Va Mortgage Broker Agreement
7. All other conditions of the locking agreement required by the mortgage lender or mortgage broker acting on behalf of a mortgage lender. 2. identification of the property intended to insure the mortgage (this does not require a formal legal description); B. No mortgage broker who is to be licensed under this chapter can: D. Where an applicant has paid a blocking fee and the loan is not closed because the blackout period was not a reasonable period given the market conditions in place at the time of the closing agreement, that blocking fee is refunded. 6. In the exercise of the broker`s obligation, which is created here, to make reasonable efforts to insure a mortgage that is in the best interests of the applicant, taking into account the circumstances and characteristics of the applicant`s loan, including, but not only on the type of product, rates, fees and terms of repayment of the loan It is not given. C. When an applicant has paid a commitment fee and the mortgage is not taken out because of any of the following, this commitment tax is repaid: 4.
The interest rate and points for the mortgage, if the contract of commitment is also a lock-up agreement or a declaration that the mortgage is made at the mortgage lender`s current interest rate and points for those loans three days before closing; 6. a declaration that all conditions not bound by the blocking agreement may be amended up to three days before the count; and E. A mortgage broker cannot grant a lock-up agreement to a consumer, unless the mortgage broker has effectively suspended the mortgage, including the applicable interest rate, points and other conditions, with a mortgage lender. A mortgage broker must keep the mortgage lender`s debts for at least three years from the expiry date of the mortgage lender`s lock-in. A. When a commitment is issued and accepted, the commitment agreement is signed by the applicant and by a person authorized to sign it on behalf of a mortgage lender, and includes: 2. The mortgage is refused because of the applicant`s default; or B. Does a consumer have a locking agreement by a mortgage lender or mortgage broker, which acts on behalf of the mortgage lender, is signed by a representative of the mortgage lender or mortgage broker and contains: 9. A statement that, if the lender is not entered into within the commitment period, the mortgage lender is no longer bound by the contract of commitment and that the liability costs paid by the applicant are only set out in the circumstances.
Subsection C and other circumstances set out in the commitment agreement; and one.