Compensation to Broker. Inbanet policy and broker fee schedule states no broker fee shall be paid until all loan conditions are met and all documentation required by the Lender to close said loan are received. Broker fees are to be paid when Inbanet receives verifiable funds at closing and funds intended to be paid to Broker in connection with this Agreement clear Lender of Record’s bank. The normal turnaround time to mail Broker’s check is seven (7) business days. Inbanet reserves the right to request a modification of all broker fees and or any compensation to Broker in order to effectuate a closing of the contemplated loan. The following is required in order for Broker to receive his/her compensation in connection with this Agreement: original loan documents, an executed version of this Agreement, satisfaction of Lender loan conditions, Inbanet to Broker Contract Fee Agreement, Referring Broker License and executed W9 form.
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Sources: Broker Application Agreement, Broker Application Agreement