Sample Loan Referral Agreement | Get the Best Mortgage Loans

Are you in the mortgage or loan industry and looking for a Loan Referral Agreement Sample? Look no further! At BizzLibrary.com, we offer a comprehensive Loan Referral Agreement Sample that can help facilitate your loan referral partnerships. This agreement is essential to establish clear terms and conditions between the parties involved and protect everyone's interests.

What is a Loan Referral Agreement?

A Loan Referral Agreement is a legally binding contract that outlines the terms and conditions of a referral program between a loan originator or lender (referred to as "BHF") and the referring party (referee), who helps in identifying and bringing potential borrowers. This agreement sets forth the responsibilities, compensation terms, and other important provisions regarding loan referrals.

Key Clauses of a Loan Referral Agreement:

To ensure a successful and mutually beneficial loan referral partnership, a Loan Referral Agreement typically includes the following key clauses:

1. Agreement Purpose and Background: This section describes the context and purpose of the agreement, highlighting the intention of establishing a referral program for mortgage loans.
2. Referral Obligations: The agreement specifies the responsibilities and obligations of the referrer, such as identifying potential borrowers, providing necessary documentation, and cooperating in the loan application process.
3. Compensation and Payment Terms: The agreement outlines the compensation structure for successful loan referrals, including referral fees, commission percentages, or other mutually agreed-upon arrangements. It also covers the timing and method of payment.
4. Loan Origination and Approval: This clause clarifies that the ultimate decision regarding loan origination and approval rests with the loan originator. It typically outlines the criteria, documentation, and underwriting processes involved.
5. Confidentiality and Data Protection: To protect sensitive borrower information, this clause establishes the parties' commitment to confidentiality and compliance with applicable data protection laws.
6. Termination and Withdrawal: It's important to define the conditions under which either party can terminate or withdraw from the agreement. This section may include notice periods, reasons for termination, and potential consequences.

Download the Loan Referral Agreement Sample in PDF Format

Ready to establish a professional and transparent loan referral program? Visit BizzLibrary.com today to download our Loan Referral Agreement Sample in PDF format. It's an excellent starting point to create your own customized agreement, tailored to your specific business needs.

Take advantage of our extensive collection of document templates, including legal agreements, contracts, and more. Don't miss out on this opportunity to streamline your loan referral process and protect your interests. Start your download now!