Please see below for answers to Frequently Asked Questions (FAQs) regarding the Cabrales v. Castle & Cooke Mortgage, LLC class action settlement (Settlement). This set of FAQs is directed towards individuals inquiring about the Cabrales Settlement Lender Credit (Lender Credit Certificate).

 

Does the Lender Credit Certificate automatically qualify me for a new loan with Castle & Cooke Mortgage?

  • No, the possession of a Lender Credit does not constitute a loan approval. Applicants must still qualify per the terms and conditions of their particular loan program.

What happens if I did not receive a Lender Credit Certificate?

  • The Lender Credit Certificate applies to participating class members. If you did not receive a Lender Credit Certificate associated with the Settlement, you may not be a participating class member. If you feel you are entitled the Lender Credit Certificate and did not receive it in error, please contact the Claims Administrator associated with this Settlement.

May I use the Lender Credit Certificate for a purchase transaction?

  • Yes, the Lender Credit Certificate is valid for mortgages used to purchase a home.

May I use the Lender Credit Certificate for a refinance transaction?

  • Yes, the Lender Credit Certificate is available for a refinance transaction.

May I use the Lender Credit Certificate retroactively for a transaction that has already closed?

  • No, the Lender Credit Certificate only applies to new transactions that have not yet closed.

May I use the Lender Credit Certificate as a payment for my current loan with Castle & Cooke Mortgage?

  • No, the Lender Credit Certificate only applies to new transactions that have not yet closed.

May I use the Lender Credit Certificate for a transaction that is currently in the origination process (application taken) but has not closed?

  • Yes, the Lender Credit Certificate is available for use on a transaction for which the application has been taken but has not closed.

What happens if I pay for an appraisal and don’t end up closing my loan?

  • The Lender Credit Certificate will not get applied to the cost of the appraisal unless you close the loan; you will be able to retain the Lender Credit Certificate for a transaction that closes with Castle & Cooke Mortgage.

Can I use the $500 Certificate to buy down the interest rate on my transaction?

  • Yes, the order in which the Lender Credit Certificate is applied may allow the credit to be used to buy down the rate. However, please note that the Lender Credit Certificate must be used towards other origination costs prior to applying them to cost to buy down the rate.

When will the Lender Credit be applied?

  • At closing, you will be expected to pay the upfront out-of-pocket expenses associated with your loan origination. The Lender Credit Certificate will be applied when your transaction closes.

Can I use multiple certificates?

  • No, using multiple lender credits on one transaction is not allowed.  Only one lender credit may be used on each proposed transaction.

Can I get a settlement check instead of using the voucher?

  • No, the Lender Credit Certificate is limited to use on new transactions with Castle & Cooke Mortgage.

Can this be applied to a brokered loan?

  • No, the Lender Credit Certificate is only valid for loans that close in Castle & Cooke Mortgage’s name.

How do I transfer my Lender Credit Certificate?

  • Your $500 Lender Credit is transferable. Transferring the credit to another individual will require confirmation from both the original Credit recipient and the transferee, and notification of Castle & Cooke Mortgage within 30 days of the intended transfer.

I have lost my Lender Credit Certificate, may I still get $500 credit towards a transaction?

  • If you did not receive a Lender Credit or if it has been misplaced, please call 855-914-2738 and indicate you are inquiring about the Settlement Lender Credit. We will locate your information in our Lender Credit registry to confirm your eligibility.

Who should I contact if I have more questions?

  • For questions about your participation or omission in the Settlement: