Subordination Requirements

Subordination Checklist

Print Checklist


1. Approval Letter

Copy of Approval Letter from new lender.

2. Underwriting and Transmittal Summary

Copy of Underwriting and Transmittal Summary (Form 1008).

3. Uniform Residential Loan Application

Copy of Uniform Residential Loan Application (Form 1003).

4. Current Property Valuation

Complete and legible copy of current Property Valuation (including photos if applicable).

5. Subordination Agreement

Completed Subordination Agreement, prepared by new lender or escrow, ready for the Credit Union's signature.

6. Subordination Fee

Subordination fee of $100.00. Make check payable to: Caltech Employees Federal Credit Union.

Fee is required up-front for processing the request and does not guarantee an approval. Subordination fees paid are non-refundable regardless of the credit decision.

7. Overnight postage envelope or Account number

Include your overnight postage envelope or account number if you wish for the signed Subordination Agreement to be returned by next day.


Send all documentation to:

Caltech Employees Federal Credit Union
Attn: Real Estate Department
801 Foothill Boulevard
La Cañada Flintridge, CA 91011

 
Our estimated processing time is 48 hours.
If you have any questions, please feel free to contact our Real Estate Department at (800) 592-3328, ext. 696.
 

 
Revision 9/27/2010.
 
Current CEFCU rates can be found on our Real Estate Loan Center. Real estate loans are available only for residential properties in the state of California. Certain exceptions may apply for jumbo loans or property types. Property insurance is required. All loans subject to credit approval. Rates and terms are subject to change without notice. CEFCU is an Equal Housing Lender. NMLS #626590.