CAKE MORTGAGE BEST RATE PROGRAM GUARANTEE:

If Cake Mortgage chooses not to match the competing lender’s offer, you will need to provide Cake Mortgage with certain Required Documentation, which is described below. You must also close your mortgage with that lender and submit the Required Documentation showing you received a better rate along with an application for the Cake Mortgage Best Rate Program Guarantee within 30-days of closing that loan. After a full review of the application and the Required Documentation has been completed and it is determined that you qualify, your Piece of Cake Price Reward check for $1,000 will be sent approximately 6-8 weeks after submission of the Required Documentation.

The documentation you must provide to us before being sent your Piece of Cake Price Reward check for $1,000 is your lender’s final closing disclosure and loan estimate (“Final Competing Disclosure”) that shows that the Interest Rate and Total Origination Charges (Page 2. Loan Cost, A. Origination Charges) were equal to or lower than those disclosed in your Cake Mortgage disclosure (“Cake Mortgage Disclosure”). In addition, your closed loan must have the same terms (property, property value, loan term, purpose, product, and loan type) as those shown in the Cake Mortgage Disclosure (and these along with your W-9, Promissory Note, and the Final Competing Disclosure and Cake Mortgage Disclosure referenced above are defined as the “Required Documentation”). Below are detailed requirements that must be met for you to be eligible to receive the Piece of Cake Price Reward.

1. You must provide the loan estimate from your lender within 24 hours of speaking with Cake Mortgage, Loan Estimate must be locked and dated within 24 hours of contact with a licensed loan officer at Cake Mortgage and the final Competing Closing Disclosure must be for the same property, property value, loan term, purpose, product, and loan type as the Cake Mortgage program.
2. Receiving the Piece of Cake Price Reward is contingent on you providing the information necessary for Cake Mortgage to make a credit underwriting decision and provide you with a customized interest rate quote and approval. Once approved, you are required to register your loan with Cake Mortgage for consideration of this offer. This registration requires an application fee deposit. If you provide a competing lender's offer along with the Required Documentation and we cannot match the offer, you will be refunded your application fee deposit. The Required Documentation you provide must show that the interest rate and total origination charges were equal to or lower than those disclosed in your Cake Mortgage Disclosure.
3. If the loan product is an adjustable rate product, the initial rate, rate index, time of rate adjustment and rate cap must also be the same as for the product you are requesting from Cake Mortgage. The interest rates being compared must be for the same lock in term and must be within the range of interest rates that we are quoting on our website.
4. We reserve the right to verify that the competing lender's interest rate and points/fees quote is bona fide.
5. Cake Mortgage may, in its sole discretion, accept loan estimate proxies (e.g., rate sheets from other lenders) provided the rate and terms from the competitive lender are not contingent on any other transaction or relationship. In addition, the loan estimate proxy must contain information sufficient to demonstrate that the offer is intended for the borrower who is applying for a loan with Cake Mortgage and contain proof that the borrower's credit score was verified.
6. The Final Competing Disclosure may not be from a broker or lender who Cake Mortgage provides loan originating and/or brokerage services. If you shop a competing lender first, you are required to provide Cake Mortgage with the Final Competing Disclosure. The document from the competing lender must be dated the same day as the request to Cake Mortgage to match the other lender's offer and must be submitted to Cake Mortgage within 24 hours of registration
7. Cake Mortgage Best Rate Program guarantee is only valid in states where Cake Mortgage is currently originating loans. It includes all loan products on single-family residences, condominiums and PUDs. This program is limited to conventional, conforming and first lien.
8. Cake Mortgage Best Rate Program guarantee is not available for refinances of loans originated by Cake Mortgage within 6 months of funding date.
9. Cake Mortgage Best Rate Program guarantee cannot be combined with any other promotion. Offer is invalid if the borrower submits a Final Competing Disclosure from a lender with a rate that is not publicly available (including, but not limited to, those requiring a minimum amount of assets under management, employee relocation programs, or similar employee programs). Each borrower may only take advantage of this offer once per loan application
10. The Cake Mortgage Best Rate Program guarantee is void if the loan terms or conditions of the loan approval change prior to closing.
11. Cake Mortgage reserves the right to rescind or modify the terms of this offer without prior notice.