The following details the Terms and Conditions for use of LoanSystems.com, also known as LoanSystems. By using LoanSystems, you hereby agree to be bound by these Terms and Conditions. These Terms and Conditions may be updated from time to time. Any updates will appear on this page and are accessible by logging in and navigating to the Terms and Conditions page.
LoanSystems is a web-based networking and loan origination platform for mortgage originators. LoanSystems is owned and operated by LoanSystems, Inc., a California Corporation with offices at 18000 Studebaker Road, Suite 700, Cerritos, California 90703. LoanSystems provides web-based tools to help mortgage professionals market their services, receive questions from prospective borrowers, accept pre-qualification requests and loan applications, complete loan applications and export for use in their Loan Origination Software, track the status of loan applications, receive loan referrals from their real estate and business associates, and connect clients and associates with their social media pages.
LoanSystems.com tools include the following:
Mortgage originators with an active Paid User account use these tools for a monthly or yearly fee, which are found on the sign-up page. Promotional or multi-user discounts may be offered and apply from time to time.
LoanSystems is also designed to assist the real estate associates of mortgage professionals refer clients to their mortgage associates with greater ease and security.
Information. If any information provided to LoanSystems, Inc. changes or becomes inaccurate or misleading, the user shall promptly update their user information and Loan Concierge Page, if applicable. Intentionally inaccurate or misleading information may be cause for suspension or cancellation of the user account.
Use. Users are responsible, at the user’s expense, for all equipment and software required to access and use the service, including, but not limited to, computer, Internet access, and any programs required to create and/or edit images or documents uploaded to LoanSystems.com.
Compliance. Users shall use the service in compliance with all applicable laws, and in accordance with this agreement and any applicable standards. Users shall promptly notify LoanSystems, Inc. if they become aware of a breach of this agreement.
Restrictions. Users shall:
Representation. User represents to LoanSystems, Inc. that:
Ownership. LoanSystems, Inc. retains sole ownership of the website, all of its pages, databases, and features. All images offered by LoanSystems, Inc. for use on Loan Concierge Pages are subject to licensing agreements between LoanSystems, Inc. and its authorized stock photo providers. Use of stock images on a Loan Concierge Page does not entitle the user to any rights or privileges in connection with the images beyond the purposes stipulated in this agreement, or as independently stipulated between the user and a stock image provider per the Terms and Conditions agreed to by the user in relation to said images.
Users shall not violate any business or individual’s intellectual property rights, trademarks, licenses or copyrights through the unauthorized use of images, logos, or photographs uploaded to their Loan Concierge Page.
Reputation. Users shall not use the service in any way that may damage or adversely impact LoanSystems, Inc.’s reputation, including using the service to promote any website, or service that could be considered to be Associated with unlawful activity, defamation, or copyright infringement.
To prevent unauthorized access and use, maintain data security, and ensure the proper and lawful use of information, LoanSystems, Inc. takes vigorous security measures to protect against the loss, abuse and alteration of the information that transits its website and/or is stored on LoanSystems, Inc. servers. These security measures may be further enhanced at any time and may be unannounced.
LoanSystems, Inc. may contain links to third party websites. Once any user has used these links and left our website, LoanSystems, Inc. is no longer responsible for the privacy practices or the content of any linked third-party websites. We encourage all users to read the privacy statement applicable to any websites visited or linked to from LoanSystems, Inc.
Norton Secure Site. LoanSystems.com is secured by a Norton EV SSL, which pairs advanced security features with the highest level of Certificate validation. Extended Validation (EV) Certificates are used by the world’s largest brands to control their online presence and protect their brand.
Payment. By accepting this agreement, user agrees to the Service Fee for services provided as stipulated on the LoanSystems.com sign-up page. LoanSystems, Inc. may modify the Service Fee from time to time.
Any changes to the Service Fee for new users will not affect existing users whose Service Fee will remain the same as when their account was set-up for the duration of their use of the service. This stipulation is not applicable to new services or features offered by LoanSystems, Inc., and accepted by the user under the Terms and Conditions, and Fee Schedule of said services or features.
Any reduction is the Service Fee will be applicable to all users.
Cancellation of Service. If user decides to discontinue use of the service for any reason, all Terms and Conditions stipulated in this agreement remain in full force.
LoanSystems, Inc. is committed to the privacy of all users of our website and services. Protecting the privacy of our users is one of our top priorities. LoanSystems, Inc. has a strict policy of maintaining the confidentiality of all that use this service. Names, e-mail addresses, telephone numbers, and other information provided by users are never sold, shared, rented, leased, or otherwise disclosed to any third party without the express consent of the user, except as may be required to comply with any applicable law, regulation, legal process or governmental request.
