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Contract for use with Mortgage Brokers?

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rcwessel

Thread Starter
Freshman Member
Joined
Apr 13, 2002
Does anyone have a contract to be used with clients, especially mortgage brokers? I mean something that has been professionally drafted, that contains clauses for the usual - nonpayment, collection activities, etc.

If you care to share it would be greatly appreciated.

Rob
 
Joined
Jan 16, 2002
Good luck on that idea. I tried it years ago, they simply won't agree to it.
Even if they do agree to it, they won't honor it. Instead, I insist that they
fax order with all details needed, including who is responsible for payment
(COD at door, bill lender), and name of person ordering it. This seems to work out ok. If non-payment becomes an issue, then at least I have something in writing to show the court and/or collection agent. You can make up your own order form, keep it simply, and they usually have no problem with this. The ones that do have a problem with it are the people you want to avoid to begin with.

Good luck.

Ranting Joe
 

rtubbs

Junior Member
Joined
Jan 15, 2002
I receive the majority of my orders by fax. Within one days time (usually the same day), I fax back an acknowledgement indicating:

date request was received;
date property will be inspected (if known or tbd);
date appraisal will be provided;
type of appraisal (1004; 2055, etc.)
appraisal fee.

I've never had any problem with this system and have used the documents on occasion to threaten legal action but have never had to.
 

rcwessel

Thread Starter
Freshman Member
Joined
Apr 13, 2002
Thanks for the advice. However, I am looking for contracts that are in use - not opinions or advice. I am looking for an agreement that provides for award of courts costs, fees, damages, etc.

We have used order forms for 22 years. I'm just tired of not being able to sue for attorney's fees ( they have to be in any agreement, you know).

Thanks.
 

Ray Ohler

Sophomore Member
Joined
Jan 15, 2002
"recouping" attorney's fees. So, you may have a contract with, at least a portion of it, unenforceable. Going to be another matter, like someone brought up, getting your typical run-of-the-mill mortgage broker to sign it. Although I don't do that much work for mortgage companies anymore. Most of my work is for attorneys and with a FEW of them I HAD TO SIT IN THEIR OFFICE AND SING "A hundred bottles..."
 
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