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04-15-2013, 08:00 PM #1Veteran
Reputation points: 4724
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AML- are you licensed to loan in all 50 states? And if you dont allow any fees (PSF's) by brokers, how would you pay them on 6 mo 1.12, 9 mo 1.18, 12 mo 1.24 as advertised? Wasnt your past practice to allow the broker to charge a origination fee which would come off the loan to merchant and pay the commission?
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04-17-2013, 03:29 PM #2Noob
Reputation points: 10
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- Apr 2013
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AML can fund in all states except for the following states: AR, CO, CT, FL, NY, OH, RI, TN, & TX.
Commission is paid by AML, i.e., the commission does not raise the rate to the merchant.
Taking commission both from the merchant and AML would be a conflict of interest for the broker.Last edited by AML; 04-17-2013 at 03:32 PM.
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04-18-2013, 11:14 AM #3Veteran
Reputation points: 135672
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So you are totally against the reps taking additional fees? I had heard in the past that was how you guys expected the reps top get paid, because there was no commission room in your ultra low rates
Originally Posted by AML
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04-22-2013, 01:32 PM #4Noob
Reputation points: 10
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- Apr 2013
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AML doesn't allow broker charging fees. It is a violation of the agent agreement and the broker will forfeit any commissions
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