Mortgage Broker Referral Fee Agreement Template for Singapore

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Key Requirements PROMPT example:

Mortgage Broker Referral Fee Agreement

"I need a Mortgage Broker Referral Fee Agreement for my Singapore-based brokerage firm that includes specific provisions for digital referrals and online payment processing, with a focus on compliance with the latest MAS digital banking regulations as of January 2025."

What is a Mortgage Broker Referral Fee Agreement?

The Mortgage Broker Referral Fee Agreement is essential for businesses operating in Singapore's regulated financial services sector. This document is used when establishing formal referral arrangements between licensed mortgage brokers and individuals or entities who refer potential mortgage clients. The agreement ensures compliance with MAS regulations, defines fee structures, and outlines obligations under Singapore law. It's particularly important given the strict regulatory environment governing mortgage brokerage and referral arrangements in Singapore, including requirements under the Banking Act and Financial Advisers Act.

What sections should be included in a Mortgage Broker Referral Fee Agreement?

1. Parties: Identification and details of the mortgage broker and referrer

2. Background: Context of the agreement and relationship between parties

3. Definitions: Key terms used throughout the agreement including regulatory references to Banking Act, Financial Advisers Act, and MAS requirements

4. Scope of Services: Details of referral arrangement and responsibilities of each party

5. Referral Fee Structure: Payment terms, calculation methods, timing and compliance with regulatory fee restrictions

6. Compliance Obligations: Regulatory requirements including licensing, AML/CFT obligations, and consumer protection measures

7. Term and Termination: Duration of agreement and circumstances for termination

8. Confidentiality: Protection of confidential information and compliance with PDPA requirements

What sections are optional to include in a Mortgage Broker Referral Fee Agreement?

1. Non-Compete: Restrictions on competitive activities during and after the agreement term

2. Training Requirements: Specific training obligations for referrers to maintain compliance with regulatory standards

3. Marketing Guidelines: Rules for marketing and promotion of mortgage services in compliance with MAS guidelines

What schedules should be included in a Mortgage Broker Referral Fee Agreement?

1. Fee Schedule: Detailed breakdown of referral fees, calculation methods and payment terms

2. Compliance Checklist: List of regulatory requirements and compliance procedures under Singapore law

3. Referral Process Flow: Step-by-step guide for handling referrals including required documentation

4. Required Forms: Templates for referral documentation and regulatory disclosures

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Financial Services
Real Estate
Professional Services
Wealth Management

Relevant Teams

Legal
Compliance
Business Development
Finance
Operations

Relevant Roles

Mortgage Broker
Financial Advisor
Real Estate Agent
Compliance Officer
Business Development Manager

Industries

Banking Act (Cap. 19): Primary legislation governing banking institutions and their activities in Singapore, including mortgage-related services and referral arrangements

Financial Advisers Act (Cap. 110): Regulates financial advisory services and establishes framework for referral arrangements in financial services

Moneylenders Act (Cap. 188): Governs money lending activities and related referral arrangements in Singapore

Securities and Futures Act (Cap. 289): Provides regulatory framework for financial products and services, including certain mortgage-related securities

MAS Guidelines on Fair Dealing: Regulatory guidelines ensuring fair treatment of consumers in financial services, including mortgage broking

MAS Guidelines on Fit and Proper Criteria: Standards for assessing fitness and propriety of financial intermediaries and their representatives

MAS Guidelines on Referral Arrangements: Specific guidelines governing referral arrangements between financial institutions and intermediaries

MAS Notice 642: Specific regulations on mortgage financing, including restrictions and requirements for property loans

IBF Standards: Professional standards set by the Institute of Banking and Finance Singapore for financial sector practitioners

ABS Guidelines: Industry guidelines established by the Association of Banks in Singapore for banking practices

Licensing Requirements: Regulatory requirements for obtaining and maintaining necessary licenses and registrations for mortgage broking activities

Fee Structure Regulations: Rules governing fee arrangements, caps, and disclosure requirements in mortgage broking

Consumer Protection Requirements: Obligations regarding consumer rights, fair dealing, and transparency in mortgage broking services

Documentation Requirements: Mandatory record-keeping and documentation obligations for mortgage broking arrangements

AML/CFT Requirements: Anti-Money Laundering and Countering the Financing of Terrorism obligations applicable to mortgage broking

Personal Data Protection Act (PDPA): Requirements for handling and protecting personal data in financial services arrangements

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Let's create your Mortgage Broker Referral Fee Agreement

What is a Mortgage Broker Referral Fee Agreement?

What sections should be included in a Mortgage Broker Referral Fee Agreement?

What sections are optional to include in a Mortgage Broker Referral Fee Agreement?

What schedules should be included in a Mortgage Broker Referral Fee Agreement?

Authors

Alex Denne

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