Terms & Conditions

LenderLetter, LLC / LenderLetter.com Terms & Conditions of Service

Posted: June 1, 2021

Effective: June 1, 2021

Thanks for using LenderLetter! These terms of service (“Terms”) cover your use and access to our services, website, and online web-based application(“Services”). We currently offer our Services only to residents of the United States of America and Canada and operate under LenderLetter, LLC based in California, USA.  If you operate outside of the United States of America or Canada, you are not authorized to sign-up and use the LenderLetter.com application.

Our Privacy Policy explains how we collect and use your information while our Acceptable Use Policy outlines your responsibilities when using our Services. By using our Services, you are agreeing to be bound by these Terms, our Privacy Policy and Acceptable Use Policy. If you are using our Services for an organization, you are agreeing to these Terms on behalf of that organization.

Your Information & Your Permissions

When you use our Services, you provide us with information such as your name, company name, license number, address, email, phone.  Buyer loan profile information is also submitted as part of the application’s purpose.  Loan profile information includes buyer names, addresses, emails, phone numbers, annual income and monthly expenses.  No critical personal data is gathered like social security numbers, dates of birth, or drivers license numbers.  All credit card information entered is stored with a third-party credit card service provider.  As you invite others to join LenderLetter, they will enter similar information.  You remain the owner of all information entered into LenderLetter.com.  Your information is yours. These Terms do not give us any rights to your information except for the limited rights that enable us to offer the Services and to manage and support our software application.

We need your permission to do things like hosting your information, backing it up, and sharing it when you ask us to. Our Services create letters used in the mortgage lending industry.  All letters are stored with date and time stamps.  You may view, download, print or email these letters as the application provides.  These and other features may require our systems to access, store and scan your information. You give us permission to do those things, and this permission extends to our affiliates and trusted third parties we work with for application design and development.

Sharing Your Information

Our Services let you create mortgage pre-approval, pre-qualification (otherwise known as a lender letter) that allows you to share these letters and your information with others, so please think carefully about what you share and how you craft each Template/Letter.

Your Responsibilities

You are responsible for your conduct. Your information and you must comply with our Acceptable Use Policy. Content in the Services may be protected by others’ intellectual property rights. Please do not copy, upload, download or share content unless you have the right to do so.  This includes images, logos, copyrighted or trademarked Intellectual Property.

We may review your conduct and content for compliance with these Terms & Conditions and our Acceptable Use Policy. With that said, we have no obligation to do so. We are not responsible for the content people post and share via the Services and we are not responsible for any result from anyone that relies on any information in letters generated via our LenderLetter application.

Help us keep you informed, and your information protected. Safeguard your password to the Services and keep your account information current. Do not share your account credentials or give others access to your account.

You may use our Services only as permitted by applicable law, including export control laws and regulations. You must also follow all Dodd-Frank Act rules and regulations.  Finally, our Services are not intended for and may not be used by people under the age of 18. By using our Services, you are representing to us that you are at least 18 years old.

Application

Some of our Services allow you to gain access to our online web Application.  This Application may update automatically. So long as you comply with these Terms & Conditions, we give you a limited, nonexclusive, nontransferable, revocable license to use the Application, solely to access the Services. To the extent any component of the Application may be offered under an open-source license, we’ll make that license available to you and the provisions of that license may expressly override some of these Terms & Conditions. Unless the following restrictions are prohibited by law, you agree not to reverse engineer or decompile the Services, attempt to do so, or assist anyone in doing so.

Beta Services

We sometimes release products and features that we are still testing and evaluating. Those Services have been marked beta, preview, early access, or evaluation (or with words or phrases with similar meanings) and may not be as reliable as LenderLetter’s other services, so please keep that in mind.

Our Property

The Services are protected by copyright, trademark, and other US and foreign laws. These Terms do not grant you any right, title or interest in the Services, others’ content in the Services, LenderLetter trademarks, logos, and other brand features. We welcome feedback but note that we may use comments or suggestions without any obligation to you.

