This
agreement between MORTGAGEPROCESSOR.COM, herein after referred to as
MORTGAGEPROCESSOR.COM, and ______________________ herein after referred to
as CLIENT is entered into as of _____________________.
| A. | Processing Fees are
$475 for each loan that is closed and funded. |
| B. | MortgageProcessor.com agrees to overnight your file to one lender, and cover the copy costs involved with submitting your file to that lender. We also agree to pay to have your files returned to you via U.S. Mail after the files have closed. Additional costs involved with processing files for Client including, Fees for verification of employment, and additional copy/courier/overnight fees for submission to more than one lender will be billed on the settlement statement of each loan. |
| C. | Either party may terminate this agreement with
3 days written notice to the
other. If either party terminates
this agreement, CLIENT agrees to pay $200 for each file that CLIENT has
submitted for processing that has been approved by a lender, and pay the full processing fee for
all loans that have closed. Client agrees to deliver a certified check made out to
MortgageProcessor.com for the above
outlined fees in exchange for deliverance of all
CLIENTS files back to CLIENT through US Mail service as payment in full for services
rendered. Optionally, CLIENT may elect to have
files returned through courier or overnight service at it's own expense. |
| D. | The terms of this contract are governed under the laws of Colorado. |
| E. | MortgageProcessor.com. agrees to treat as confidential the names and information obtained about the files they process for CLIENT and will not sell or transfer this information to any other entity. |
| F. | CLIENT understands that MortgageProcessor.com employs trained sub-contract processors that have a contract relationship with MortgageProcessor.com. CLIENT agrees to not solicit, or hire, any subcontract processor away from MortgageProcessor.com. CLIENT agrees to pay MortgageProcessor.com a referral fee of $20,000 if they hire, or solicit any subcontract processor away from MortgageProcessor.com, and pay any attorney and court costs if required to collect such referral fee from CLIENT. |
| G. | CLIENT understands that they are responsible for choosing a lender for each file, locking their borrowers rate with that lender, and for collecting items missing from the borrowers file that have not been sent to the processor. CLIENT shall deliver a fully completed application and all supporting documents collected from the borrower, with a cover sheet outlining the title company, appraiser, lender, and notes to their processor with each file. |
| H. | CLIENT authorizes MortgageProcessor.com, and it's affiliated subcontract processors, to complete paperwork on it's behalf. Subcontractor shall obtain on CLIENT's behalf; appraisal, title work, surveys and other documents in order to process and close files. CLIENT understands and agrees that our subcontractors are not ordering documents, but rather working on behalf of CLIENT, and as such MortgageProcessor.com and it's subcontractors will have no liability for unpaid bills appraisals, survey, title company fees, or any other fees associated with processing files for CLIENT. CLIENT agrees to be responsible for all fees incurred in connection with the processing of CLIENT's files. |
| I. | Signature and return of this agreement by fax or US Mail allows you to begin immediately submitting files for processing. |
By
signing above, you certify that you are authorized to sign for your company.
|
Print
Name: |
Loren
A. Parker |
|
Address: |
9251 S. Sand Hill Trail |
|
State/Zip: |
Highlands Ranch, CO 80126 |
|
Phone
& Fax#: |
303-972-3255(phone)
/
(303) 904-3246(fax) |
|
Company
Name: |
MortgageProcessor.com. |
|
Please fax a copy of this agreement to
(303) 904-3246
on "high or
fine" resolution, and
then mail the original, plus your new files, to us at MortgageProcessor.com,
9251 S. Sand Hill Trail, Highlands Ranch, CO 80126. Attn: Loren Parker
Please fill out the attached addendum found below. |
|
This Form is to authorize the title company / settlement
company to cut a separate
check for processing to MortgageProcessor.com out of closing proceeds.
I_________________ authorized agent for
___________________ direct the title company
(Your Name) (Your
Company Name)
and /or funding agent to cut a separate check out of our broker proceeds
directly to MortgageProcessor.com for processing of any loans including FHA/VA loans, or where a
processing fee is not allowed to be listed on a settlement statement. I am
an authorized agent for this company and have dated this agreement and signed below to provide this
authorization.
This document will be accompanied by an invoice from MortgageProcessor.com with instructions outlining the address to send it's check for processing, and courier/copy fees (if indicated). Title/Settlement companies please note that this form takes precedence over other closing instructions and checks for processing made out to any entity other than MortgageProcessor.com must be voided and re-cut.
This legal document authorizes the title company, or escrow agent, to release funds in the form of a check directly to MortgageProcessor.com for the processing services rendered, overnight service charges, Courier fees, and Copy expenses. Should you have any questions regarding this document or this procedure please call 866-418-3472 prior to closing for clarification.
Photocopied signatures are to be treated as original as agreed by the signing of this document by an authorized agent of the broker company or bank.
_____________________________
Signature
_____________________________
Print Name
_____________________________
Dated
_________________________________________________________
_________________________________________________________
Lender company name, Tel, and address