Cent Banc’s Commercial Loan Fee Agreement
We believe that Professionals should be rewarded for their efforts. To provide your clients the best service and competitive pricing, we do not permit outside point letters or higher fees – instead, we simple allow you to participate in our net commissions.
Professional fees on Commercial Loans are not regulated by RESPA, NMLS, Dodd-Frank or the CFPA. This is due to these loans falling into an ‘investor or business classification’ and outside of consumer loan regulations. No fees are permitted on any residential loan of 4 units or less.
We welcome referrals from commercial realtors, attorneys, CPA’s, residential mortgage brokers, business brokers, real estate brokers and other financially oriented professionals.
Professionals are encouraged to have a strong borrower relationship and, preferably, the transactions are controlled by the Professional.
As a business referral partner, Cent Banc will provide these general terms:
Referral Fee Agreement
You will be supplied with a referral fee agreement specific to the borrower. If you control the transaction and we work directly through you, we pay 25% of Cent Banc’s Net Fees.
If you simply provide some information, a name, and a number we pay 10% of our net fees. Lastly, if you charge fees outside of the transaction, Cent Banc does not pay out any referral fees.
You may maintain your relationship with the Client throughout the transaction and subsequent transactions with the same Client.
The referral fee is calculated from the net loan fee that is originated by Cent Banc, or its partnerships, and distributed by Cent Banc to the Professional at the closing or within 3 days after the commission check clears the bank.