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Mortgage Broker Compensation Addendum This Mortgage Broker Compensation Addendum (Addendum) is entered into on, 20, (Effective Date) by and between (Broker) and Mortgage Solutions of Colorado, a limited

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How to fill out mortgage broker compensation addendum

01

Start by obtaining a copy of the mortgage broker compensation addendum form from your mortgage broker or lender.

02

Carefully review the form to understand the information it requires.

03

Begin by entering your personal information, such as your name, address, and contact details.

04

Provide details about the mortgage broker, including their name, contact information, and license number.

05

Specify the loan transaction details, such as the loan amount, interest rate, and loan type.

06

Clearly state the compensation terms, including how the broker will be paid and any additional fees.

07

Include any specific terms or conditions related to the compensation agreement.

08

Once you have completed filling out the form, review it carefully to ensure accuracy.

09

Sign and date the form, indicating your agreement to the terms and conditions.

10

Make a copy of the completed form for your records and provide the original to your mortgage broker or lender.

Who needs mortgage broker compensation addendum?

01

Any individual or organization who is working with a mortgage broker to obtain a mortgage loan may need a mortgage broker compensation addendum.

02

This includes homebuyers, property investors, and individuals refinancing their existing mortgage loans.

03

The addendum ensures transparency and clarifies the compensation terms between the borrower and the mortgage broker.

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