Printable Maryland Net Tangible Benefit Worksheet Template

The Maryland Net Tangible Benefit Worksheet is a form mandated by the Commissioner of Financial Regulation to ensure that borrowers understand the advantages of refinancing their mortgage loans. This worksheet helps individuals assess whether a new mortgage will provide a tangible benefit compared to their existing loans. To facilitate this important process, click the button below to fill out the form.

Open Maryland Net Tangible Benefit Worksheet Editor

Open Maryland Net Tangible Benefit Worksheet Editor

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The Maryland Net Tangible Benefit Worksheet is a crucial document designed to ensure that borrowers understand the implications of refinancing their mortgage loans. This form, mandated by the Commissioner of Financial Regulation, aims to provide a clear assessment of the tangible benefits associated with a new mortgage. It requires borrowers to evaluate their current loan terms against those of the proposed loan, considering factors such as interest rates, monthly payments, and potential changes in loan structure. By signing the worksheet, borrowers acknowledge their understanding of the costs involved and confirm that the new loan will offer a meaningful advantage over their existing mortgage. The worksheet also allows borrowers to identify specific benefits they may receive from refinancing, including lower interest rates, reduced monthly payments, or the elimination of private mortgage insurance. This structured approach not only protects consumers but also promotes transparency in the lending process, ensuring that borrowers make informed decisions that align with their financial goals.

Maryland Net Tangible Benefit Worksheet Preview

S T A T E O F M A R Y L A N D

COMMISSIONER OF FINANCIAL REGULATION

500 North Calvert Street, Suite 402

Baltimore, Maryland 21202

Net Tangible Benefit Worksheet

This Net Tangible Benefit Worksheet has been prescribed by the Commissioner of Financial Regulation in conformity with COMAR 09.03.06.20 and COMAR 09.03.09.04 (Duty of Care). Persons complying with these regulations shall use a form substantially similar to this form.

All information must be typed or printed.

This form shall be maintained in the broker/lender

licensee’s loan files pursuant to COMAR 09.03.06.04 “Records”.

Name of Borrower(s):	_______________________________________________
	_______________________________________________

Mortgage
Originator
Name:
Employer:
MD License #:
Business
Address:
City:	State:	Zip code:
Direct Tel #:		Toll Free #:
Fax:		Email:

Lender Name:
MD License #:
Business
Address:
City:	State:	Zip code:
Direct Tel #:		Toll Free #:
Fax:		Email:

Broker Name:
MD License #:
Business
Address:
City:	State:	Zip code:
Direct Tel #:		Toll Free #:
Fax:		Email:

I/We, the undersigned borrower(s), plan to enter into a transaction which refinances one or more existing mortgage loans with a new mortgage loan secured by my/our home located at:

Address:
City:	State:	Zip code:

NTBW

Page 1

Rev. 11/12/08

I/We acknowledge that:

I/We understand the costs associated with the new loan;

The new loan may have different terms (including duration of term and rate of interest) than my/our existing loan(s); and

The new loan will provide a reasonable, tangible net benefit to me/us after taking into account the terms of both the new and existing loan(s), the cost of the new loan, and my/our particular circumstances.

By refinancing my/our existing loan(s), the following benefits apply to me/us (each borrower should initial any benefit that applies):

______	______ Obtaining a lower interest rate.
______	______ Obtaining a lower monthly payment, including principal, interest, taxes, and insurance.
______	______ Obtaining a shorter amortization schedule.
______	______ Changing from an adjustable rate to a fixed rate.
______	______ Eliminating a negative amortization feature.
______	______ Eliminating a balloon payment feature.
______	______ Receiving cash-out from the new loan in an amount greater than all closing costs incurred in
	connection with the loan.
______	______ Avoiding foreclosure.
______	______ Eliminating private mortgage insurance.
______	______ Consolidating other existing loans into a new mortgage loan.
______	______ Other (please specify): ________________________________________________________
	__________________________________________________________________________

I/We have considered the terms of both the existing and new loans, the cost of the new loan, and my/our personal circumstances. I/We believe the overall benefits of the new loan make the new loan beneficial to me/us for the reason or reasons identified above. By signing below, I/we certify that I/we have read and understand this Net Tangible Benefits Worksheet.

Borrower: ____________________________________________	Date: _____________________
Borrower: ____________________________________________	Date: _____________________
	NTBW
	Page 2
	Rev. 11/12/08

Click for Maryland Net Tangible Benefit Worksheet File

Form Attributes

Fact Name	Details
Governing Law	This form is governed by COMAR 09.03.06.20 and COMAR 09.03.09.04.
Purpose	The worksheet is designed to assess the net tangible benefits of refinancing a mortgage.
Required Use	It must be used by persons complying with the specified regulations.
Information Format	All information on the form must be typed or printed clearly.
Record Keeping	The form should be maintained in the broker/lender licensee’s loan files.
Borrower Acknowledgment	Borrowers must acknowledge understanding the costs and terms of the new loan.
Benefits Listing	Borrowers can select multiple benefits that apply to their refinancing situation.
Signature Requirement	Borrowers must sign the form to certify understanding and agreement.
Revision Date	The current version of the form was revised on November 12, 2008.

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