Service Agreement

The purpose of this Agreement is to outline the terms under which Leads2Closings (Fast Reach Media LLC) (“Service Provider”) will provide the Client with trained and pre-vetted Loan Processor Virtual Assistant (“Loan Processor VA”) services.

This service helps streamline loan submissions, reduce administrative workload, and support the Client’s internal loan officers by managing documentation, coordinating with lenders, and ensuring smooth movement from pricer submission to funding.

The Loan Processor Virtual Assistant will carry out tasks including, but not limited to:

1. Loan File Review & Initial Triage

• Review pricer forms and verify completeness.
• Identify missing or unclear information and notify the Client.
• Categorize files as “Pricer Needs Updating” or “Pricer Missing Information” when required.

2. Lender Matching & Submission

• Match loan requests to suitable lenders based on program requirements.
• Submit loan files via lender portals or email using professional formatting.
• Track term sheets, compare offers, and summarize terms for the Client.

3. Loan Officer & Lender Communication

• Communicate with lenders for pricing, conditions, and updates.
• Follow up every 24–48 hours if no response.
• Tag or notify loan officers regarding updates, missing items, or next steps.

4. Document Collection & Quality Verification

• Collect initial documents required by lenders (ID, bank statements, entity docs, etc.).
• Review documents for accuracy and completeness before submission.
• Track lender stipulations and ensure timely satisfaction of all conditions.

5. Appraisal, Title, & Insurance Coordination

• Request and manage appraisal ordering, scheduling, and borrower coordination.
• Order title work from title companies and monitor delivery.
• Request insurance quotes, verify coverages, and obtain required documentation.

6. File Management & Compliance

• Organize documents inside the Client’s CRM or storage system.
• Maintain accurate notes and ensure proper documentation for audits.
• Assist with pre-closing, closing, and post-funding documentation as needed.

• Payment terms, billing frequency, and applicable service fees shall be agreed upon separately in writing between the Client and Service Provider.
• Fees are non-refundable due to time, labor, staffing, and resource allocation.
• The Client understands that third-party software, communication tools, lender fees, appraisal fees, title fees, insurance fees, underwriting fees, or any other third-party costs are not included unless explicitly stated in writing.
• Any additional workload, expanded responsibilities, or service requirements outside the agreed scope may require a revised agreement or written approval from both parties.

• This Agreement begins on the date services commence and requires an initial minimum commitment of three (3) consecutive months (“Initial Term”).
• The Client may not terminate the Agreement for convenience during the Initial Term. If the Client cancels, suspends, or otherwise discontinues services before completing the Initial Term, all unpaid service fees for the remainder of the Initial Term shall become immediately due and payable.
• After completion of the Initial Term, this Agreement will automatically continue on a month-to-month basis. Either party may terminate the Agreement after the Initial Term by providing at least fourteen (14) days’ written notice.
• Termination does not relieve the Client of responsibility for any fees incurred or owed through the effective termination date. Payments already made are non-refundable, and no prorated refunds or credits will be issued for partial billing periods.

The Client agrees to:

• Provide accurate borrower information, loan submissions, and internal system access.
• Ensure compliance with state and federal lending laws and licensing requirements.
• Respond promptly to requests from the Loan Processor VA to avoid delays.
• Maintain a compliant communication process with borrowers, lenders, and partners.

The Client acknowledges that the Loan Processor VA is not a licensed loan originator and cannot perform activities requiring licensure.

The Service Provider agrees to:

• Provide a trained, vetted Loan Processor VA capable of performing the services listed.
• Maintain high standards of communication, professionalism, and accuracy.
• Follow internal SOPs and Client workflows when provided.
• Ensure that all Client and borrower information is handled with confidentiality.

• All borrower information, loan documents, communication threads, and lender files are confidential.
• All proprietary materials created for the Client belong to the Client.
• The Service Provider will take reasonable measures to protect sensitive data from misuse or unauthorized access.

• Exclusivity is not guaranteed unless explicitly stated in writing.
• Full-time VA plans will include a dedicated resource assigned solely to the Client.

Both parties agree to comply with all relevant federal and state regulations, including but not limited to:

• TILA (Truth in Lending Act)
• RESPA (Real Estate Settlement Procedures Act)
• CAN-SPAM
• TCPA
• FCC Guidelines

The Client is responsible for ensuring all activities performed under its direction comply with relevant lending laws.

Each party agrees to indemnify and hold the other harmless from:

• Claims, damages, or losses arising from misuse of data
• Violations of compliance or licensing laws
• Errors caused by inaccurate or outdated information provided by the Client
• Acts or omissions performed by either party

This section survives termination of the Agreement.

The Service Provider is not liable for:

• Lender decisions, approvals, rejections, delays, or underwriting outcomes
• Funding delays outside the Service Provider’s control
• Incomplete files due to missing Client/borrower documentation
• Issues caused by third-party platforms, CRMs, software, or lender systems

• Upon termination, the Client will receive all documents and files processed up to the termination date.
• Proprietary training materials, automations, internal SOPs, and workflow systems of the Service Provider remain the property of Leads2Closings.

• All disputes must first go to mediation as a condition before arbitration or litigation.
• Mediation will take place in the jurisdiction of the Service Provider (State of New York).
• If a party rejects a written settlement offer during mediation and fails to achieve a better outcome, that party shall cover the other party’s reasonable attorney fees and costs.

This Agreement represents the entire understanding between both parties and supersedes any prior verbal or written agreements related to Loan Processor Virtual Assistant services.