(C) All fees collected for services provided as a mortgage broker must be disclosed to the applicant by the mortgage broker in accordance with federal or national law. (3) a detailed description of the services that the mortgage broker or lender is willing to provide to the borrower and an estimate of the fees that the mortgage broker or lender receives for these services, whether paid by the borrower, institutional lender or both; and (B) A person shall not earn, charge or withdraw a mortgage broker or processing fee unless the person meets the requirements of this chapter, is authorized to provide mortgage intermediation services or is exempt from the requirements of this chapter under this chapter. (3) actual costs, including legal fees, related to the application of the borrower`s rights under the agreement. (B) If a mortgage broker or lender does not comply with the provisions of the subsection (A), the borrower may recover a salvage contract from the mortgage broker or credit officer responsible for the counterfeiting: (D) A mortgage brokerage contract must be written and the name, address and telephone number of the mortgage broker`s branch , if any, the account number, the date of the agreement. , the name of the proposed borrower, the signature of the borrower and mortgage broker, the amount of the fee and the nature of the services provided to the borrower. A copy of the contract must be provided to the borrower by the mortgage broker. The arm mortgage agreement may provide for a signed confirmation by the borrower of obtaining a copy of the agreement. When a mortgage broker holds mortgages, the mortgage agreement to be armed must contain a statement telling the applicant that the loan can be co-matched. Within three days of a final decision on the brokerage of a loan, the broker must send the applicant a written notice of coredration, including the name and street and postal address of the co-broker, as well as the broker who must be contacted regarding the advancement of the mortgage broker`s services provided to the applicant. Any broker in a co-brokerage contract must be authorized with the administrator. (C) A mortgage broker or lender charged with the breach cannot be held liable for an infringement in a legal action covered by this section if the mortgage broker or lender in charge of the infringement demonstrates, by being overweight, that the breach was not intentional and is the result of a good faith error, regardless of the maintenance of reasonably appropriate procedures to avoid the error. (2) When acting as agent for the borrower, the borrower owes the borrower a duty of care, honesty and loyalty in the transaction, including the obligation to disclose all essential facts.
If the mortgage broker or lender is authorized to act as an agent for another person, the mortgage fee contract must contain a statement of that fact and the identification of that person; (1) the mortgage broker or lender acts as the borrower`s intermediary to provide intermediation services to the borrower; (2) the fees paid by the borrower to the mortgage borrower or lender for the services provided by the agreement; and (4) a clear and striking presentation of the conditions under which the borrower is required to pay for the services provided under the agreement. (A) Within three business days of receiving a mortgage application, the broker must submit an agreement on mortgage broker fees that will disclose to the borrower the estimated total cost of the mortgage and a breakdown of the costs, if any, under federal or national law.