FHA Case Overview

FHA CASE OVERVIEW

Recitals

WHEREAS, Client Name: (hereinafter "Lender") is engaged in originating and managing mortgage financing insured by the Federal Housing Administration and requires documentation, oversight, and case management services for an FHA case; and

WHEREAS, Service Provider: (hereinafter "Provider") possesses experience and personnel to provide FHA case analysis, file management, and related services under the terms set forth herein; and

WHEREAS, both parties desire to set forth in writing the scope, payment, confidentiality, term and termination provisions, and governing law applicable to the management of the FHA case identified below.

Scope of Work

Case Details

FHA Case Number:    Loan Number:

Loan Amount: $    Loan Type:

Interest Rate:    Term (years):

Appraisal Date:    Estimated Closing Date:

Assigned Underwriter:    Processor:

Appraisal received    Title/Owner's Title Policy received    Hazard/PMI/Insurance received

Payment Terms

Payment Amount: $    Payment Schedule:

Invoices due within days of receipt. Late fee: per month on outstanding balances.

Term and Termination

Term Start Date:    Term End Date:

Either party may terminate this Agreement for any reason upon written notice delivered at least days prior to the effective termination date. Termination for material breach by either party shall be effective immediately upon thirty (30) days' written notice if such breach remains uncured at the expiration of that period.

Termination for cause (material breach, fraud, or violation of applicable FHA program requirements):

Confidentiality

Provider and Lender each acknowledge that in performance of this Agreement they may receive or have access to non-public information, mortgage loan files, personal identifying information, underwriting findings, appraisal reports, and other trade secrets and confidential materials ("Confidential Information"). Each party shall: (a) maintain Confidential Information in strict confidence; (b) limit disclosure to those employees or subcontractors with a need to know and who are bound by confidentiality obligations no less restrictive than those herein; and (c) not use Confidential Information except as necessary to perform obligations under this Agreement. Confidentiality obligations survive termination for a period of five (5) years or longer as required by applicable law or FHA program rules.

Acknowledgement of Confidentiality:

Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State of without regard to conflict of laws principles. Venue for any dispute arising hereunder shall be in a court of competent jurisdiction located in that state.

Entire Agreement; Miscellaneous

This Agreement, together with any attached exhibits, scopes, and accepted change orders, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior or contemporaneous agreements, representations, and understandings, whether written or oral. No amendment shall be effective unless in writing and signed by authorized representatives of both parties.

If any provision of this Agreement is held invalid or unenforceable, the remaining provisions shall remain in full force and effect. The failure of either party to enforce any right or provision shall not constitute a waiver of such right or provision.

Acknowledgments

The undersigned represent and warrant that they are authorized to execute this Agreement on behalf of the respective parties and that execution of this Agreement will not violate any other agreement or obligation of the signing party.

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