Mortgage Brokerage Agreement

This is a written understanding or contract between you and your mortgage broker. In order for you and your mortgage broker to do business this contract must be agreed to. This contract must contain the period that the mortgage broker will work to locate the proper mortgage and mortgage company for you. The agreement between you and your mortgage broker must also include the exclusivity of such an agreement, an explanation of a mortgage broker’s services and charges or stipulations of the mortgage loan, whether it is a primary mortgage or for mortgage refinancing.

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