[Iscibibi153]

Do any shops have a policy of absolutely no psf fees?

[Hedley Lamarr]

What is a PSF fee?

[fin4all]

What is a PSF fee?

professional service fee aka junk fee / brokers fee etc

[Hedley Lamarr]

Oh-We don't use them as we are a factor and asset based lender. We typically have referral agreements where we pay our referral partners commissions on deals closed. It is pretty lucrative so we rarely have brokers/referral partners asking for additional fees.

[Cashman1]

Do any shops have a policy of absolutely no psf fees?

If they do loose their number....

[TeamFund]

Do any shops have a policy of absolutely no psf fees?

A lot of funders have a zero tolerance fee policy. However the higher risk funders are generally less strict.

[JakeS]

No funder should have a say in what you charge. Funders charge origination so sometimes it's best to add your fees to the origination fee and collect it that way .
Jstrelzik@flashadvance.com 305-785-2548
Direct Funder

[abfunders]

No funder should have a say in what you charge. Funders charge origination so sometimes it's best to add your fees to the origination fee and collect it that way .
Jstrelzik@flashadvance.com 305-785-2548
Direct Funder

If you add fees onto a lender or funder, especially high ones, that can totally change their underwriting on the feasibility of payback.
The MCA is a 90 day deal, If some broker goes and adds on 5-10% fees, and the client doesn't net as much, that can really change the affordability.

I agree, the funder should be "in" on it, and put everything on the closing docs / contracts if the broker wants to add extra fees.
However, I know that most lenders/funders do it like Kevin (i.e. assume that there's enough money for the broker in their payoffs), and other funders/lenders just assume PSFs are going to be charged and don't care.
However, a funder can do whatever they want.... they can even sue you for violation of their ISO agreement if it says "no additional fees."

I personally do fee agreements on a case-by-case basis. Almost all residential mortgage brokers do that, and they even charge for approval, not just funding, since they aren't paid by the lender at all. In such a case, they're actually working for the client and not "double dipping."

For me, it depends on the client, and never on an MCA, but I very often try to set up a success / fee agreement with my clients, but they know that from the beginning, not sprung on them in the end last minute, and always with the lender's agreement.

[Michael I]

Do any shops have a policy of absolutely no psf fees?

that will be stupid as some types of financing tell you its ok or the only way you get paid .Read iso agreement and stick to rules is my policy

[Cashman1]

A lot of funders have a zero tolerance fee policy. However the higher risk funders are generally less strict.

Please name 2-3 funders with this zero tolerance fee policy?

[Yankeeman07]

Putting aside the discussion of PSF good or bad, anyone that want to collect PSF within minutes may utilize our E-Check 21 Gateway:

https://check21gateway.com/?reference_no=2138250179

[Chambo]

Oh-We don't use them as we are a factor and asset based lender. We typically have referral agreements where we pay our referral partners commissions on deals closed. It is pretty lucrative so we rarely have brokers/referral partners asking for additional fees.

that is, if they are telling you about them.....

[jared]

I ask my ISOs to keep it under 5% and to never PSF a reverse