This Upfront Mortgage Broker Agreement for Services (hereinafter “Agreement”) entered into this _____day of ____________, 200___, between _____________________________________________ (hereinafter “Broker”)

and _______________________________________________ (hereinafter “Borrower”).

Borrower and Broker agree:

1. Borrower requires a mortgage loan, and shall employ Broker to arrange that loan (hereinafter "Mortgage Loan").

2. Borrower agrees to pay Broker for arranging the Mortgage Loan (hereinafter “Broker Compensation”).

3. The amount of the Broker Compensation shall be one of the following:

$____________, including the cost of processing the Mortgage Loan, for which Borrower will not be charged separately.

$________________________, and $___________ for processing the Mortgage Loan. $_________________________, which does not include processing.

4. Payment of the Broker Compensation shall only occur if Borrower obtains the Mortgage Loan, as evidenced by disbursement of the Mortgage Loan.

5. The Broker will be the Borrower's representative or agent, and will endeavor to act in the best interests of the Borrower.

6. Any payments the Broker receives from third parties involved in the transaction will be credited to the Borrower, unless such payments have been included in the Broker Compensation.

7. The Broker will use its best efforts to determine the type of Mortgage Loan, features, and lender service that best meets the Borrower's needs, and to find the best wholesale price for the Mortgage Loan.

8. The wholesale prices from which the Broker's selection is made will be disclosed at the Borrower's request.

9. When directed by the Borrower who had met lender lock requirements, the Broker will lock the terms (rate points, and other major features) of the Mortgage Loan. Broker will provide a copy of the written confirmation of the rate lock as soon as it has been received from the lender.

10. On or before the time of the rate lock, Broker shall disclose to Borrower the specific fees that will be paid.

to lender, including the amount of each fee (hereinafter “Lender Fees”). The amount of the Lender Fees that Borrower will pay at closing shall not exceed the amount disclosed by Broker.

11. If Borrower elects to float the rate/points, Broker will provide Borrower the best wholesale price available to Borrower on the day the Mortgage Loan is finally locked.

12. On third party services, such as an appraisal, ordered by Broker but paid for by Borrower, Broker will provide Borrower with the invoice from the service provider at Borrower’s request. Alternatively, Broker may have the payment made directly by the customer to the third party service provider.