Memorandum of Understanding (MOU)
3.The Memorandum of Understanding (MOU) is the cooperation agreement between the HCA and the referring loan originator to provide noted services to client and that the HCA will keep the lender/loan originator informed via email or fax of the client's progress. HCA will not quote interest rates or pricing to the client. The loan originator will provide information to the HCA about loan products and underwriting guidelines to assist the HCA in explaining such products to the client. Form requires who will be paying for the Credit Counseling/Financial Education Counseling: the client or the loan originator. HCA will stay in touch with client in pursuit of preparing for mortgage.The loan originator represents that the crediting of an upfront fee paid by client at the clients mortgage closing shall not result in higher rates, points, or closing costs for the client.