Common use of BROKER COMPENSATION Clause in Contracts

BROKER COMPENSATION. If a Loan Package originated by Xxxxxx, and submitted to Lender, in accordance with this Agreement is approved and closed by Xxxxxx, and the resulting mortgage loan (“Mortgage Loan”) is not rescinded, Lender shall pay Broker a mortgage broker fee in accordance with Exhibit B hereto. Except for third party fees in connection with a Loan Package that may be imposed on the applicant as provided in this Agreement or the Guidelines, Broker is responsible for all costs and expenses associated with the conduct of Broker’s business.

BROKER COMPENSATION. If a Loan Package originated by XxxxxxBroker, and submitted to Lender, in accordance with this Agreement is approved and closed by XxxxxxLender, and the resulting mortgage loan (“Mortgage Loan”) is not rescinded, Lender shall pay Broker a mortgage broker fee in accordance with Exhibit B hereto. Except for third party fees in connection with a Loan Package that may be imposed on the applicant as provided in this Agreement or the Guidelines, Broker is responsible for all costs and expenses associated with the conduct of Broker’s business.