Lender Compensation definition

Lender Compensation. The lenders whose loan products we distribute generally provide their loan products to us at a wholesale rate. The retail price that we offer you will include our compensation. For example, if you would rather pay a lower interest rate, you may pay higher up-front points and fees. Also, if you would rather pay less up-front, you may pay all of our compensation indirectly through a higher interest rate in which case we will be paid directly by the lender. The cost of our services and/or compensation is not due unless, and until, the loan closes. We cannot receive compensation from both the borrower and the lender on the same transaction.
View Source

Examples of Lender Compensation in a sentence

  • The rate lock, loan delivery and lender compensation for Home Flex Loans are detailed in attached Exhibit B (Home Flex Quick Reference: Rate Lock, Loan Delivery and Lender Compensation), which is incorporated in this Addendum.

  • Any compensation (such as rate buy-downs, rebate or other fees) to be paid by Originator to Lender on any loan is set forth at E xhibit C and subject to adjustment by Lender from time to time at its sole discretion, and such adjustments will be effective with respect to loans funded after Lender provides written notice to Originator, and such Lender Compensation shall be earned upon loan funding and will be withheld by Lender from the loan funding amount to be transferred to Originator.

  • Broker is not required to change or reaffirm its compensation level every month; if written notice of a Lender Compensation Designation change is not received, Broker’s current Compensation Election will automatically apply to the next month.

  • If CSC agrees to a change to the Lender Compensation Rate as requested by Broker, then CSC will issue an amendment hereto (an "Update Form") which will become effective the first business day following the business day CSC receives a Broker executed Update Selection Form indicating Broker’s newly elected Lender-Compensation Rate.

Related to Lender Compensation

  • Eligible Compensation means, with respect to each Participant for each pay period, the full salary and wages paid to such Participant by the Company or a Participating Subsidiary, including commissions, bonuses (to the extent not excluded below), overtime pay and shift differentials. Except as otherwise determined by the Committee, “Eligible Compensation” does not include

  • Basic Compensation means Salary and Benefits.

  • Special compensation means payment to an adult foster care facility to ensure the provision of a specialized program in addition to the basic payment for adult foster care. Special compensation does not include payment received directly from the Medicaid program for personal care services for a resident, or payment received under the supplemental security income program.

  • Cash Compensation means any discount, concession, fee, service fee, commission, sales charge, loan, override, or cash benefit received by a producer in connection with the recommendation or sale of an annuity from an insurer, intermediary, or directly from the consumer.

  • Additional Compensation has the meaning set out in Section 13.3(1).