Wholesale Pricing and Residual Income
Becoming a Fairway America Correspondent/Affiliate benefits you in many ways. It allows you to tap into an entire market of real estate investors and small business owners who want to borrow relatively small amounts of money. By having a reputable private money lender at your fingertips, you will be able to provide your customers with fast, quality service, making you an invaluable resource to your clientele.
As a Correspondent/Affiliate, you will receive wholesale pricing via a reduction in Fairway’s retail loan fees. Pricing sheets are updated on an ongoing basis, and will be provided to you regularly, along with your marketing materials. The reduction in retail loan fees will allow you to retain more of the fees being charged to the borrower, thereby earning greater income!
For those with Correspondent status, the more loans that you bring to Fairway, the
more opportunity you have to make money! Once you have accumulated a portfolio of $5MM of loans, you become eligible to receive ongoing residual income. That means that you could be receiving an income for the entire life of the loans you have originated! As your portfolio of closed loans grows, the percentage you are eligible to receive may increase. Not only are you earning more money at closing, you can receive an ongoing stream of revenue during the loan’s term. Affiliates are encouraged to work up to Correspondent status in order to qualify for this same revenue stream.
For information on our expectations of our Correspondents and Affiliates, click here.
