Quote Originally Posted by Olderguy View Post
Why would you mention an PSF if you don't have an offer with specific commission? I'd only bring it up if the loan product doesn't pay me other than a small referral fee and I tell that to the client....I then tell them I'm sending a fee agreement and to send it back signed with a voided check along with a signed approval offer.
This was my question - so your approach is get an approval, then circle back if you feel its needed (funder doesn't pay, or pays a minimal amount). Thanks for sharing that. Do you give them a heads up that they may be on the hook for a PSF, or present that with the approval and say either you pay me or I don't share the approval? Seems like there would be potential to spend time getting to an approval, and then have a client decline to sign. OK, they don't get the loan, but you also wasted your time.

No judgement on your approach, just curious how others are approaching it.