It depends on whose lender it is. Three cases.
Lenders in the network
You do not need to set up separate agreements to get paid. The platform collects the commission from the lender side and deposits it into your account.
Payouts are processed every Friday. We aim to pay out the same week the lender pays us. Lender timelines vary, so the variance sits on the lender side rather than ours.
Lenders you already have a relationship with
The commission collection service is optional and free. If you already have a direct relationship with a lender, that lender can pay you directly instead. Any agreement you already have with them is between you and them, and using the platform does not change it.
Your own external lenders
For custom or external lenders that are not on the platform, you arrange payment directly with them.
Click through the walkthrough above to see how your own lender gets onto a deal in the first place.
Clawbacks
Some lenders have clawback terms. We have no interest in holding your commission, so if a lender raises one we will tell you what they have asked for.
Related
Do I need an individual contract or agreement with each lender, or does the platform handle that?. The paperwork side of the same question.
How do I add my own custom lender that isn't on the platform, and how does it work?. How your own lenders fit into the workflow.
Do you take a cut of my commission since the platform is free?. What the collection service costs you.
Are lender commission rates fixed, or can I negotiate them?. Whether your negotiated rate can differ from the listed one.
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