United Wholesale Mortgages – Fill Out and Use This PDF

555 SOUTH ADAMS ROAD, BIRMINGHAM, MI 48009

ACCOUNT EXECUTIVE NAME:

APPLICATION SUBMISSION CHECKLIST

Complete and sign your Broker Application and Agreement. Review the Application Submission Checklist below. For each item that applies to your business, please provide the documentation or information requested. A complete application and supporting documentation will assure a faster approval. For questions, please contact your UWM Account Executive at (800) 981-8898.

Broker application – complete all pages and be sure to sign the Lender References page. Only competed sections will be processed.

Broker agreement – fully executed and dated. Any changes to the agreement will not be accepted. Remember to initial pages 1-13 and sign page 14.

Broker documents – with your application and agreement, please complete the Authorization Release form, and one of the Resolution documents.

Errors & omissions and fidelity bond insurance – if you have a current E&O policy or a fidelity bond in effect, please provide a copy of the policy or declaration page.

Resumes for owners, principals and key employees - please provide a resume for each principal owner, majority stockholder (persons with 10% or more of the corporate stock issued) and key staff members whose experience and knowledge is relied upon to run daily operations of your loan brokerage business.

W-9 request for Taxpayer ID number – complete a W-9 with all required information.

www.irs.gov/pub/irs-pdf/fw9.pdf

Current financial statements – include copies of your most recent financial statements covering a two year period, certified by a Principal or Chief Financial Officer.

Quality control plan – a copy of your company’s quality control plan.

Articles of incorporation/organization or operating agreement – include copies of your current articles of incorporation, organization or operating agreement. If doing business using a dba, trade name or fictitious name, please provide the filings. Names must match the application and license(s)/NMLS.

Professional licenses – if your state license is not required to be on NMLS yet, please provide it.

Contact List – all employees and/or sales contact for corporate as well as any branch offices

Complete the included FHA Sponsorship form

Complete the included Lender Paid Compensation Agreement

Where to send completed package – Send your completed package to: United Wholesale Mortgage, 555 South Adams Road, Birmingham, MI 48009, ATTENTION TO YOUR UWM ACCOUNT EXECUTIVE

555 SOUTH ADAMS ROAD, BIRMINGHAM, MI 48009

PRINCIPALS

Residence Address:

ORIGINATION AND PROCESSING METHOD (CHECK ONE)

TECHNOLOGY RESOURCES

What processing software do you use (include name and version)?

Do you currently use Fannie Mae’s Desktop Underwriter to approve Loans?

Do you currently use Freddie Mac’s Loan Prospector?

BRANCH OFFICES (IF ADDITIONAL BRANCHES, PLEASE USE ADDITIONAL PAGE)

What states are you currently licensed to do business in?

LIST ALL BRANCHES IN EVERY STATE YOU ARE CURRENTLY LICENSED IN

CONTACT INFORMATION

WIRE TRANSFER INFORMATION

WIRE TO BANK NAME

ADDRESS, CITY, STATE, ZIP

ABA NUMBER

ACCOUNT NUMBER

ACCOUNT NAME:

CONTACT NAME

PHONE NUMBER

555 SOUTH ADAMS ROAD, BIRMINGHAM, MI 48009

LENDER REFERENCES

AFFILIATED COMPANIES

DISCLOSURES/DUE DILIGENCE

X

WHOLESALE BROKER AGREEMENT

THIS WHOLESALE BROKER AGREEMENT (“Agreement”) is made and entered into as of ,20 _ , between United Wholesale Mortgage (“UWM”), with its office located at 555

S. Adams Road, Birmingham, Michigan 48009, and

WHEREAS, UWM is engaged in the business of, among other activities, purchasing and/or funding mortgage loans on residential real estate and reselling such loans in the secondary mortgage market; and

WHEREAS, Broker is engaged in the business of taking applications for residential mortgage loans; assisting borrowers in pre-qualifying for mortgage loans; selecting a mortgage product and completing an application; and processing those applications on behalf of others in exchange for a fee or other consideration; and

WHEREAS, during the term of this Agreement, UWM will advise Broker of UWM’s various FHA, VA, and/or conventional mortgage loan products as well as select bond program mortgage loan products, and Broker intends, from time to time, to offer to UWM for potential purchase and/or funding certain FHA, VA, and/or conventional mortgage loans as well as select bond program mortgage loans which fall within the parameters of UWM’s mortgage loan products;

NOW, THEREFORE, in consideration of the mutual agreements and covenants hereinafter set forth, and other good and valuable consideration, the receipt and legal sufficiency of which is hereby severally acknowledged, UWM and Broker hereby agree as follows:

ARTICLE I

DEFINITIONS

All words and phrases defined in this Article I (except as herein otherwise expressly provided or unless the context otherwise requires) shall, for the purposes of this Agreement, have the following respective meanings:

1.01.“Agreement” means this Wholesale Lending Agreement and any written amendments or modifications hereto which have been signed by duly authorized representatives of both UWM and Broker.