Copyright

We respect the intellectual property of others and ask that you do too. We respond to notices of alleged copyright infringement if they comply with the law, and such notices should be reported using our Copyright Policy. We reserve the right to delete or disable content alleged to be infringing and terminate accounts of repeat infringers. Our designated agent for notice of alleged copyright infringement on the Services is:

Copyright Agent
LenderLetter, LLC
P.O. Box 4296
San Rafael, CA 94913
support@LenderLetter.com

Free/Paid Subscriptions

When Lenders subscribe to LenderLetter, a Company Account is created.  The Company Account is managed by the individual subscribing to our application service.  This individual must provide a valid credit/debit card to activate their new account.  The new Company Account shall receive a 30-day free trial subscription.  Within this first 30-day trial, the Company Account may add an unlimited number of Loan Officers within this account.  After the initial 30-day free trial subscription, the LenderLetter application will automatically convert free subscriptions to a fee-based subscription.  The LenderLetter subscription fees are based on the number of active Loan Officers set up within the Company account.  The monthly payment depends on the number of Loan Officers signed up for the Services within a Company.  As Loan Officers are added or removed to a Company Account, the monthly fees will increment up or down at the next billing cycle.  Please review these details on our website at LenderLetter.com.

We will automatically bill you on each periodic renewal until cancellation.  You must use a valid credit/debit card in order to sign up and use LenderLetter.  PLEASE NOTE: If you decide to cancel your subscription before the end of a billing cycle is up, your subscription will continue until the end of the billing cycle.  Please remember that you are responsible for all applicable taxes, and we’ll charge tax when required to do so. Some states and/or provinces have mandatory local laws regarding your cancellation rights, and this paragraph doesn’t override these laws.

No Refunds

You may cancel your LenderLetter subscription at any time. Refunds are only issued if required by law.

Downgrades

Your subscription will remain in effect until it is cancelled or terminated under these Terms. If you do not pay for your subscription on time, we reserve the right to suspend your account.  Your login will still be active, but your access to all Services within the LenderLetter application will be restricted.

Changes

We may change the fees in effect but will give you advance notice of these changes via a message to the email address associated with your account.

LenderLetter Accounts within a Company Subscription

Email address. If you sign up for a LenderLetter account with an email address provisioned by your organization, and migrate to another organization, your previous Company may be able to block your use of LenderLetter until you transition to another account on LenderLetter.

If you join LenderLetter, you must use it in compliance with your organization’s terms and policies. Please note that LenderLetter accounts are subject to your organization’s control. Your administrator(s) may be able to access, disclose, restrict, or remove information in or from your LenderLetter account. They may also be able to restrict or terminate your access to a LenderLetter account.

Termination

You are free to stop using our Services at any time. We reserve the right to suspend or terminate your access to the Services with notice to you if:

(a) you are in breach of these Terms,
(b) you are using the Services in a manner that would cause a real risk of harm or loss to us or other users, or
(c) you do not have a subscription and have not accessed our Services for 12 consecutive months.

We will provide you with reasonable advance notice via the email address associated with your account to remedy the activity that prompted us to contact you and give you the opportunity to export your information from our Services. If after such notice you fail to take the steps we ask of you, we will terminate or suspend your access to the Services.

We will not provide notice before termination where:

(a) you are in material breach of these Terms & Conditions,
(b) doing so would cause us legal liability or compromise our ability to provide the Services to our other users, or
(c) we are prohibited from doing so by law.

Discontinuation of Services

We may decide to discontinue the Services in response to unforeseen circumstances beyond LenderLetter’s control or to comply with a legal requirement. If we do so, we will give you reasonable prior notice so that you can export your information from our systems. If we discontinue Services in this way before the end of any fixed or minimum term you have paid us for, we will refund the portion of the fees you have pre-paid but haven’t received Services for.

