Seems to me the lender will be capped at those amount to collect a fee, but I don’t see any reason you as a broker can’t have your own fee agreement in place. Just seems that on the backend you’d be at the mercy of the lender. With guys like Wells Fargo, you probably won’t be able to have them disperse however many points you agreed to with the borrower at closing docs. You’d have to have the borrower send you the fee directly. Other lenders would have to pay you the referral fee directly, rather than having the lender charge the borrower your 1-2% which is then given to you.

So, to me it’s reasonable to collect a $2500 upfront or at term sheet, and then collect a fee direcrly from the lender, or have a separate agreement in place with the borrower that calls for a success fee after closing — which the borrower would have to wire to you. Hopefully they honor it.

Regardless, this isn’t totally in effect until OCT.