Printable Maryland Ntbw Template

The Net Tangible Benefit Worksheet is a form required by the State of Maryland's Commissioner of Financial Regulation. This document is essential for individuals who are refinancing existing mortgage loans, as it ensures that borrowers understand the benefits and costs associated with the new loan. Completing this form accurately is crucial for compliance with Maryland regulations.

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The Maryland Net Tangible Benefit Worksheet (NTBW) is an essential tool for borrowers considering refinancing their existing mortgage loans. This form is designed to ensure that borrowers understand the implications of their refinancing decisions and that they receive a tangible benefit from the new loan. It captures vital information about the borrower, the mortgage originator, and the lender involved in the transaction. The worksheet requires borrowers to acknowledge their understanding of the costs associated with the new loan and the potential differences in terms compared to their existing loans. Key benefits that borrowers might gain from refinancing, such as lower interest rates, reduced monthly payments, or the elimination of private mortgage insurance, are clearly outlined. By signing the form, borrowers confirm that they have carefully evaluated the benefits and costs, ensuring that the refinancing decision aligns with their financial situation. This process not only promotes transparency but also helps protect consumers by ensuring they make informed choices.

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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

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Form Attributes

Fact Name	Fact Description
Governing Laws	The Net Tangible Benefit Worksheet is governed by COMAR 09.03.06.20 and COMAR 09.03.09.04.
Purpose	This form is designed to ensure borrowers understand the tangible benefits of refinancing their mortgage loans.
Mandatory Use	Persons complying with the regulations must use a form that is substantially similar to this worksheet.
Information Requirements	All information on the form must be typed or printed clearly for legibility.
Record Keeping	The form must be maintained in the broker or lender’s loan files as per COMAR 09.03.06.04.
Borrower Acknowledgment	Borrowers must acknowledge understanding the costs and terms associated with the new loan.
Benefits Listing	Borrowers can indicate applicable benefits by initialing specific options related to the new loan.
Certification	By signing the form, borrowers certify that they have read and understood the worksheet.
Revision Date	The current version of the form was last revised on November 12, 2008.

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