Compass Mortgage - Code of Ethics

Code of Ethics

Compass Mortgage Inc. adheres to the Canons of the Mortgage Bankers and Brokers Association of New Hampshire’s Code of Ethics, which states:

CANON 1 - Members shall conduct their business in a professional manner, ensuring that their personnel are knowledgeable in the areas of mortgage banking or financing in which they participate and are acting in compliance with sound industry practices.

CANON 2 - Members shall act in conformity with applicable laws and regulations and shall cooperate in every appropriate way with all governmental bodies in the interest of establishing and maintaining an efficient and fair framework for mortgage credit.

CANON 3 - Members shall act in a manner that recognizes that integrity and confidence are essential in the mortgage banking or broker business.

CANON 4 - Members shall accord oral agreements in the same sanctity given to written agreements.

CANON 5 - Members shall not breach or avoid an agreement or commitment.

CANON 6 - Members shall encourage healthy competition in the mortgage banking or broker business.

CANON 7 - Members shall conduct their business without regard to race, color, sex, religion, marital status, national origin or age of the persons with whom they deal.

CANON 8 - Members shall preserve the integrity of all parts of a loan submission and appraisal report and make full disclosure of all pertinent facts including any interest they may have in the loan project or property.

CANON 9 - Members shall consider a servicing contract to be an integral part of the mortgage banking or broker correspondent system and such a contract shall be terminated only with sufficient reason with the good faith nature of such a contract being recognized by both parties.

CANON 10 - Members shall not quote to a prospective borrower interest rates or other loan items that are not likely of realization.

CANON 11 - Members shall make all reasonable efforts to process loan applications and advise applicants of approval or disapproval promptly and to close and disburse in a timely manner.

CANON 12 - Members shall use all efforts available in servicing investments entrusted to their care effectively to discharge their obligations to both investor and debtor.

CANON 13 - Members shall maintain all monies that are received as escrow, reserve or impound accounts in a prudent and identifiable manner and shall disburse these funds for the purpose for which they were received.

CANON 14 - Members shall cooperate with the Ethics Committee in furnishing information relative to any investigation of a possible violation of the Canons of Ethics and Standards of Practice.

For additional information about Compass Mortgage and how we can help you obtain your next mortgage loan, call Charley Farley at (603) 471-9300 or e-mail charley.farley@weloannh.com.

Compass Mortgage Inc. - 172 Route 101 - Bedford, NH 03110-5416
Office Phone: (603) 471-9300 Fax: (603) 472-8811 Toll Free Phone: (877) 211-5300

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