Mortgage Broker Agreement Format

This Mortgage Broker Agreement ("Agreement") is made and entered into on [DATE], by and between [YOUR NAME], of [YOUR COMPANY NAME], located at [ADDRESS], hereinafter referred to as "Broker," and [CLIENT NAME], hereinafter referred to as "Client."

I. PURPOSE OF THE AGREEMENT

This Agreement outlines the terms and conditions under which Broker will act as the mortgage broker for the Client, assisting in securing a mortgage loan on behalf of the Client.

II. BROKER'S RESPONSIBILITIES

1. The Broker shall:

   • Advise the Client regarding mortgage loan options.

   • Assist the Client in completing necessary documentation for loan applications.

   • Submit loan applications to lenders.

   • Facilitate communication between the Client and the lender(s).

   • Assist with negotiating terms, rates, and fees with lenders on behalf of the Client.

2. The Broker is not a lender and does not make final decisions on loan approvals. The Broker's role is to facilitate the process and present options.

III. CLIENT'S RESPONSIBILITIES

1. The Client shall:

   • Provide all necessary documents and information required for the mortgage application process.

   • Pay all applicable fees as described in Section VI of this Agreement.

   • Cooperate with the Broker in good faith throughout the process.

2. The Client acknowledges that the Broker does not guarantee loan approval, nor does the Broker control the lending decision-making process.

IV. TERM OF THE AGREEMENT

This Agreement shall commence on the date first written above and shall remain in effect until the loan is closed or terminated by either party with thirty (30) days written notice.

V. COMPENSATION

1. The Client agrees to pay the Broker a fee of [FEE AMOUNT], which may be due upon loan approval or closing, as outlined in the Broker’s Fee Schedule.

2. In the event that the Client secures financing through a lender found by the Broker, the Broker shall be entitled to a commission as per the terms agreed upon in the Fee Schedule attached hereto.

VI. FEES AND PAYMENT

1. The Broker will charge the Client fees as set forth in [BROKER FEE SCHEDULE], which includes, but is not limited to, application fees, processing fees, and closing fees.

2. Fees are due and payable in accordance with the schedule provided by the Broker and may be deducted from the loan proceeds at closing or paid directly by the Client.

VII. CONFIDENTIALITY

Both the Broker and the Client agree to maintain the confidentiality of all personal and financial information shared during the mortgage process, in accordance with applicable privacy laws and regulations.

VIII. TERMINATION

1. Either party may terminate this Agreement by providing thirty (30) days written notice to the other party.

2. In the event of termination, the Client agrees to pay any fees for services rendered up to the date of termination.

IX. WARRANTIES AND DISCLAIMERS

1. The Broker makes no warranties or guarantees regarding the approval of a mortgage loan or the terms and conditions of any loan offered by a lender.

2. The Broker is not responsible for any delays, errors, or denials caused by the lender or third parties.

X. INDEMNIFICATION

The Client agrees to indemnify and hold harmless [YOUR COMPANY NAME] and the Broker from any claims, damages, or liabilities arising from the Client's failure to provide accurate information, failure to cooperate, or any other action that results in a breach of this Agreement.

XI. GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the state of [STATE], without regard to its conflict of laws principles.

XII. DISPUTE RESOLUTION

1. Any disputes arising under or in connection with this Agreement shall first be addressed through informal negotiation between the parties.

2. If a resolution cannot be reached, the parties agree to submit the dispute to mediation or binding arbitration in [LOCATION], under the rules of the American Arbitration Association.

XIII. ENTIRE AGREEMENT

This Agreement constitutes the entire understanding between the Broker and the Client regarding the subject matter hereof and supersedes all prior discussions, representations, or agreements.

IN WITNESS WHEREOF, the parties hereto have executed this Mortgage Broker Agreement as of the date first above written.

[YOUR NAME]
[YOUR COMPANY NAME]
By: ___________________________
Date: _________________________

[CLIENT NAME]
By: ___________________________
Date: _________________________

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