The Mortgage Broker shall act in accordance with any laws, rules, and regulations of the state in which business is conducted and in accordance with Bylaws of Kentucky Mortgage Brokers Association.

The Mortgage Broker shall perform business in a manner reflecting honor and integrity and shall avoid and report fraudulent and unethical practices to the Association.

In accepting employment as an agent, the Mortgage Broker pledges to protect and promote the interests of the client. The obligation of absolute fidelity to the client's interest is primary.

The Mortgage Broker shall abide by generally accepted principles of real estate valuation when reporting to the investor regarding the valuation of the offered collateral for a loan.

The Mortgage Broker shall advise the relevant parties of any equity interest he/she may have in the collateral offered as security for the mortgage loan.

The Mortgage Broker shall not advise, advertise or propose terms and conditions not available and not likely to be available.

The Mortgage Broker should attempt to pull all agreements into written form and shall abide by all agreements, whether written or oral.

The Mortgage Broker shall maintain special accounts separate from his/her personal accounts for the deposits of trust or escrow.

The Mortgage Broker shall not speak disparagingly of the business practices of a competitor or a transaction being negotiated by a competitor.