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Mortgage Broker Contract
"Need a Mortgage Broker Contract for my Singapore-based brokerage firm that handles both private and HDB properties, with specific clauses about online services and digital documentation requirements, to be implemented from January 2025."
1. Parties: Identifies the mortgage broker and client, including full legal names and addresses
2. Background: Explains the context of the agreement and the broker's licensing status under Singapore law
3. Definitions: Defines key terms used throughout the agreement, including regulatory terms under Singapore financial services law
4. Scope of Services: Details the specific mortgage broking services to be provided under MAS guidelines
5. Broker's Obligations: Lists statutory and contractual obligations of the broker under Singapore law
6. Client's Obligations: Specifies client responsibilities and information provision requirements
7. Fees and Commission: Details the fee structure and commission arrangements
8. Confidentiality: PDPA compliance and confidentiality obligations
9. Term and Termination: Duration of agreement and termination provisions
1. Exclusivity: Optional provisions for when the broker is to be the exclusive representative for high-value transactions or long-term relationships
2. Special Market Conditions: Optional provisions for specific market circumstances or during periods of market volatility or special regulatory conditions
3. Additional Services: Optional section detailing supplementary services offered beyond basic mortgage broking
1. Fee Schedule: Detailed breakdown of all fees and commission structures
2. Service Level Agreement: Specific performance metrics and service standards
3. Regulatory Disclosures: Required MAS disclosures and regulatory statements
4. Broker's Credentials: Copies of licenses, certifications, and professional qualifications
5. Documentation Requirements: List of required documents from client for mortgage applications
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