Our transfer agent is Computershare Shareholder Services, their toll free number is 1(800)368-5948 or contact them via the internet at https://www-us.computershare.com/investor/Contact/Enquiry.
The transfer agent can assist shareholders with most stock registration matters including change of address, lost certificates, and transfer of ownership.
If you would like to request additional information on Kearny Financial Corp., please contact Craig L. Montanaro at (973)-244-4510 or via the internet at cmontanaro@kearnybank.com.
Interest rates are influenced by the financial markets and can change daily – or multiple times within the same day. The changes are based on many different economic indicators in the financial markets. View our current interest rates.
A rate lock gives you protection from financial market fluctuations that could affect your interest rate range.
You can choose to lock or not lock your interest rate range. On the date and time you lock, that interest rate range remains available to you for a set period of time.
If there are no subsequent changes to your loan and your interest rate range is locked, the interest rate range on your application generally remains the same.
If there are changes to your loan, your final interest rate at closing may be different.
Locking ensures that your loan pricing will be unaffected during the lock-in period by giving you a specified period of protection from financial market fluctuations in interest rates.
Locking sets the range of pricing available to you; it doesn’t guarantee that a specific rate will apply.
Your final rate, which may not be determined until closing, will reflect the pricing that was available at the time you locked.
Floating – or not locking – means your rate will fluctuate with the up and down movements of the market.
The benefit to floating is if interest rates were to decrease, you would have the option of locking in at a lower level of rates.
The fee for locking varies.
You can lock anytime you locate a property, or start your refinancing process, up until ten business days before the closing.
You can select a specific length of time for your lock, usually 60 days.
Proof of homeowners insurance will be required before you can close your loan. Typically, you will need to present an insurance binder and pay for one year’s worth of insurance coverage.
An insurance policy protects a lender and/or homebuyer (only if homebuyer purchases a separate policy, called owner's coverage) against any loss resulting from a title error or dispute.
The amount you can borrow is largely determined by taking your home's appraised or fair market value, and subtracting the balances of any outstanding mortgages and liens on the property. If you qualify, the minimum home equity loan or line of credit amount is $10,000 (California $20,000) and in most cases the maximum is $500,000.
During the Draw Period, a home equity line of credit has a variable interest rate that is calculated by adding a preset margin (as defined in your Home Equity Line of Credit Agreement) to the Wall Street Journal Prime Rate. Your rate and payments will increase or decrease as the Prime Rate changes.
A home equity loan has a fixed interest rate that is set at the time you close your loan, so your interest rate and monthly payments won’t change with rate fluctuations.
The home equity line of credit provides a fixed-rate advance option that allows you to convert all or a portion of your line of credit balance to a fixed rate and term.
Decide which one is right for you.
A fixed mortgage and adjustable-rate mortgage (ARM) differ mainly in how they structure their interest rates. With a fixed mortgage, the interest rate stays the same throughout the loan's life, giving you predictability and stability in monthly payments. On the other hand, an ARM starts with a lower initial interest rate that can change periodically (usually yearly) based on market rates. This can result in lower initial payments but brings in some uncertainty and the possibility of higher payments down the line. So, choosing between the two depends on your financial situation, risk tolerance, and how you feel about interest rate fluctuations.
The program administrator has not experienced a bank failure within the sweep program since the program's inception in 2011. On an annual basis, the program administrator tests its procedures for filing an FDIC claim for a "mock" bank failure to ensure a timely filing of a claim in the event of an actual bank failure.
The beneficial ownership regulation is a federal law, effective May 11, 20182018, that requires all financial institutions to identify and verify the identity of the beneficial owners of legal entity (certain kinds of businesses) customers as well as a controlling person of the legal entity at the time an account is opened or maintained. The regulation is intended to make financial institutions safer for their customers while protecting the country’s financial system.
As of May 11, 2018, all U.S. financial intuitions will be required to collect beneficial ownership information. The U.S. government implemented the new beneficial ownership regulation to help fight financial crimes. Kearny Bank is doing its part in upholding the new regulation’s requirements to help protect the U.S. financial system. Compliance with regulations has always been of the utmost importance to Kearny Bank, and the new beneficial ownership regulation is treated with the same high-level of importance.
No, all U.S. financial institutions are required to comply with the new beneficial ownership regulation and will be collecting this beneficial ownership information from all applicable customers.
The federal government defines “beneficial ownership” as comprising two roles:
(Ownership): Any individual who directly or indirectly, owns 25% or more of a legal entity customer.
For those persons who have an ownership interest in the legal entity, Kearny Bank is required to identify and collect personal information.
(Control): One individual who has “significant responsibility to control, manage or direct a “legal entity” A person with significant managerial control or influence over a legal entity customer. For example:
Chief Executive Officer,
Chief Financial Officer,
Managing Member,
General Partner, etc.
For each legal entity customer subject to the beneficial ownership rule, Kearny Bank will identify one control person.
(Note: it is possible that the control person may also be an ultimate beneficial owner).
“Legal entity customers” include the following entities created by a filing with a state office or with a Secretary of State:
Corporations
Limited Liability Companies
Limited Partnerships
General Partnerships
Business Trusts
Any other entity created by a filing with a state office
The definition of a “legal entity customer” does not include:
Natural persons
Sole proprietorships
Unincorporated associations, such as a local Girl Scout troop or a neighborhood association
Trusts, other than statutory trusts created by a filing with a state office
Certain legal entities, including the following, are excluded from the Beneficial Ownership rule:
Federal or state regulated financial institutions (federally regulated banks, brokers or dealers in securities, mutual funds, futures commission merchants, and introducing brokers in commodities )
Bank and savings and loan holding companies
State-regulated insurance companies
Publicly held companies listed on the New York, American, or NASDAQ Stock Exchanges
Registered investment advisers and investment companies
SEC-registered exchanges or clearing agencies
Entities registered with the SEC
The new beneficial ownership rule should not affect your existing accounts. However, information will be required for any Certificate of Deposit and Safe Deposit Box that renews. Please be aware that your Kearny Bank branch representative may reach out for beneficial ownership to update your account file, ensuring the necessary compliance for any future financial requests.
Yes, regardless of customer status, information about the ultimate beneficial owners and control person must be provided in order to comply with the regulation.
The Certification of Beneficial Ownership is a legally required form that Kearny Bank must collect from legal entity customers regarding their ultimate beneficial owners and the control person. By completing the form, you are attesting that the information provided is accurate to the best of your knowledge.
Kearny Bank is required to maintain beneficial ownership data in its record system. Kearny Bank maintains very strict privacy policies and procedures and any client information, including beneficial ownership information will not be shared.
No, this information will not be used for marketing or prospecting purposes.
Beneficial ownership information will be collected using Kearny Bank documents and should be returned to your Kearny Bank representative.
Yes, if you are more comfortable providing this information in person, please contact your Kearny Bank representative, directly.
No, the beneficial ownership regulation only applies to applicable legal entity accounts.
You will be able to start the process, but the account will not be opened until we have all of the required information. Please contact your local branch for additional information.