Loan Originator Processing Services Agreement

1. Services

   Local Processing will provide third-party loan processing and related operational support for loan files submitted by the Loan Originator, including rate-lock related services and the preparation and transmission of loan disclosures. Local Processing does not originate loans or make credit decisions.

2. Authorization

   By signing this Agreement, the Loan Originator authorizes Local Processing to perform these services on the Loan Originator’s behalf (including requesting, extending, and relocking rates, and preparing and transmitting disclosures) using the pricing, lender, product, lock period, loan terms, fees, charges, credits, compensation, settlement information, and other data and instructions provided, approved, or made available by the Loan Originator or other authorized parties. This includes access to the LOS, lender portals, and other approved systems reasonably needed to process the Loan Originator’s files. Local Processing may rely on that information and those instructions.

3. Processing Fee and Payment

   The processing fee is:

   HELOCs, FHA Streamlines, and IRRRLs	$795
   All other loans	$1,395

   The fee may be paid by the borrower, the Loan Originator, or the sponsoring broker, or split between them when permitted.

   If Local Processing does not receive the processing fee for any reason, the Loan Originator is personally responsible for the unpaid balance.

   Any invoice issued to the Loan Originator is due within three (3) business days.

4. Loan Originator Responsibility

   The Loan Originator owns the loan and provides or approves the information used to process it (loan terms, fees, pricing, lender and product selection, disclosures, lock instructions, licensing, and approvals) and is responsible for its accuracy and completeness. Pricing, lock, and disclosure decisions are the Loan Originator’s, and the Loan Originator reviews and approves disclosure information where required.

5. Risk and Responsibility

   Local Processing makes no guarantee regarding pricing, rate availability, lock execution, lender acceptance, disclosure accuracy, profitability, compensation, or that a loan will close or fund. Those outcomes rest on the Loan Originator’s instructions and on third parties outside Local Processing’s control. The Loan Originator therefore carries the financial responsibility for the loan and the services (including pricing and lock costs, extension and relock costs, tolerance and fee cures, borrower credits, redisclosure costs, and lost or reduced compensation), regardless of who supplied the information or instruction involved. To the fullest extent permitted by law, the Loan Originator agrees to release, indemnify, defend, and hold harmless Local Processing LLC and its owners, officers, employees, contractors, and agents from related claims, losses, costs, and liabilities, except where liability cannot lawfully be waived.

6. Confidentiality

   Both parties will protect borrower information and credentials.

7. Term

   Either party may end this Agreement in writing. Ending the Agreement does not eliminate amounts already owed to Local Processing.

8. Non-Solicitation

   During this Agreement and for twelve (12) months after it ends, the Loan Originator will not directly or indirectly solicit a Local Processing employee or contractor with whom the Loan Originator had material contact to leave Local Processing, to the extent permitted by law.

Signed by the parties on the date shown below.