According to 5 Del. Code § 2113, a licensee can only receive a fee for acting as a mortgage broker pursuant to a written agreement between the mortgage loan broker and borrower. This written agreement must specify to the amount and terms that the mortgage loan broker is to receive. First American Docutech uses its Cx3583 (DE Broker Agreement) to comply with this requirement. FA Docutech is making updates to Cx3583 to utilize both fields from HUD-1 itemized fee lines for Non-TRID loans, and the TRID LE/CD fee lines for TRID loans, for the Broker Compensation and other fees area. Fees marked as paid to broker (corresponding with “Fee Section [x] Slot [y] Paid To Type” indicator set to ‘Broker’) will print in the Broker Compensation area. The rest of the fees will print in the “Other Fees” area.
This change will be in effect on October 20, 2021. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.