However, communications with the bank were slow and uncertain and as a result they kept tacking on late fees and penalties which ate up a good portion of his good faith payments, such that he is still NOT good –in fact he’s 90 days and some $18K in arrears.

There was a minimal (like $100) resigning fee and the interest rate would reflect market rates.

I plan on giving them their application fee back because I did not get to the point of running their credit check.

They charge a $40 flat fee to assess the situation, then go to the hardware store, buy supplies, and fix the problem that day charging a per hour rate plus the actual cost of supplies.

I know there are some agency that charge a monthly fee to their agents instead of taking a commission cut.

So long as the private lender is utilizing their actual monies and not borrowing from a third party then charging HML fees when they loan it to another, its ok.

You should have simply assigned the LO, received your fee, and moved on to the next deal.

Not to mention the lease-up fees as well.

Lack of control, fees, etc. but I'd love to hear what some of you guys think.Thanks for the help!

He then assigns it to Wholesaler B, who then assigns to Wholesaler C at which point the price to purchase has become cost prohibitive after everyone tacks on their assignment fees.