1.02.“Bond Authority” means a federal, state or local authority established for the purpose of making residential Mortgage Loans to low and moderate income borrowers and issuing bonds or other obligations to fund such loans.

1.03.“Bond Program” means a qualified single family residential Mortgage Loan program of a local, state or federal housing authority under which residential Mortgage Loans are made available to low and moderate income borrowers at below market interest rates and/or upon other terms and conditions favorable to the borrowers.

1.04.“Borrower” means the person or persons who submit a Mortgage Loan Application to Broker, receive a Mortgage Loan, and are liable on a Mortgage Note to UWM.

1.05.“Closing” means the funding of a Mortgage Loan by Lender

1.06.“Defect”means a breach in any respect of any representation or warranty herein contained with respect to a Mortgage Loan or any failure by Broker to comply with any covenant or condition herein contained with respect to a Mortgage Loan which could reasonably be expected to result in a loss or damage to UWM or a subsequent purchaser of such Mortgage Loan.

1.07.“Defective Loan”means any Mortgage Loan that has a Defect.

1.08.“FHA” means the Federal Housing Administration.

1.09.“FHLMC”means the Federal Home Loan Mortgage Corporation.

1.10.“FIRREA”means the Financial Institutions Reform, Recovery and Enforcement Act of 1989.

1.11.“FNMA”means the Federal National Mortgage Association or any successor thereto.

1.12.“GNMA”means the Government National Mortgage Association or any successor thereto.

1.13.“Mortgage”means a valid and enforceable Mortgage, Deed of Trust, or other Security Instrument creating a first or second lien upon described real property improved by a one-to-four family residential dwelling, which secures a Mortgage Note.

1.14.“Mortgage Documents” means all documents and instruments required by UWM and applicable law pertaining to a particular Mortgage Loan.

1.15.“Mortgage Loan”means a loan to individuals which is secured by a Mortgage and is subject to this Agreement.

1.16.“Mortgage Loans”means each and every Mortgage Loan, which is subject to this Agreement.

1.17.“Mortgage Loan Application” or ”Mortgage Loan Applications” means an application for a Mortgage Loan processed by Broker in accordance with the lending requirements of UWM, the terms of this Agreement, all applicable governmental regulations, and the generally accepted practices and procedures within the mortgage industry.

1.18.“Mortgage Note”means a written promise to pay a sum of money at a stated interest rate during a specified term that is secured by a Mortgage.

1.19.“Repurchase”means the obligation of the Broker to purchase a Mortgage Loan from UWM which was previously sold to UWM by the Broker.

1.20.“RESPA”means the Real Estate Settlement Procedures Act of 1974 (12 U.S.C. 2601, et seq.), as amended from time to time.

1.21.“Servicing Rights”or ”Servicing”means the rights, title, and interest in and to the servicing of the Mortgage Loans and the maintenance and servicing of the escrow accounts, along with the right to receive the servicing fee income and any and all ancillary income arising from or connected with all such Mortgage Loans.

1.22.“Underwrite” or “Underwriting” means the examination of a Borrower’s application, credit history, income and financial resources for the purpose of determining whether to extend credit to such Borrower.

1.23.“VA” means the Veterans Administration.

ARTICLE II

PURCHASE & FUNDING OF LOANS

2.01.Purchase and/or Funding of Loans by UWM. UWM agrees to purchase and/or fund certain Mortgage Loans from Broker, provided that all of the following requirements are met:

(a)Upon payment by UWM of the purchase price for each such Mortgage Loan so purchased and/or funded, all rights, title and interest in and to said Mortgage Loan shall be assigned and transferred by the Broker to UWM free and clear of all claims, liens and encumbrances whatsoever.

(b)Each Mortgage Loan shall be sold to UWM on a “servicing released” basis meaning that Broker shall release, transfer, convey and assign in a form and manner acceptable to UWM, all of Broker’s rights, title and interest in and to the Mortgage Loan, including, without limitation, the right to provide mortgage servicing in connection therewith.

(c)All FHA, VA, conventional and select Bond Program Mortgage Loans shall be closed in the name of UWM, unless another name is specifically authorized by UWM in writing in advance of closing; and

(d)All such Mortgage Loans shall meet UWM’s lending requirements and any other terms and conditions required by UWM, in its sole and absolute discretion, which may be amended from time to time.