Services “AS IS”

We strive to provide great Services, but there are certain things that we can’t guarantee. TO THE FULLEST EXTENT PERMITTED BY LAW, LENDERLETTER AND ITS AFFILIATES, SUPPLIERS AND DISTRIBUTORS MAKE NO WARRANTIES, EITHER EXPRESS OR IMPLIED, ABOUT THE SERVICES. THE SERVICES ARE PROVIDED “AS IS.” WE ALSO DISCLAIM ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. Some places do not allow the disclaimers in this paragraph, so they may not apply to you.

Limitation of Liability

WE DON’T EXCLUDE OR LIMIT OUR LIABILITY TO YOU WHERE IT WOULD BE ILLEGAL TO DO SO—THIS INCLUDES ANY LIABILITY FOR LENDERLETTER’S OR ITS AFFILIATES’ FRAUD OR FRAUDULENT MISREPRESENTATION IN PROVIDING THE SERVICES. IN COUNTRIES WHERE THE FOLLOWING TYPES OF EXCLUSIONS AREN’T ALLOWED, WE’RE RESPONSIBLE TO YOU ONLY FOR LOSSES AND DAMAGES THAT ARE A REASONABLY FORESEEABLE RESULT OF OUR FAILURE TO USE REASONABLE CARE AND SKILL OR OUR BREACH OF OUR CONTRACT WITH YOU. THIS PARAGRAPH DOESN’T AFFECT CONSUMER RIGHTS THAT CAN’T BE WAIVED OR LIMITED BY ANY CONTRACT OR AGREEMENT.

IN COUNTRIES WHERE EXCLUSIONS OR LIMITATIONS OF LIABILITY ARE ALLOWED, LENDERLETTER, ITS AFFILIATES, SUPPLIERS OR DISTRIBUTORS WON’T BE LIABLE FOR:

  1. ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, EXEMPLARY OR CONSEQUENTIAL DAMAGES, OR
  2. ANY LOSS OF USE, DATA, BUSINESS, OR PROFITS, REGARDLESS OF LEGAL THEORY.

THESE EXCLUSIONS OR LIMITATIONS WILL APPLY REGARDLESS OF WHETHER OR NOT LENDERLETTER OR ANY OF ITS AFFILIATES HAS BEEN WARNED OF THE POSSIBILITY OF SUCH DAMAGES.

IF YOU USE THE SERVICES FOR ANY COMMERCIAL, BUSINESS OR RE-SALE PURPOSE, LENDERLETTER, ITS AFFILIATES, SUPPLIERS OR DISTRIBUTORS WILL HAVE NO LIABILITY TO YOU FOR ANY LOSS OF PROFIT, LOSS OF BUSINESS, BUSINESS INTERRUPTION, OR LOSS OF BUSINESS OPPORTUNITY. LENDERLETTER AND ITS AFFILIATES AREN’T RESPONSIBLE FOR THE CONDUCT, WHETHER ONLINE OR OFFLINE, OF ANY USER OF THE SERVICES.

OTHER THAN FOR THE TYPES OF LIABILITY WE CANNOT LIMIT BY LAW (AS DESCRIBED IN THIS SECTION), WE LIMIT OUR LIABILITY TO YOU TO THE GREATER OF $20 USD OR 100% OF ANY AMOUNT YOU’VE PAID UNDER YOUR CURRENT SERVICE PLAN WITH LENDERLETTER.

Resolving Disputes

Let’s Try To Sort Things Out First. We want to address your concerns without needing a formal legal case. Before filing a claim against LenderLetter, you agree to try to resolve the dispute informally by contacting support@LenderLetter.com. We’ll try to resolve the dispute informally by contacting you via email. If a dispute is not resolved within 15 days of submission, you or LenderLetter may bring a formal proceeding.

Judicial Forum for Disputes

You and LenderLetter agree that any judicial proceeding to resolve claims relating to these Terms & Conditions or the Services will be brought in the federal or state courts of Marin County, California, subject to the mandatory arbitration provisions below. Both you and LenderLetter consent to venue and personal jurisdiction in such courts. If you reside in a country with laws that give consumers the right to bring disputes in their local courts, this paragraph does not affect those requirements.

