RapidLend™

Effective Date: November 12, 2025

This Terms of Use for New Century Mortgages (the “Company”) is effective as of November 12, 2025. By accessing or using the New Century Mortgages Client and Broker Portal (the “Portal”), you acknowledge that you have read, understood, and agree to be bound by these Terms as of the effective date.

1. Acceptance of Terms

Welcome to the New Century Mortgages Client and Broker Portal (“Portal”). By accessing or using this Portal, you agree to be bound by these Terms of Use and our Privacy Policy. If you do not agree, please do not use the Portal.

2. Description of Services

New Century Mortgages (“Company,” “we,” “us,” or “our”) provides access to tools, information, and online services that facilitate mortgage applications, loan tracking, and broker interactions (collectively, the “Services”).

3. Eligibility

You must be at least 18 years of age and legally capable of entering into binding agreements to use this Portal. Use by unauthorized individuals or automated systems is prohibited.

4. Account Registration and Security

Users may be required to create an account to access certain features. You are responsible for maintaining the confidentiality of your login credentials and all activities that occur under your account. Notify us immediately of any unauthorized use.

5. Broker Use and Responsibilities

Licensed brokers using the Portal agree to comply with all applicable mortgage lending laws, licensing requirements, and professional standards. Brokers are responsible for ensuring the accuracy and completeness of all client data submitted.

6. Intellectual Property

All content, design, trademarks, and materials on the Portal are owned or licensed by New Century Mortgages. You may not copy, distribute, modify, or reverse-engineer any portion of the Portal without our written consent.

7. Prohibited Conduct

You agree not to:

• Use the Portal for unlawful purposes
• Upload false or misleading information
• Attempt to gain unauthorized access to systems or data
• Use automated tools (bots, scrapers, etc.) without permission

8. Disclaimers

The Portal and Services are provided “as is” and “as available.” We make no warranties regarding accuracy, reliability, or availability. Mortgage rates, eligibility, and terms are subject to change.

9. Limitation of Liability

To the maximum extent permitted by law, New Century Mortgages and its affiliates will not be liable for any indirect, incidental, consequential, or punitive damages arising from your use of the Portal or Services.

10. Indemnification

You agree to defend, indemnify, and hold harmless New Century Mortgages, its affiliates, officers, and employees from any claims, damages, or losses resulting from your use of the Portal or violation of these Terms.

11. Termination

We may suspend or terminate access to the Portal at any time, with or without cause or notice.

12. Governing Law

These Terms are governed by and construed in accordance with the laws of the State of Wyoming, without regard to its conflict of laws principles.

13. Changes to Terms

We may modify these Terms at any time. Updated versions will be posted with an updated “Last Updated” date. Continued use of the Portal constitutes acceptance of the revised Terms.

14. Contact Us

For questions about these Terms, contact:
New Century Mortgages
[email protected]

New Century Mortgages LLC ("NCM," "we," "our") is committed to transparency in all lending activities. This document provides a comprehensive overview of our loan products, associated terms, fees, and borrower obligations. All loan products described herein are for business-purpose investment property financing only.

1. Loan Products & Terms Overview

Term	DSCR	Bridge	New Const.	Hard Money	Portfolio	Commercial
Loan Amount	$150K-$5M	$75K-$3M	$150K-$5M	$75K-$3M	$500K-$10M	$250K-$15M
APR Range*	7.25%-10.99%	9.50%-13.99%	10.50%-14.99%	11.00%-15.99%	6.75%-10.49%	7.75%-12.99%
Loan Term	30-yr fixed/ARM	6-24 mo	12-24 mo	6-36 mo	5, 7, or 30-yr	5-30 years
Max LTV/LTC	Up to 80%	Up to 90% LTC	Up to 85% LTC	Up to 70%	Up to 75%	Up to 75%
Min. Credit	660	620	660	None req.	660	660
Payment	Monthly	Monthly (I/O)	Monthly (I/O)	Monthly (I/O)	Monthly	Monthly
Prepayment	3-2-1 or 5-4-3-2-1	None	None	None	3-2-1	Varies

* APR includes the base interest rate plus applicable origination fees and costs. Your actual APR will be disclosed in your Loan Estimate and Closing Disclosure prior to closing.

