The following documents/information is required to consider a request to subordinate a Avidia Bank Home Equity Line of Credit/Mortgage:

1. A written request from either the borrower or the lender providing the new first
mortgage.

2. A check in the amount of $200.00 made out to Avidia Bank. This fee is
non-refundable and your request will not be processed with out it.

3. A copy of the completed mortgage application that was submitted to the new mortgage lender along with the lender’s FNMA Form 1008 underwriting analysis.

4. A complete copy of the new mortgage lender’s appraisal report with all
addendums and photos.

5. A copy of the new mortgage lender’s commitment letter.

6. Copies of income verification obtained by the new first mortgage lender or recent
pay stubs (two years’ signed tax returns for self-employed borrowers ).

7. Address to where the subordination should be mailed.

 

Please note – the closing agent for the new lender is to prepare subordination agreement for execution by the bank.

In some cases, borrowers will be required to execute a modification agreement.

Original Signed Agreement will be mailed back to you. If you want this overnighted, please include a pre-paid Fed-ex Envelope.

 

Documents can be emailed to [email protected]

Check can me mailed to:

Avidia Bank – Residential Lending (Subordination/Modification)
42 Main Street
Hudson, MA 01749