Licensing & Disclosures
Last modified: February 8, 2021
COS is a marketing lead generator, required to be licensed as a Consumer Loan Broker or other state license designation. COS DOES NOT take personal loan applications, originate, service, make loans or credit decisions in connection with loans, nor does COS issue commitments or lock-in agreements. COS’s services are only administrative. Any loan inquiry you submit is not an application for credit. Rather, it is an inquiry to be matched with Lenders to receive condition loan offers from Lenders. You may have to complete an application with a Lender before they will extend an unconditional offer. A Lender you select may require you to pay an application or other fee to cover the costs of an appraisal, credit report or other items. The Lender, not COS, will determine the amount of any such fee and should provide information to you regarding the refundability of any such fee.
COS does not endorse or recommend the products of any particular Lender. Except as otherwise provided for your state, COS is not an agent of you or any Lender. You should rely on your own judgment in deciding which available loan product, terms and Lender that best suits your personal financial requirements. The Lender is solely responsible for its services to you, and you agree that COS shall not be liable for any damages or costs of any type arising out of, or in any way connected with, your use of such services. You understand that Lenders may keep your loan request information and any other information provided by COS or received by them in the processing of your loan request, whether or not you are qualified for a loan with them or if you make a loan with them. In addition, COS may receive personally identifiable information regarding the disposition of your loan from the Lender in order to fulfill its regulatory requirements as well as for internal business purposes. You agree to notify any particular Lender directly if you no longer want to receive communications.
COS does not charge you any fee for its services. COS receives its compensation from the Lenders or Providers for the goods, facilities and services provided by COS. COS’s compensation varies by product and service. Marketing fees paid by the Lender or Provider may be included in your rate, points or term. Although some state licensing laws treat fees paid in exchange for marketing lead generation services as mortgage broker fees or origination fees, this is not the case under federal law.
Any loan request you submit is not an application for credit. Rather, it is a request to be matched with Lenders to receive conditional loan offers from Lenders. You may have to complete a full application with a Lender before they will extend an unconditional loan offer. A Lender you select may require you to pay an application or other fee to cover the costs of an appraisal, credit report as well as for other items. The Lender will determine the amount of any such fee(s) and should provide information to you regarding the refundability of any such fee(s).
Any request will be forwarded to Lenders (depending on product selected) and these Partners may make certain disclosures to you. These disclosures, which are required by the Truth in Lending Act (TILA) and certain other federal and state laws. The agency that administers compliance with this law varies by Lender depending on its lending authority, but may include the Federal Trade Commission, Equal Credit Opportunity, Consumer Response Center, Washington, DC 20580 or at 1-877-FTC-HELP (1-877-382-4357); TDD 1-866-653-4261; or at www.ftc.gov.
The company’s Nationwide Mortgage Licensing System (NMLS) Identification Number is 1972751.
COS is currently in the process of acquiring the appropriate state licenses where we plan on operating. Once we are in operation in your state you will find our state specific information below. If we do not have your state information below, we are either in the process to obtain a license to operate there or we do not need a license in your state. Please call our customer service line with any questions.