2. Product Details

DSCR Loans

Qualify based on rental income rather than personal income. No W-2s, tax returns, or employment verification required. Loan Amount: $150,000-$5,000,000. APR: 7.25%-10.99%. Term: 30-year fixed or 5/6, 7/6 ARM. Max LTV: up to 80%. Min DSCR: no minimum (below 1.0x may result in higher rates). Amortization: 30-year fully amortizing or interest-only for 60-120 months. Prepayment: 3-2-1 or 5-4-3-2-1 step-down. Eligible: 1-4 unit residential, condos, townhomes, short-term rentals.

Bridge Loans (Fix & Flip)

Short-term financing for acquiring and renovating properties for resale. Loan Amount: $75,000-$3,000,000. APR: 9.50%-13.99%. Term: 6-24 months. Max LTC: up to 90% of total project cost. Max ARV: up to 75%. Rehab financing: up to 100% of renovation costs (drawn in stages). Interest-only with balloon payment at maturity. No prepayment penalty. Extensions: up to two 3-month extensions at 0.50%-1.00%.

New Construction

Financing for ground-up construction projects. Loan Amount: $150,000-$5,000,000. APR: 10.50%-14.99%. Term: 12-24 months. Max LTC: up to 85%. Max LTV: up to 70% of completed value. Interest-only during construction. Funds disbursed in stages based on milestones. No prepayment penalty. Min. 2 completed projects preferred.

Hard Money / Asset-Based

Loans underwritten primarily on collateral value. Loan Amount: $75,000-$3,000,000. APR: 11.00%-15.99%. Term: 6-36 months. Max LTV: up to 70% as-is value. No minimum credit score. Interest-only with balloon. No prepayment penalty. Approvals as fast as same day; closings in as few as 5 business days.

Portfolio Loans

Consolidate 5+ investment properties into a single loan. Loan Amount: $500,000-$10,000,000. APR: 6.75%-10.49%. Term: 5, 7, or 30 years. Max LTV: up to 75% blended. 30-year amortization or I/O for 24-60 months. Prepayment: 3-2-1 step-down. Cross-collateralized.

Commercial Real Estate

Multifamily 5+, mixed-use, office, retail, industrial, self-storage, hospitality. Loan Amount: $250,000-$15,000,000. APR: 7.75%-12.99%. Term: 5, 7, 10, or 30 years. Max LTV: up to 75%. 25-30 year amortization. Prepayment varies (yield maintenance, defeasance, or step-down).

3. Fee Schedule

Fee Type	Details
Origination Fee	1.0%-3.0% of loan amount
Processing / Underwriting	$995-$1,995 per loan
Appraisal Fee	$950 (residential) / $3,750 (commercial)
Document Preparation	$495-$795
Credit Report	$35-$75 per borrower
Flood Certification	$12-$25
Title & Escrow	Third-party; varies by state and loan amount
Wire / Funding Fee	$50-$75 per wire
Draw Inspection (Construction/Bridge)	$150-$250 per draw
Extension Fee (Short-Term)	0.50%-1.00% of outstanding balance
Late Payment Fee	5% of monthly payment (after 10-day grace)
Returned Payment (NSF)	$35 per occurrence

All fees are disclosed in the Loan Estimate and Closing Disclosure provided prior to closing.

4. Example Repayment

DSCR 30-Year Fixed Example

Loan: $450,000 at 7.00% for 30 years. Monthly P&I: $2,994. Origination (2 pts): $9,000. Processing: $1,495. Appraisal: $950. Est. closing costs: ~$14,550. APR: ~7.35%. Total interest over life: ~$628,054. Total repaid: ~$1,078,054.

Bridge 12-Month I/O Example

Loan: $300,000 at 9.50% for 12 months. Monthly I/O: $2,375. Origination (2 pts): $6,000. Total interest: $28,500. Balloon at maturity: $300,000.

Hard Money 12-Month I/O Example

Loan: $250,000 at 11.00% for 12 months. Monthly I/O: $2,292. Origination (2.5 pts): $6,250. Total interest: $27,500. Total cost of borrowing: ~$36,145.

