California Mortgage Broker Engagement Agreement

California mortgage brokers, sign up clients with this ready-made Mortgage Broker Engagement Agreement.

The borrower retains the broker as its exclusive agent for obtaining mortgage loan approval from a lender.
The broker will obtain a credit report and property appraisal and will prepare the loan application.
The agreement sets out how the broker is to be compensated, based on the rate ⁄ fee combination chosen by the borrower.
The broker agrees that no hidden compensation will be received from the lender or any other source.
The borrower agrees to cooperate and provide the broker with truthful and complete information required for the purpose of the loan application.
The broker stipulates that there is no guarantee or promise that the borrower will obtain a mortgage loan as a result of the broker's efforts.
The parties agree to binding arbitration in the event of a dispute.

This California Mortgage Broker Engagement Agreement is provided in MS Word format, and is fully editable to meet your specific circumstances.