This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
South Carolina Agreement between Mortgage Brokers to Find Acceptable Lender for Client
State:
Multi-State
Control #:
US-01780BG
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Agreement Between Mortgage Brokers To Find Acceptable Lender For Client?
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FAQ
Licensure: Each mortgage broker must be licensed to engage in the business of making mortgage loans for compensation or gain or to act, for compensation or gain, or in the expectation of compensation or gain, either directly or indirectly, by accepting or offering to accept an application for a mortgage loan, ...
SECTION 37-22-120. Licensing requirements. (2) circulate or use advertising, including electronic means, make a representation or give information to a person which indicates or reasonably implies activity within the scope of this chapter.
No mortgage or deed having the effect of a mortgage or other lien shall constitute a lien upon any real estate after the lapse of twenty years from the date for the maturity of the lien.
Application for licensure; information required; identification of managing principal; filing fee; surety bond; issuance of license. (iii) as to which the applicant is the current or proposed managing principal or a current or proposed branch manager.
In a criminal case, a person may be fined up to ten thousand ($10,000.00) dollars and imprisoned for up to one year. In a private lawsuit, a person may be liable to the person charged for the settlement services in an amount equal to three times the amount of the charge paid for the service.
Section 37-22-210 - Commissioner's records; segregated escrow funds; licensee ceasing business activities. (A) The commissioner shall keep a list of all applicants for licensure pursuant to this chapter which includes the date of application, name, and place of residence and whether the license was granted or refused.
A mortgage broker is a third party who will act on your behalf to arrange your home loan application. Instead of working directly with a bank or financial institution, a mortgage broker can work with various lenders to find the right home loan for you.