Inter Vivos Trust Presentation 3/14/13

Inter Vivos Trusts HomeBridge allows loans closing in the name of an inter vivos revocable trust subject to the following requirements:  Conventional transactions only  One unit properties only (condominiums are eligible)  Primary residence or second home  Trust must be revocable by the Grantor  All Grantors must be living  The trust was established by a natural person and is effective during their lifetime  At least one borrower must be the beneficiary and an occupant, as well as a trustee whose income/assets are used for qualifying

Inter Vivos Trust Requirements (cont.)  Title must be held in one trust only  The trust must grant the borrower the power to mortgage and borrow money  Title must approve the loan closing in the name of the trust  Power of attorney is not eligible  Blind trusts are ineligible

Inter Vivos Trusts  Trust documentation requirements vary by state.  HomeBridge will accept the following as documentation of the trust “subject to title company approval”. A complete copy of the trust agreement including all referenced schedules and amendments, signed, dated and notarized, or A Certificate of Trust Form, completed by the borrower, and copies of the first page, signature page and successor trustee signature page of the trust.  An Attorney Opinion Letter may also be required by the title company.