IF YOU’RE A U.S. RESIDENT, YOU ALSO AGREE TO THE FOLLOWING MANDATORY ARBITRATION PROVISIONS:

We Both Agree To Arbitrate. You and LenderLetter agree to resolve any claims relating to these Terms & Conditions or the Services through final and binding arbitration by a single arbitrator, except as set forth under Exceptions to Agreement to Arbitrate below. This includes disputes arising out of or relating to interpretation or application of this “Mandatory Arbitration Provisions” section, including its enforceability, revocability, or validity.

Opt-out of Agreement to Arbitrate. You can decline this agreement to arbitrate by clicking here and submitting the opt-out form within 30 days of first registering your account. However, if you agreed to a previous version of these Terms & Conditions that allowed you to opt out of arbitration, your previous choice to opt out or not opt out remains binding.

Arbitration Procedures

The American Arbitration Association (AAA) will administer the arbitration under its Commercial Arbitration Rules and the Supplementary Procedures for Consumer Related Disputes. The arbitration will be held in the United States in Marin County (CA), or any other location we agree to.

Arbitration Fees and Incentives

The AAA rules will govern payment of all arbitration fees. LenderLetter will pay all arbitration fees for individual arbitration for claims less than $5,000. If you receive an arbitration award that is more favorable than any offer we make to resolve the claim, we will pay you $1,000 in addition to the award. LenderLetter will not seek its attorneys’ fees and costs in arbitration unless the arbitrator determines that your claim is frivolous.

Exceptions to Agreement to Arbitrate. Either you or LenderLetter may assert claims, if they qualify, in small claims court in San Rafael (CA) or any United States county where you live or work. Either party may bring a lawsuit solely for injunctive relief to stop unauthorized use or abuse of the Services, or intellectual property infringement (for example, trademark, trade secret, copyright, or patent rights) without first engaging in arbitration or the informal dispute-resolution process described above. If the agreement to arbitrate is found not to apply to you or your claim, you agree to the exclusive jurisdiction of the state and federal courts in Marin County, California to resolve your claim.

NO CLASS ACTIONS

You may only resolve disputes with us on an individual basis and may not bring a claim as a plaintiff or a class member in a class, consolidated, or representative action. Class arbitrations, class actions, private attorney general actions, and consolidation with other arbitrations are not allowed. If this specific paragraph is held unenforceable, then the entirety of this “Mandatory Arbitration Provisions” section will be deemed void.

Controlling Law

These Terms will be governed by California law except for its conflicts of laws principles. However, some countries have laws that require agreements to be governed by the local laws of the consumer’s country. This paragraph does not override those laws.

Entire Agreement

These Terms constitute the entire agreement between you and LenderLetter with respect to the subject matter of these Terms and supersede and replace any other prior or contemporaneous agreements, or terms and conditions applicable to the subject matter of these Terms. These Terms create no third-party beneficiary rights.

Waiver, Severability & Assignment

LenderLetter’s failure to enforce a provision is not a waiver of its right to do so later. If a provision is found unenforceable, the remaining provisions of the Terms will remain in full effect and an enforceable term will be substituted reflecting our intent as closely as possible. You may not assign any of your rights under these Terms, and any such attempt will be void. LenderLetter may assign its rights to any of its affiliates or subsidiaries, or to any successor in interest of any business associated with the Services.

Modifications                                                                                        

We may revise these Terms from time to time to better reflect:

(a) changes to the law,
(b) new regulatory requirements, or
(c) improvements or enhancements made to our Services.

If an update affects your use of the Services or your legal rights as a user of our Services, we’ll notify you prior to the update’s effective date by sending an email to the email address associated with your account or via an in-product notification. These updated terms will be effective no less than 30 days from when we notify you.

If you do not agree to the updates we make, please cancel your account before they become effective. Where applicable, we will offer you a prorated refund based on the amounts you have prepaid for Services and your account cancellation date. By continuing to use or access the Services after the updates come into effect, you agree to be bound by the revised Terms.