Borrower pays the broker a fee
What is a broker fee:
Unlike in residential cases where usually banks pays the borker a fee when a mortgage broker brokers a Commercial mortgage usually the borrower payes the broker a fee. This usually a tricky matter for the broker. The approval process takes long time and hard work. Ofter times the borrower goes and talk to the bank directly - after the broker has arranged a meeting. So, it is important for the broker to get a fee agreement signed.
