Florida Mortgage Brokerage Fee Agreement Form (Page 2 of 2) in pdf

Florida Mortgage Broker Disclosures:

Licensee may not make mortgage loans or commitments. Licensee may make a commitment

and may furnish a lock-in of the rate and program on behalf of the lender when the licensee has obtained a written commitment or lock-in

for the loan from the lender on behalf of the borrower for the loan. The commitment must be in the same form and substance as issued by

the lender. Licensee cannot guarantee acceptance into any particular loan program or promise any specific loan terms or conditions. See

page 1, paragraphs 4-5 disclosing third-party fee payment for other settlement service providers (ex. appraisal, credit report and/or courier

fees) and application fee and the terms and conditions for obtaining a refund of such fees, if any). Any amount collected in excess of the

actual cost of any third-party settlement service provider that Licensee has ordered in behalf of borrower shall be credited at closing or

refunded to borrower(s) within 60 days after rejection, withdrawal or closing of your mortgage loan application with Licensee.

Time for Payment and Default:

Unless otherwise agreed between Licensee and Borrower(s), all fees disclosed in Paragraph 3, page 1

of this agreement, shall be due and payable upon licensee obtaining bona fide mortgage loan commitment from lender/Investor, but may be

paid at closing if agreed to by Licensee. If said commitment is secured and title is not found to be good, marketable and insurable by

attorney or Title agency acting in behalf of the licensee or lender, or Borrower(s) refuse to execute and deliver the documents required

by lender, or in any way fails to comply with this agreement, or if for any reason the loan referred to herein cannot be closed through no

fault of Licensee, Borrower acknowledges that all fees disclosed in Paragraph 3 that constitutes the total mortgage brokerage fee amount

of this Agreement has been earned by Licensee and agrees to immediately pay Licensee such fees and all costs incurred in Borrower(s)

behalf. : In the event of any litigation arising out of this agreement, Licensee shall be entitled to all costs incurred, including reasonable

attorney fees, whether before, at trial, appeal process should Licensee prevail in such litigation.

You are entering into a contract with a mortgage brokerage business to obtain a bona fide mortgage loan

commitment under the same terms and conditions as stated herein (page 1 of this 2-page agreement) or in a

separate executed good faith estimate form. If the mortgage brokerage business obtains a bona fide commitment

under the same terms and conditions, you will be obligated to pay the mortgage brokerage business fees,

including, but not limited to, a mortgage brokerage fee, even if you choose not to complete the loan transaction.

If the provisions of s. 494.00421, Florida Statutes, are not met, the mortgage brokerage fee can only be earned

upon the funding of the loan. The borrower(s) may contact the Dept. of Financial Services, Tallahassee, Florida,

regarding any complaints the borrower(s) may have against the mortgage broker or mortgage brokerage business.

The telephone number of the Department is 850-410-9805.

In addition, borrowers acknowledge receipt of the following additional disclosures

"Mortgage Loan Origination Agreement" describing relationship between interest rate & terms accepted by

borrower and related lender fees paid to Licensee - if any

ii.

Federal "CHARM booklet" disclosure on Adjustable Rate Mortgages (ARMS) - if applicable.

iii.

Specific ARM rates, terms and conditions of ARM loan terms offered to borrower(s) - if applicable

iv.

HUD settlement booklet

Good Faith Estimate of Settlement charges, dated and signed by borrower(s)

Licensee:

Loan Officer providing this disclosure by Licensee

Innovative Mortgage Services, Inc.

1430 Flores Court

License #:

New Port Richey, FL 34655

(P)727-372-8059, (F)727-489-9504

License #:

Loan Officer:

I/We acknowledge receiving a copy of this signed agreement and disclosures (i-v) referenced above as identified:

Borrower

Date

Co-Borrower

Date

Calyx Form - flmbbc2.frm (09/07)

Page 2 of 2

Florida Mortgage Brokerage Fee Agreement Form Page 2

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