Broker Participation Agreement
This Broker Participation Agreement ("Agreement") is entered into between MortgageNegotiator.ai, operated by Mortgage Negotiator LLC ("MortgageNegotiator," "Platform," "we," or "us"), and the undersigned licensed mortgage broker or loan officer ("Broker," "you," or "your").
By signing this Agreement, you agree to participate as a Broker on the MortgageNegotiator.ai platform on the terms below. This Agreement supplements and incorporates our Terms of Service, Privacy Policy, and Acceptable Use Policy.
1. Eligibility and Representations
You represent and warrant that:
- You hold an active, valid Florida mortgage broker or loan officer license in good standing.
- Your NMLS registration is active and in good standing.
- You are authorized to originate the loan products you bid on.
- You have no pending or unresolved disciplinary actions with any state or federal regulator.
- You comply with all applicable lending laws, including RESPA, TILA, ECOA, the Fair Housing Act, the SAFE Act, and Florida Chapter 494.
- All information you submit during onboarding is accurate and complete.
You agree to notify us in writing within 5 business days of any change to your licensing status, NMLS registration, disciplinary actions, or eligibility to participate.
2. Platform Use
How You Participate
- You set lending criteria during onboarding (geography, loan size, credit ranges, property types, products).
- We send you anonymized loan profiles matching your criteria.
- You submit blind bids — you cannot see other Brokers' bids while the auction is live.
- If you win an auction, the Buyer's contact information is delivered to you.
- The relationship transitions off the platform; you handle the application, processing, and closing.
What You See and Don't See
| You See | You Do Not See |
|---|---|
| Anonymized loan profiles matching your criteria (loan amount, type, credit range, location, down payment) | Buyer names, contact information, or exact addresses — until you win an auction |
| Your own submitted bids | Other Brokers' bids while the auction is live |
3. Bidding Rules
Bids Are Binding
Every bid you submit is a binding offer for the duration of the auction window (typically 24–48 hours, extending up to 7 days for the Buyer to accept). If a Buyer accepts your bid, you are obligated to:
- Honor the rate and fees you bid, subject only to standard underwriting findings.
- Begin the loan application process within 2 business days.
- Pull the Buyer's credit and proceed with origination in good faith.
- Close the loan at the terms bid, if the Buyer qualifies.
Bid Components
Your bid must include:
- Proposed interest rate (locked for at least 30 days at the time of acceptance)
- Origination fee
- Processing fee
- Underwriting fee
- Discount points (if any) or lender credits
- Estimated total cash to close
You may not introduce surprise fees after acceptance. Standard third-party costs (appraisal, title insurance, recording fees) that are not within your control are exempt.
Bid Withdrawals
Bid withdrawals before auction close are permitted but strongly discouraged and may negatively affect your reputation score on the platform. Bid withdrawals after Buyer acceptance are not permitted except where:
- Standard underwriting reveals material misrepresentation by the Buyer.
- The Buyer's loan profile was materially false.
- Required regulatory or compliance issues prevent origination.
If you must withdraw post-acceptance for legitimate reasons, you must notify the Buyer and the Platform within 2 business days, provide documentation of the underwriting issue, and cooperate with any Platform review. Improper bid withdrawal may result in account suspension, termination, and forfeiture of your reputation score.
4. Compensation
Your Compensation
You receive no compensation from MortgageNegotiator for participating, bidding, or winning auctions. You receive your normal compensation from the loans you close, paid by the lender or the Buyer in accordance with your separate agreement with each Buyer. This compensation must comply with all applicable laws (RESPA Section 8, Loan Originator Compensation Rule, etc.).
Platform Fees
Brokers pay no fees to MortgageNegotiator. The Platform is funded by Buyer fees.
No Referral Fees
MortgageNegotiator does not pay referral fees to anyone and does not accept referral fees from anyone, in compliance with RESPA.
5. Conduct on the Platform
What You Must Do
- Submit bids honestly and intend to honor them.
- Originate loans you win in good faith.
- Communicate professionally with Buyers.
- Maintain accurate, current information in your Broker profile.
- Promptly notify us of any complaints or issues.
What You Must Not Do
- Identify or contact Buyers before winning their auction.
