How would I collect my compensation for my points at closing as a mortgage broker? Jordan Brewer
As far as compensation for points goes (which cannot exceed one point on top of DHM's standard fees), it is your responsibility as the mortgage to collect it at closing. You may want to have some sort of fee agreement or other contract signed by your client to ensure you get paid. It is your responsibility to collect your fee from the client at closing through the title company. Do Hard Money does not collect this for you, nor will we allow this to be paid from out of the proceeds. Your client will need to pay this fee in cash at closing. Again, it will be your responsibility to collect this compensation closing and DHM will not pay from the proceeds.
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