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Mortgage Referral Agreement Between: C. M. B. CANADA MORTGAGE BROKERS INC., a mortgage broker licensed under the laws of Ontario, Canada; (herein referred to as CMB) OF THE FIRST PART; and An individual

How to fill out mortgage referral agreement

1. First, ensure that you have a clear understanding of what a mortgage referral agreement is and why it is needed. It is a contract between a mortgage lender and a referral source, outlining the terms and conditions of the referral arrangement.
2. Start by reviewing the agreement thoroughly, paying attention to all the sections and clauses. Make sure you understand the obligations and responsibilities of both parties involved.
3. Begin filling out the agreement by providing your personal information and contact details as the referral source. This typically includes your name, business name (if applicable), address, phone number, and email.
4. Next, input the information of the mortgage lender or company that you will be referring clients to. This includes their name, address, phone number, and email.
5. Proceed to the section that outlines the referral fees or compensation terms. Specify the amount or percentage of commission you will receive for each successful referral. Include any additional details regarding payment terms and conditions.
6. Depending on the agreement, you may be required to provide information about the clients you will be referring. This includes their names, contact details, and any other relevant information that the mortgage lender needs to identify and track referrals.
7. Carefully review any confidentiality or non-disclosure clauses within the agreement. Understand your obligations regarding the protection of sensitive information that may be shared during the referral process.
8. If there are any additional terms or conditions specific to your arrangement, such as exclusivity or termination clauses, make sure to input those as well.
9. Lastly, read through the entire agreement again to ensure accuracy and completeness. Seek legal advice if needed to ensure that you fully understand the terms and implications of the agreement.

Who needs a mortgage referral agreement?

1. Mortgage lenders or companies who rely on referrals to generate business.
2. Referral sources, such as real estate agents or mortgage brokers, who regularly refer clients to mortgage lenders.
3. Any individual or business entering into a formal referral arrangement where compensation is expected for successful referrals.

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What is mortgage referral agreement?

A mortgage referral agreement is a contract between a mortgage broker and another party, typically a real estate agent or financial institution, where the broker refers clients in exchange for a fee or commission.

Who is required to file mortgage referral agreement?

Mortgage brokers are required to file mortgage referral agreements.

How to fill out mortgage referral agreement?

To fill out a mortgage referral agreement, both parties involved must outline the terms of the referral, including the fee or commission structure, and sign the agreement.

What is the purpose of mortgage referral agreement?

The purpose of a mortgage referral agreement is to establish a partnership between a mortgage broker and another party to refer clients and generate business.

What information must be reported on mortgage referral agreement?

The mortgage referral agreement must include the names of the parties involved, the terms of the referral agreement, the fee or commission structure, and the signatures of both parties.