New York Pre-Application Disclosure And Fee Agreement

3 Confuse this bonus with premium prices.] You may have the right to get a bonus (cash or not) paid by the lender if my loan is placed with a particular lender, and you will notify me if this is the case. BROKER FEE: I understand that you are paid as compensation for your services as verified below: The lender will give you a tax equal to % of the loan amount or . The compensation you receive from the lender for your services is included in the payments, points, fees and terms of the loan, as indicated by the lender in its commitment. Maximum points paid, including the prices of premiums that the lender pays you, must not exceed the fees that the lender pays you, are not known at that time, but are communicated to me at the time of the freeze or when setting the rate. Maximum points paid, including the prices of premiums paid to you by the lender, must not exceed () points. I will give you a tax on the proceeds of the loan of an amount equal to % of the loan amount or . I authorize the lender`s lawyer to withdraw this tax when I close. I will be you immediately after I have signed acceptance of a commitment or to the conclusion of a tax equal to % of the amount of the loan or . MORTGAGE BROKER FEE ACKNOWLEDGEMENT: I recognize that these mortgage brokerage fees will be paid to you. I also recognize that there is no other mortgage fee agreement between us. I understand that I have to pay the following fees upon request: [INSTRUCTION – There can only be one application fee.

If the broker collects a registration fee, the lender cannot charge a deposit fee. The deposit fee may include the loan processing fee.] The property application fee – Property appraisal fee – Credit report fee – Real estate assessment fees and credit reporting fees are estimates of the actual cost of services. If the actual costs exceed the estimate, I understand that I will be charged and that I will pay the deficit at the end or before closing. mbmdlbr.doc 3 5 DESIGNATED LENDERS: I understand that you place credits primarily with three or fewer lenders, as shown below: PRIVATE LENDERS: This loan is placed with a private lender that is not a tax-exempt organization and is not authorized under Section 12-D of the Banking Act. As a result, certain consumer and lender claims required by New York laws and regulations do not apply to the loan. A balloon mortgage placed with a private lender must not last at least three (3) years. FEES DIVISION: The fees you collect will be shared between you and you. You will receive a tax of an amount – or an estimated good faith value of – and they will receive a tax of an amount – or a good faith estimate of an amount of .

[INSTRUCTION – The following declaration must be provided and the pre-notification and royalty agreement must be signed and dated by the applicant.] By signing below, I confirm receipt of a copy of this advance notification of the application and royalties agreement. Candidate Date – Date Interviewer Date Interviewer Name – Title – Don`t sign this form if the spaces remain empty. mbmdlbr.doc 5 2 PRE-APPLICATION DISCLOSURE AND FEE AGREEMENT FOR USE BY NEW YORK REGISTERED MORTGAGE DEALERS NAME Telephone Fax Registered Mortgage Broker NYS Banking Department Loans Arranged with 3rd Party Lenders In the following disclosure, I-applicant; she`s a mortgage broker. You have told me that you are authorized and willing to help me with the funding.

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