- Contact Buyers whose bids you did not win, ever.
- Use information about Buyers for any purpose other than the loan you won.
- Add Buyers to marketing lists without their separate, explicit consent.
- Coordinate with other Brokers to manipulate bidding.
- Disparage other Brokers, Buyers, or the Platform publicly or privately.
- Engage in any discriminatory conduct in lending decisions.
Non-Discrimination
You agree to fully comply with all anti-discrimination laws, including the Fair Housing Act, ECOA, and Florida fair lending statutes. You may not discriminate against Buyers on the basis of race, color, religion, national origin, sex, marital status, age, source of income, disability, familial status, or any other protected characteristic.
6. Reputation, Reviews, and Performance
We may track and publish your win rate, post-acceptance close rate, bid withdrawal rate, Buyer reviews and ratings, and aggregate statistics about your participation. You acknowledge that this information may be visible to Buyers reviewing bids and to other users of the Platform.
If a Buyer review contains factually inaccurate information, you may request a review by emailing support@mortgagenegotiator.ai.
7. Information and Confidentiality
You agree to keep confidential any non-public information you learn through Platform participation, to use Buyer information only for the purpose of the loan you won, to comply with all applicable privacy laws (GLBA, state privacy laws), and to maintain appropriate safeguards for Buyer personal information.
You may not sell, share, or transfer Buyer information to third parties (except as required to originate the loan), use the Platform to harvest information about Buyers or other Brokers, or disclose information about Platform operations, pricing, or other Brokers to competitors.
8. Term and Termination
Term
This Agreement begins on the signature date and continues until terminated by either party.
Termination by You
You may terminate this Agreement at any time by emailing support@mortgagenegotiator.ai. Termination does not relieve you of obligations to Buyers whose auctions you won.
Termination by Us
We may suspend or terminate your participation, immediately and without notice, for:
- Loss of license, NMLS registration, or eligibility
- Material violation of this Agreement, Terms of Service, or Acceptable Use Policy
- Pattern of bid withdrawals, complaints, or poor performance
- Fraud, sabotage, or harmful conduct
- Legal or regulatory requirements
Effect of Termination
Upon termination, your access to the Platform ends immediately, pending auctions you bid on may be canceled or reassigned, your existing obligations to Buyers continue, and confidentiality, indemnification, and dispute resolution clauses survive termination.
9. Indemnification
You agree to indemnify and hold harmless MortgageNegotiator, its officers, employees, and agents from any claims, damages, costs, and expenses (including attorneys' fees) arising from your violation of this Agreement, applicable law, or any third party's rights; your bids, representations, or loan originations; Buyer complaints related to your conduct; or any regulatory action against you.
10. Disclaimers and Limitations
MortgageNegotiator does not guarantee a specific volume of auction profiles, that you will win any particular percentage of auctions, that any auction will result in a closed loan, or that Buyer information is accurate. The Platform is provided "as is" without warranties of any kind.
To the maximum extent permitted by law, MortgageNegotiator's total liability under this Agreement is limited to $500.
11. Governing Law and Disputes
This Agreement is governed by Florida law without regard to conflict-of-laws principles. Disputes will be resolved as set forth in the MortgageNegotiator Terms of Service, including any arbitration provisions.
12. General Provisions
- Entire Agreement: This Agreement, together with the Terms of Service, Privacy Policy, and Acceptable Use Policy, constitutes the entire agreement between you and MortgageNegotiator regarding your participation as a Broker.
- Modification: We may modify this Agreement on 30 days' notice. Your continued participation constitutes acceptance.
- No Assignment: You may not assign this Agreement without our consent.
- Severability: If any provision is found unenforceable, the remainder of the Agreement remains in effect.
- Independent Contractor: You participate as an independent business. Nothing in this Agreement creates an employment, agency, partnership, or joint venture relationship.
13. Signatures
By signing below, you acknowledge that you have read, understood, and agree to be bound by this Agreement.
Broker
MortgageNegotiator.ai — Mortgage Negotiator LLC
Contact
Mortgage Negotiator LLC
6150 Riverwalk Ln, Jupiter, FL 33458
Email: support@mortgagenegotiator.ai