This agreement is effective upon user’s acceptance and lasts as long as the user uses the service of LoanSystems.com.
To terminate service, logon to the Dashboard, go to Account Information, and click the “Cancel Account” link that appears toward the lower portion of the page. Upon closing your account, your Loan Concierge Page will no longer be accessible, and any of your Loan Referral Links or Loan Origination Links will display a message notifying the user that the corresponding account is no longer active and to contact you directly for further assistance.
If your account is billed monthly, you will no longer be billed after closing your account, but you will not be refunded a prorated balance for the remaining portion of the thirty-day billing period. If your account is billed yearly, you will no longer be billed after closing your account, but you will not be refunded a prorated balance for the remaining portion of the yearly billing period.
If you wish to reopen your account after it has been closed, if you are within 30 days, logon to the Dashboard, go to Account Information, and click the “Reopen Account” link that appears toward the lower portion of the page. Once 30-days have passed, you will need to set-up a new account if you wish to reestablish service.
Warranty Disclaimers. ALL LOANSYSTEMS, INC. SERVICES ARE PROVIDED "AS IS" AND "AS AVAILABLE”. LOANSYSTEMS, INC. DOES NOT WARRANT THAT ITS SERVICES WILL MEET USER’S EXPECTATIONS OR THAT ACCESS TO SERVICES WILL ALWAYS BE TIMELY OR ERROR-FREE.
Limitation on Liability. THE CUMULATIVE LIABILITY OF LOANSYSTEMS, INC. AND ITS AFFILIATES, AND EACH OF THEIR OFFICERS, DIRECTORS, PARTNERS, EMPLOYEES, CONTRACTORS, AND AGENTS, RESULTING FROM OR CONNECTED TO THIS AGREEMENT IS LIMITED TO THE AMOUNT PAID BY USER TO LOANSYSTEMS, INC. DURING THE 12 MONTHS IMMEDIATELY PRIOR TO WHEN THE LIABILITY OCCURRED. USER WAIVES ALL CLAIMS FOR ANY SPECIAL, INCIDENTAL, INDIRECT, OR CONSEQUENTIAL DAMAGES RELATED TO THIS AGREEMENT, INCLUDING ALL DAMAGES FOR LOST PROFITS, REVENUE, USE, OR DATA.
Internet Frailties. Neither party is liable for any failure or delay in performing its obligations under this agreement to the extent that the circumstances causing such failure or delay are beyond a party’s reasonably control. User acknowledges that LoanSystems, as an Internet-based service, is subject to the operation and telecommunication infrastructures of the Internet and the operation of user’s Internet connection services, all of which are beyond LoanSystems, Inc.’s control.
Obligation. User shall indemnify LoanSystems, Inc. and its contractors, agents, employees, officers, directors, shareholders, affiliates, and assigns (each an "Indemnified Party") against all liabilities, claims, damages, costs, and expenses, including reasonable attorney's fees, related to:
Requirement. The parties shall settle any dispute or claim related to this agreement and the LoanSystems, Inc.’s website using binding arbitration in accordance with the Arbitration Rules of the American Arbitration Association (AAA) and in accordance with the laws of the State of California. The parties shall hold all arbitration proceedings in Los Angeles, California. The parties shall settle all such disputes and claims settled in this manner in lieu of any action at law or equity; except that nothing in this subsection precludes a party from bringing an action for injunctive relief or other equitable relief.
Proceeding. The parties shall use a single arbitrator appointed by the AAA to arbitrate a dispute or claim. The arbiter must exhibit a reasonable familiarity with the issues. The award of the arbitrator is binding and final upon all parties. Either party may have a court with proper jurisdiction enter the award. This agreement remains in full force and effect while the outcome of the arbitration proceeding is pending. The arbitrator shall follow applicable law in conducting the arbitration.
Costs. A party shall pay any costs, including reasonably attorney fees, to which the arbitrator determines that the prevailing party is entitled. Each party shall pay its own costs Associated with the arbitration if such costs are not awarded by the arbitrator. The arbitrator may not award punitive damages or speculative damages to either party and does not have the power to amend this agreement.
Independent Contractors. LoanSystems, Inc. and users are independent contractors and not agents or employees of each other. Neither party has the power to bind or obligate the other. Each party is responsible for its own expenses and employees.
Entire Agreement. This agreement, along with all documents referred to herein, constitutes the entire agreement between the parties.
Governing Law and Jurisdiction. The laws of the state of California govern the interpretation, construction, and enforcement of this agreement and all matters related to it, including tort claims, without regards to any conflicts-of-laws principles. The parties hereby submit to the exclusive jurisdiction of and venue in the state and federal courts located in the State of California.
Effective as of November 1, 2018