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VA ADDENDUMThis addendum is to the Mortgage Broker & Correspondent Agreement (the “Agreement”),which was entered into concurrently with this Addendum or prior to this Addendum by andbetween SWMC and Broker/Correspondent. The definitions used in this Addendum shallhave the same meanings as the definitions of the Agreement. To the extent that thisAddendum may conflict with any provision of Agreement, the terms and conditions of thisAddendum shall control and supersede any conflicting provision in the Agreement.For non-delegated Correspondents: Correspondent desires to be approved to originateVA loans, and SWMC is willing to sponsor correspondent to originate VA loans which are inconformance and compliance with VA guidelines and the Agreement.For delegated Correspondents: Correspondent desires to be approved to sell closed VAloans to SWMC, and SWMC desires to purchase VA loans originated and closed bycorrespondent which are in conformance and compliance with VA guidelines and theAgreement.In addition to the various representations, warranties, and covenants contained in theAgreement, B/C represents, warrants, and covenants the following as to each VA mortgageloan application submitted to SWMC:1. B/C will not issue to applicants a lock-in agreement unless B/C has received writtenconfirmation of approval of the interest rate, points, and terms from SWMC.2. B/C will not charge any fees above the maximum fees allowed by VA. In event that feesare charged in excess of those allowed by VA, B/C will refund those fees to borrower sothat the loan can be guaranteed.3. B/C acknowledges that B/C must pay the annual renewal fee and will do so in a timelymanner each year.4. B/C acknowledges that if a loan has been submitted to VA and declined, B/C will notbring or submit that loan to SWMC. Loans previously declined by the VA can besubsequently approved only by the VA and not by any lender.5. B/C acknowledges that SWMC will be responsible for obtaining the loan guarantee (LGC)from VA on all loans closed hereunder. B/C further agrees that if VA denies the insurance(LGC) for any reason except for acts and omissions by SWMC, B/C will take all measuresto correct the deficiencies in documentation, etc., so that the loan can be guaranteed.__________________________________________________________________Signature of Authorized Officer, Title__________________________________________________________________Name (please print)DateInitials:________ BC App Ver. 7.7 10/06/2014 Page 32