Terms & Processing Fee Disclaimer
By submitting this loan file for processing, the undersigned Loan Originator and/or the Mortgage Brokerage Company employing the Loan Originator (“Client”) acknowledges and agrees to the following:
At intake, the Loan Originator selects one of the following processing flows for this file:
- Full-Service Flow — CTC Pro Mortgage Processing LLC registers and submits the loan file.
- Approval-Forward Flow — Loan Originator submits and registers the loan file; CTC Pro Mortgage Processing LLC takes over processing from Approval forward. (“Approval” means post-conditional approval.)
Processing services are provided on a per-file basis regardless of loan outcome, under the following fee terms:
- No Charge: If the loan file is cancelled or the loan does not close prior to the appraisal being ordered and cleared, no processing fee is owed.
- Appraisal Clears At/Over Value: If the appraisal has been received and comes in at or over value and clears (all appraisal-related conditions satisfied), and the loan subsequently does not close for any reason — including but not limited to borrower withdrawal, credit denial, underwriting denial, change in loan terms, or borrower’s decision to proceed with a different lender or broker — Client agrees to pay 75% of the total processing fee specified in the applicable fee schedule. This applies regardless of which flow was selected.
Appraisal Comes In Under Value:
- If the Full-Service Flow was selected and the appraisal subsequently comes in low or under value causing the file to be cancelled, Client agrees to pay 50% of the total processing fee specified in the applicable fee schedule.
- If the Approval-Forward Flow was selected and the appraisal subsequently comes in low or under value causing the file to be cancelled, no processing fee is owed.
This fee is due and payable upon notice of file cancellation or non-closing and is separate from, and not contingent upon, any fees paid by the borrower. Client understands this fee reflects work already performed by CTC Pro Mortgage Processing LLC up to the point of cancellation, including but not limited to file setup, document collection, verification, and appraisal coordination.
By selecting a flow, signing below, or submitting this file, Client acknowledges they have read, understand, and agree to this processing fee obligation.
