Terms of Service for Commercial Mortgages
The Drive Team
Last Updated: August 21, 2025
Welcome to the website of The Drive Team, a licensed mortgage team operating in Washington State. These Terms of Service ("Terms") govern your use of our website and commercial mortgage-related services. By accessing or using our website or services, you agree to be bound by these Terms. If you do not agree with these Terms, you should not use our website or services.
1. About Our Commercial Mortgage Services
The Drive Team provides mortgage brokering and loan origination services for commercial properties, connecting borrowers with lenders to facilitate commercial mortgage loans in Washington State. We are licensed by the Washington State Department of Financial Institutions (DFI) under the Consumer Loan Act (RCW 31.04) where applicable. We comply with all relevant state and federal regulations, including the Equal Credit Opportunity Act (ECOA, 15 U.S.C. § 1691). Our services include, but are not limited to, assisting with commercial loan applications, providing loan option information, and facilitating communication between borrowers and lenders for commercial properties.
2. Eligibility
To use our commercial mortgage services, you must:
Be a legally recognized entity (e.g., corporation, LLC, partnership) or an individual at least 18 years of age authorized to act on behalf of such an entity.
Provide accurate and complete information as requested during the loan application process.
Seek financing for commercial property located in Washington State or other areas where we are licensed to operate. We reserve the right to refuse service to anyone who does not meet these eligibility requirements or who fails to comply with applicable laws.
3. Disclosure Requirements
We will provide clear, written disclosures of all material terms of your commercial mortgage loan, including fees, costs, interest rates, and loan terms, in accordance with RCW 31.04 and industry standards. Disclosures will be provided in a timely manner as agreed upon in writing or as required by applicable law. If your loan involves a lock-in agreement, we will provide written terms specifying the agreed-upon interest rate and conditions.
4. Fees and Compensation
We may charge fees for our commercial mortgage services as permitted by Washington State law (RCW 31.04) and industry standards. All fees and compensation will be clearly disclosed in writing and agreed upon prior to service. We will not charge fees prohibited by state or federal law. For loans that do not close, we may charge limited fees for services rendered (e.g., document preparation, credit reports), as allowed by law and agreed upon in writing.
5. Trust Account Obligations
Any funds you provide to The Drive Team for third-party services (e.g., appraisals, environmental reports) will be held in a trust account in compliance with RCW 31.04 and applicable regulations. These funds are deemed to be held in trust and will only be used for their intended purpose. We maintain detailed records of all trust account transactions and will provide an accounting upon request, as required by Washington law.
6. Privacy and Data Security
We are committed to protecting your business and personal information. Our collection, use, and disclosure of your information are governed by our Privacy Policy, which complies with applicable Washington State regulations and federal laws, including the Gramm-Leach-Bliley Act (15 U.S.C. § 6801) where applicable. We will not share your nonpublic business or personal information with third parties except as necessary to provide our services or as required by law. You acknowledge that providing accurate information is essential for processing your loan application.
7. Prohibited Practices
The Drive Team adheres to strict ethical and legal standards, including those outlined in RCW 31.04 and applicable federal regulations. We will not:
Engage in deceptive advertising practices, such as claiming rates or fees are the “lowest” or “best” without verifiable proof.
Misrepresent our affiliation with any government agency or financial institution.
Charge fees prohibited by state or federal law.
Discriminate against any applicant based on protected characteristics under the Equal Credit Opportunity Act (15 U.S.C. § 1691).
8. Loan Servicing and Transfers
If your commercial loan’s servicing is sold, transferred, or assigned, you will be notified in writing as required by applicable law or industry standards. We will ensure that all required disclosures regarding the transfer are provided in accordance with any applicable state and federal regulations.
9. Limitation of Liability
To the fullest extent permitted by law, The Drive Team is not liable for any indirect, incidental, consequential, or punitive damages arising from your use of our website or commercial mortgage services. Our liability is limited to the amount of fees paid to us for the specific service in question. We do not guarantee loan approval, specific loan terms, or the performance of third-party lenders.
10. Governing Law
These Terms are governed by the laws of the State of Washington and applicable federal law, including but not limited to RCW 31.04 and ECOA. Any disputes arising under these Terms will be resolved in the state or federal courts located in Washington State.
11. Changes to These Terms
We may update these Terms from time to time to reflect changes in our practices or legal requirements. The updated Terms will be posted on our website with the “Last Updated” date. Your continued use of our website or services after such changes constitutes your acceptance of the revised Terms.
12. Contact Us
If you have questions about these Terms or our commercial mortgage services, please contact us at:
The Drive Team
Email: [email protected]
Phone: (206)737-7883
By using our website or commercial mortgage services, you acknowledge that you have read, understood, and agree to be bound by these Terms of Service.