the State of Oklahoma.
Failure to return funds:
If default be made in the payment of any of the sums noted herein or in the performance of any of the agreements contained herein, then the
entire principal sum shall, at the option of Newsong, become at once due and collectible without notice, time being of the essence. Failure to
exercise this option by Newsong shall not constitute a waiver of the right to exercise the same in the event of any subsequent default. Each
person liable hereon whether maker or endorser, hereby waives presentment, protest, notice, notice of protest, and notice of dishonor and
agrees to pay all costs, including a reasonable attorney’s fee, whether suit be brought or not, if after maturity of this note or default
hereunder, counsel shall be employed to collect this note. Venue of any suit being brought forth shall be in Tulsa County Oklahoma and
buyer waives venue and agrees to make all payments in Tulsa County Oklahoma.


                                                                                                  __________________________
                                                                                                   Gayle Towry - Newsong Director
Wiring Instructions/Buyer(s) Bank Authorization:
Buyer(s) hereby authorize the banking institution to verify wiring instructions to Buyer(s) account and to release said information to Newsong.

   ______________________________________________                        ________________________________________
           Correspondent Bank Name (if applicable)                                                ABA#
   ______________________________________________                        ________________________________________
                        Buyer’s Bank Name                                                        ABA#
   ______________________________________________                        ________________________________________
                     Name of Account Holder                                                Buyer’s Account #
Bank Address: _______________________________________________________________________________________
                                            Street                                    City/State/Zip
Contact: ______________________________ Phone: __________________________ Fax: ________________________

___________________________________________ _______________________________________ ___________
                              Buyer                                         Signature                          Date

___________________________________________ _______________________________________ ___________
                             Co-Buyer                                          Signature                       Date

                  Rev 9.20     8022 S. Memorial Dr. #200 Tulsa, Oklahoma 74133      (918) 254-8763 Phone   (918) 254-8751 Fax
          newsong
  buyer's
a s s i s t a n c e
                                                Buyers Assistance Program
                                             We open doors for more homebuyers!

 FAX COVER
 To:             _______________________________________

 Company:        Newsong Buyers Assistance

 Fax:            (918) 254-8751

 Phone:          (918) 254-6999

 From:           _______________________________________
 Company:        _______________________________________
 Phone/Fax:      _______________________________________
 Date:           _________________ Number of Pages: ______

 COMMENTS:
 ___________________________________________________________________________________
 ___________________________________________________________________________________
 ___________________________________________________________________________________
 ___________________________________________________________________________________

 Please be advised that we need all of the items on this checklist before funds can be wired. Documentation
 received before 2pm CST will increase Newsong's ability to process funding within 48 hours. If documentation
 is received after 2pm please allow another 24 hours for processing and contingencies.
   Mortgage Company Conditions

        Newsong Funding Request - Signed by loan officer.
        Newsong Homebuyer Agreement - Completed and signed by buyers.
        Personal Check - Copy of personal check from buyer payable to Newsong for amount requested.
        Newsong Service Agreement - Complete and signed by sellers.
        Wholesale Lender Approval - Underwriting approval.
        Newsong or Gayle Towry Invoice - Signed by Seller(s).
        Current Appraisal - Pages 1, 2 and comparables.
        Purchase Sales Contract - Complete and signed by sellers and buyers.
        HUD1 - Preliminary acceptable with case #, buyer's name, address, and Total Service Fee.


          Rev. 08-12-04   8022 S. Memorial #200, Tulsa, OK 74133 Phone (918) 254-6999 Fax (918) 254-8751

								
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