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ADDENDUM TO BROKER/CORRESPONDENT AGREEMENT Compensation Agreement Broker/Correspondent: Tax ID# Address Date Executed: Effective Date: This agreement is effective for all nonFHA applications dated

How to fill out addendum to brokercorrespondent agreement

How to fill out an addendum to brokercorrespondent agreement:

1. Begin by reviewing the existing brokercorrespondent agreement. Familiarize yourself with the terms and conditions outlined in the original agreement.
2. Identify the specific changes or additions that need to be made in the addendum. Make sure to clearly articulate the purpose of the addendum and the specific modifications being proposed.
3. Start the addendum by providing a heading that reads "Addendum to Brokercorrespondent Agreement" or something similar. This will help differentiate the addendum from the original agreement.
4. Write a brief introduction that explains the reason for the addendum. This could include changes in business operations, new terms or conditions, or any other relevant information.
5. List the specific sections or clauses from the original agreement that are being modified. Clearly state what changes are being made to each section and provide the revised wording or additional information.
6. If needed, include any attachments or exhibits that support the changes being made. These could be documents, contracts, or any other relevant materials.
7. Include a section for signatures and dates at the end of the addendum. Both parties involved in the original agreement should sign and date the addendum to indicate their agreement with the proposed changes.
8. Make copies of the signed addendum for all parties involved. Keep one copy for your records and distribute the others as necessary.

Who needs an addendum to brokercorrespondent agreement:

The need for an addendum to a brokercorrespondent agreement can arise in various situations. Here are a few examples:

1. Changes in business operations: If there are significant changes in your business operations or the scope of your partnership with the broker, an addendum may be necessary to update the agreement accordingly.
2. Modifications to terms and conditions: If there are specific terms or conditions in the original agreement that need to be modified or clarified, an addendum can be used to make those changes.
3. Additional requirements or obligations: If new requirements or obligations arise for either party after the original agreement is signed, an addendum can be used to address these additions without having to create an entirely new agreement.
4. Resolving disputes or misunderstandings: In case of disputes or misunderstandings between the broker and the correspondent, an addendum can be used to propose resolutions or clarify any points of confusion.

Remember, it is always important to consult with legal professionals or experts in your industry when drafting or filling out an addendum to ensure compliance with applicable laws and regulations.

For pdfFiller’s FAQs

What is addendum to brokercorrespondent agreement?

An addendum to a brokercorrespondent agreement is a supplementary document that is added to the original agreement to make additional terms, clauses, or changes.

Who is required to file addendum to brokercorrespondent agreement?

Both parties involved in the brokercorrespondent agreement are required to file the addendum to the agreement.

How to fill out addendum to brokercorrespondent agreement?

The addendum to a brokercorrespondent agreement can be filled out by specifying the additional terms or changes that need to be made, and both parties must sign the document.

What is the purpose of addendum to brokercorrespondent agreement?

The purpose of an addendum to a brokercorrespondent agreement is to modify or add new terms to the original agreement without having to create a completely new agreement.

What information must be reported on addendum to brokercorrespondent agreement?

The addendum to a brokercorrespondent agreement must include details of the changes or additional terms being made, along with the date and signatures of both parties.

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