Back End Compensation definition
Back End Compensation means the total compensation paid by the funding lender that inures to the benefit of the mortgage broker and the mortgage company for which the mortgage broker is an officer, partner, member, contractor, independent contractor, exclusive agent or employee.
Examples of Back End Compensation in a sentence
ISO shall be paid via Back End Compensation within thirty (30) business days after Queen Funding receives full payment of the purchased Receipts from Merchant.
The payment timeframe of the Renewal Compensation shall follow either, Front End Compensation or Back End Compensation, at Queen Funding’s sole discretion.