Let that lender know that you need their commitment on meeting the deliverables. 

What's to say he won't commit another felony...

Actually I got an offer for 4.5% interest but requires 1% upfront application fee (refundable at closing) 1% commitment fee (refundable at closing) How do I verify if it is legit?

The wholesaler probably just wanted to get a deeper level of commitment than the verbal. 

They can still buy a car, they still have their credit cards, they can still rent a home / apartment (or move in with someone else) - so the binding effect of committing to a mortgage just is not there any longer.  

Otherwise, you have to look at your other commitments, and how much bandwidth you have for this stuff. 

It is key that you let everyone in your current network know what you are doing and that you are an agent.Honestly from a time commitment standpoint your start to the career will be generating leads.

If you have character questions, then this may help you gauge their commitment, but if you have character questions you shouldn't invest with them no matter how much they put in.  

Unless you have some very close ties that know and trust you.Next is the bigger HML  we are seeing 1 to 1.5 in points and 8 to 9 %  and interest on drawn funds not the commitment which is mandatory in my mind in new construction. 

My potential partner wants to sit down with these people before he fully commits.