Mortgage Broker Agreement Template Page 2
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3Fees, terms, conditions and interest rate ____ are ____ are not subject to change prior to or
at closing.
II.
SERVICES TO BE PROVIDED BY MORTGAGE BROKER COMPANY
In consideration for the mortgage broker company earning its fee, the services to be provided by
the mortgage broker company are as follows (check all that apply):
____ Taking the mortgage loan application.
____ Assembling information.
____ Reviewing, analyzing and evaluating the applicant’s financial statements, income and
credit history.
____ Processing the mortgage loan file including verifying of information.
____ Preparing all paperwork and documentation necessary for a conditional mortgage loan
approval.
____ Arranging for a conditional mortgage loan commitment between the applicant and a
lender.
____ Other: ___________________________________________________________
__________________________________________________________________
III.
FEES
You understand that the mortgage broker company will collect certain fees and charges for its
services. In order to be collected, all such fees and charges must be disclosed on the Good
Faith Estimate (“GFE”) form. Be sure to review the GFE closely and promptly upon
receipt.
With the exception of a fee to run a credit report, mortgage brokers are prohibited from
collecting any fees prior to the delivery of the GFE. If the disclosures are mailed to an applicant,
the applicant is considered to have received the disclosures three business days after they are
mailed.
IV.
NATURE OF RELATIONSHIP
The mortgage broker company, at all times when acting in the capacity of a mortgage broker, has
an agency relationship with the applicant.
V.
DUTIES
The mortgage broker company owes the applicant all of the following duties:
A.
The mortgage broker company shall act in the applicant’s best interest and in the utmost
good faith toward the applicant, and may not compromise the applicant’s rights or interests in
favor of another's rights or interests, including those of the mortgage broker company.
B.
The mortgage broker company may not accept, give, or charge any undisclosed
Ver 11/ 2010
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