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Commission Guide CHL Reverse

This Commissions Guide article relates to Household Capital reverse mortgage loans

Updated over 2 weeks ago

Commission Rates

ex GST

inc GST

Upfront

0.80%

0.88%

Trails

0.20%

0.22%

Upfront Commission

  • The fee will be payable following settlement of the Loan.

  • Spot and refer deals will be paid a flat payment of $1,100.00 inclusive of GST

Trail Commission

· No Trail Commission will accrue in respect of Loans during any period the Loan is in default. A Loan will be in default if any Loan payment due under the Loan is in arrears for 30 days or more. Once any default is rectified, Trail Commission will commence again but will still not be paid for the default period.

Clawbacks

Period

% Clawback

0-12 Months

100%

If a Loan is repaid within 12 months of the date of the initial advance, 100% of the Upfront Commission paid is clawed back

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