5. Late Payment Policy

Grace Period: All monthly payments are due on the 1st. A 10-day grace period applies. Payments received by the 10th incur no late fee.

Late Fee: 5% of the overdue monthly payment amount, assessed after the grace period. Example: $150 late fee on a $3,000 payment.

Returned Payment: $35 NSF fee per occurrence, in addition to any late fee.

Default: Payments unpaid 30+ days past due may result in: credit bureau reporting, default interest (up to 5% above contract rate), acceleration of the full balance, and foreclosure proceedings.

Cure Period: 30 calendar days from written notice of default to bring the account current.

6. Prepayment Terms

No Penalty: Bridge, Hard Money, and Construction loans may be paid off early at any time without penalty.

DSCR & Portfolio: 3-2-1 step-down (3% yr 1, 2% yr 2, 1% yr 3, none after) or 5-4-3-2-1 step-down for lower rate option.

Commercial: Varies (yield maintenance, defeasance, or step-down). Specific terms in your loan commitment letter.

7. Extensions

Short-Term (Bridge, Hard Money, Construction): Extensions available in 3-month increments, max two extensions. Fee: 0.50%-1.00% of outstanding balance. Loan must be current. Subject to NCM approval.

Long-Term (DSCR, Portfolio, Commercial): No extension provisions. Outstanding balance due at balloon maturity. Refinance available.

8. Additional Disclosures

Business-Purpose Only: All NCM loans are for business or investment purposes only. NCM does not originate consumer-purpose residential mortgage loans.

No Guarantee: Application submission does not guarantee approval. All applications subject to underwriting review and property valuation.

Rate Lock: Rates may be locked for 30-45 days at commitment. Extensions available for additional fee.

Insurance: Borrowers must maintain hazard/property insurance and flood insurance (where applicable) throughout the loan term. NCM must be listed as mortgagee/loss payee.

Disclaimer: This document is for informational purposes and does not constitute a commitment to lend. All terms, rates, and fees are subject to change without notice.

Effective Date: November 12, 2025

This Privacy Policy for New Century Mortgages (the “Company”) is effective as of November 12, 2025. By accessing or using the New Century Mortgages Client and Broker Portal (the “Portal”), you acknowledge that you have read, understood, and agree to the collection, use, and disclosure of your information as described in this Policy.

1. Overview

This Privacy Policy describes how New Century Mortgages (“Company,” “we,” “us,” or “our”) collects, uses, discloses, and protects personal information of clients and brokers who access our Portal and related Services.

2. Information We Collect

We may collect:

• Personal Information: Name, address, phone, email, date of birth, Social Security number, financial information, employment details, and loan application data
• Broker Information: Licensing data, NMLS ID, business contact info
• Technical Data: IP address, browser type, cookies, and usage logs

3. How We Use Your Information

We use collected information to:

• Process and manage loan applications
• Verify user identity and eligibility
• Communicate updates, notices, and offers
• Improve our Portal functionality and security
• Comply with legal and regulatory requirements

4. Information Sharing

We may share information with:

• Credit reporting agencies and financial institutions
• Loan investors, servicers, and underwriting partners
• Technology vendors and service providers who assist in operations
• Regulators or authorities when required by law

We do not sell your personal information.

5. Data Security

We maintain administrative, technical, and physical safeguards designed to protect your information against loss, misuse, and unauthorized access.

6. Your Choices and Rights

Depending on your jurisdiction, you may have rights to access, correct, or delete your data, or to limit its use. To exercise these rights, contact us using the details below.

7. Cookies and Tracking

We use cookies and similar technologies for authentication, analytics, and personalization. You may disable cookies in your browser, though some features may not function properly.

8. Retention of Data

We retain personal data as long as necessary to fulfill the purposes described above or as required by law.

9. Compliance with U.S. Laws

This Policy is intended to comply with applicable federal and state privacy laws, including the Gramm-Leach-Bliley Act (GLBA) and, where applicable, the California Consumer Privacy Act (CCPA).

10. Changes to This Policy

We may update this Policy periodically. Updates will be posted with an updated “Last Updated” date.

11. Contact Us

For privacy questions or data requests:
New Century Mortgages
[email protected]