The following documents/information is required to consider a request to subordinate an Avidia Bank Home Equity Line of Credit/Mortgage:
Directly email all documents to modificationrequests@avidiabank.com
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 without 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 would like your document returned overnight, please include a prepaid, self-addressed overnight return envelope from your preferred shipping provider.
Check can be mailed to:
Avidia Bank - Residential Lending
(Subordination/Modification)
42 Main Street
Hudson, MA 01749
Other ways you can contact us:
Our Avidia Loan Support specialists are available by phone Monday-Friday 8:00 a.m-4:30 p.m.
Residential Mortgage and Consumer Loan Support: 978-567-3690
Commercial and Business Loan Support: 978-567-3592
Fax Number: 978-562-3827
