Minimum Quality Requirements Qualitative

SALAL CREDIT UNION SUBORDINATION REQUIREMENTS
UCC Filings
In order to consider a request for subordination of our UCC lien to your proposed mortgage loan, the
following information is required:
1. Request for subordination on Lender’s company letterhead. Please include the following:
a. Items being sent over to Salal from Lender (e.g. Title Commitment, Application, etc.)
b. Lender contact information
c. Return mailing address for Subordination form. If overnight mail is requested, please
provide a FedEx account number or FedEx shipping label and envelope. Salal does not
use UPS.
2. Form 1003 Mortgage Application.
3. Copy of the Title Commitment showing current vesting and recording information for Salal CU
Deed of Trust.
4. Approval letter showing the new loan amount.
5. Payment of $100.00 fee for completion of subordination – please reference our borrower’s
name and loan number or Social Security number on the check.
6. Completed Subordination Agreement – Salal will sign and notarize document.
Return to:
Salal Credit Union
Attn: Loan Servicing
1515 Dexter Ave N
PO Box 19340
Seattle, WA 98109-1340
Please allow approximately two weeks for turnaround. For questions on the above requirements,
please contact:
Norman Calhoun at 206.826.7671 or [email protected]
Matt LaFon at 206.826.7623 or [email protected]
This Credit Union is federally insured by the National Credit Union Administration.
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