2.02.UWM Loan Requirements. UWM will advise Broker from time to time regarding the types of FHA, VA and conventional Mortgage Loan products it is interested in considering purchasing and/or funding (individually a “Mortgage Loan Product” and collectively the “Mortgage Loan Products”), including, without limitation, information concerning interest rates, loan limits, loan-to-value, ratios, points, fees and underwriting requirements. Any commitment from UWM to Broker to purchase and/or fund any Mortgage Loan or Mortgage Loans or Mortgage Loan Applications will be issued in accordance with UWM’s current lending policies and shall be in UWM’s sole and absolute discretion. Such commitment must be in writing and be signed by an authorized employee of UWM and the terms of such commitment will be applicable only to the Mortgage Loan or Mortgage Loans specified therein. UWM may, in its sole and absolute discretion, cancel or discontinue any commitments, with or without notice to the Broker. UWM will attempt to give advance notice of such changes but shall have no obligation to do so. Broker agrees to follow all practices and procedures required by UWM, as modified from time to time.

2.03.Pricing of Loans; Lock-in Rates.

(a)UWM will provide price protection for the Mortgage Loans which it agrees to purchase and/or fund hereunder in the form of a written lock-in confirmation pursuant to its lock-in policies and in accordance with UWM’s lending requirements. The time at which the interest rate for a Mortgage Loan is locked in shall be at Broker’s option, provided, however, a Mortgage Loan with a locked in interest rate must be presented to UWM for purchase and/or funding before the expiration of the lock-in period. For purposes of the Agreement, the “lock-in period” shall be determined in accordance with UWM’s lending requirements. If a Mortgage Loan is not presented for funding by UWM within the lock-in period, such Loan may be re-priced at the sole option of UWM. The transfer or sale by Broker of a Mortgage Loan locked in by UWM during the lock-in period to another entity, shall constitute a violation of the Agreement, and the Broker shall be liable, and promptly indemnify UWM, for any loss sustained as a result thereof by UWM. In addition, Broker shall notify UWM immediately should any commitment by UWM for a locked-in Mortgage Loan be canceled, withdrawn, or otherwise determined not to be set for purchase and/or funding by UWM.

(b)Broker will deliver the underwriting package to UWM not later than ten (10) calendar days prior to the expiration of the lock-in period.

2.04Broker’s Fees. Subject to all other provisions of this agreement, including Section 6.18, broker’s

fee shall be payable by UWM when a Mortgage Loan is closed and funded by UWM and Broker has: (a) obtained in writing from UWM a firm commitment for UW M’s interest rate, discount rate and ancillary fees; (b) successfully negotiated with the borrower(s) any fees in excess of UWM’s

fees for the Mortgage Loan; and (c) negotiated a spread premium fee from UWM for the Mortgage Loan, if applicable. UWM’s pricing is published on a daily basis and is often adjusted several times throughout the day. All pricing is subject to change without notice and no Mortgage Loan is price protected until UWM has issued a written lock confirmation. Broker shall not be entitled to any fee if a Mortgage Loan does not fund, regardless of the reason. In the event that any fees

negotiated by Broker exceed those payable under applicable law, UWM may reduce such fees to a level which is in compliance with applicable law, without notice to Broker. Broker’s fees are payable only after UWM has first deducted all of its fees and charges from the loan proceeds.

ARTICLE III

DUTIES, WARRANTIES & REPRESENTATIONS

3.01.Duties of Broker. The Broker shall exercise its best efforts in connection with the performance of the following duties:

(a)Broker shall take Mortgage Loan Applications in accordance with applicable law at its offices in its own name through its employees and agents;

(b)Broker shall comply with all procedures established by UWM from time to time for the submission of Mortgage Loan Applications under the Mortgage Loan Programs made available to Broker;

(c)Broker shall confirm whether each Mortgage Loan Application meets the terms, conditions and requirements established by UWM with respect to the Mortgage Loan Programs;

(d)After securing the requisite authority from the applicant(s), the Broker shall secure financial and credit information from the applicant(s) and analyze the income and indebtedness of the applicant(s) to determine the maximum reasonable Mortgage Loan obligations that the applicant(s) can bear;

(e)Broker shall: (i) educate the applicant(s) in regard to the home buying and financing process;

(ii)advise the applicant(s) about the different Mortgage Loan Programs made available by UWM; and (iii) explain to the applicant(s) how the closing costs and monthly payments would vary under the each of the Mortgage Loan Programs for which the applicant(s) may be eligible;

(f)Broker shall also: (i) verify the employment of the applicant(s); (ii) verify the deposits required;

(iii)initiate requests for mortgage loan verifications and payoffs; (iv) order an appraisal of the property; (v) order the necessary title commitment; (vi) order a mortgage survey of the property; (vii) provide the applicant(s) with all notices and disclosures required by law; and

(viii)assist UWM in obtaining any additional information reasonably required by UWM in order to consider the Mortgage Loan Applications and/or facilitate the closing of all Mortgage Loans;

(g)Broker shall communicate with the applicant(s), real estate agent(s), and UWM in an effort to keep them informed as to the status of the application and/or the Mortgage Loan transaction and any changes in the terms of a Mortgage Loan within a reasonable time, and if UWM and other lenders represented by Broker deny credit to the applicant, Broker will prepare and deliver to the applicant a denial notice meeting all requirements of applicable law;