AFFILIATE AGENT AGREEMENT
This Affiliate Agent Agreement (“Agreement”) is entered into by and between:
Faundare Capital LLC, a Texas limited liability company, with its principal place of business located at 801 Travis St, Houston, TX 77002 (hereinafter referred to as the “Company”),
and [Agent Name in the Agent Application Form], located at
[Agent Address in the Agent Application Form] (hereinafter referred to as the “Affiliate Agent” or “Agent”).
Collectively, the Company and the Agent shall be referred to as the “Parties.”
1. Purpose
The purpose of this Agreement is to establish the terms under which the Agent may refer commercial lending clients to Faundare Capital LLC and be compensated based on their level of involvement.
2. Relationship of the Parties
The Agent is an independent contractor and shall not be considered an employee, partner, or representative of the Company. The Agent shall not make binding representations on behalf of the Company unless authorized in writing.
3. Duties and Responsibilities
3.1 The Agent may perform one or both of the following roles:
- Referral-Only Agent: Refers prospective clients and submits initial lead information.
- Full-Service Agent: In addition to referring clients, the Agent actively follows up with the borrower and facilitates the collection and submission of all required loan documentation.
3.2 The Agent agrees to act professionally and in good faith in all dealings on behalf of the Company.
4. Compensation
4.1 Minimum Company Fee
The Company shall retain a minimum platform fee equal to 0.50% of the loan amount on each successfully closed transaction. This fee is included in the origination charges disclosed to the borrower and is non-negotiable.
4.2 Agent-Determined Commission
The Agent may set and disclose an additional origination fee, not to exceed the maximum allowable by program type (generally 3.5%–4.5% of the loan amount). The Agent shall retain 100% of this additional fee as their commission.
4.3 Recruiting Bonus
The Agent may receive override commissions for recruiting and developing new Affiliate Agents, subject to the following limits:
- Level 1 (Direct Recruit): 12% of company fee collected on loans closed by direct recruits.
- Level 2 (Indirect Recruit): 6% of company fee collected on loans closed by second-level recruits.
- Level 3 (Third-Level Recruit): 3% of company fee collected on loans closed by third-level recruits.
- No further tiers are permitted.
- Eligibility and Conditions:
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Recruited Agents must remain active and submit at least full applications within a calendar year to be counted toward bonus eligibility. The first calendar year is considered as a training period, and thus the agent full eligibility.
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Bonuses are calculated based on commissions earned and collected by Faundare Capital and are paid monthly in accordance with Section 4.5.
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Faundare Capital reserves the right to verify recruiting claims and disqualify bonus eligibility in cases of inactive participation or abuse.
4.4 Payment Timing
All fees and bonuses shall be settled within five (5) calendar days after the beginning of the month, provided that the Company has received payment from the borrower or lender.
4.5 Commission Eligibility.
The Agent shall be compensated based on the total commission earned by Faundare Capital in connection with a successfully closed loan sourced from the Agent’s referral.
4.6 Commission Adjustments.
In select cases where the total origination fees are reduced, modified, or shared with other parties in order to close the transaction, the Agent’s commission may be adjusted proportionally. Any such adjustment must be disclosed and agreed to in writing by both Parties prior to closing.
4.7 Market-Based Revisions.
The commission structure set forth herein is subject to adjustment based on shifts in market conditions, borrower demand, lender pricing, or regulatory changes. Faundare Capital reserves the right to revise Agent compensation levels, provided that written notice is given to all active Agents in advance of any changes taking effect.
4.8 Platform Access Fee.
To maintain access to Faundare Capital’s agent portal, CRM tools, training resources, and deal submission systems, each Agent agrees to pay a monthly platform access fee of Fourteen Dollars and Ninety-Nine Cents ($14.99). This fee is non-refundable, billed monthly, and required to maintain active agent status. Continued access to the platform and eligibility for commission payments are contingent upon timely payment of this fee.
5. Commitment to Responsible Lending and Broker Responsibilities
The Agent hereby affirms that it shares Faundare Capital’s commitment to abide by fair lending principles and to act in the best interest of loan applicants. Therefore, the Agent agrees to:
A. Carefully evaluate each loan applicant’s experience, financial position, and project scope. The Agent will only submit loans to Faundare Capital when the applicant has demonstrated the ability and willingness to complete the project and repay the loan.
B. Ensure all submitted information is truthful and free from material misrepresentation, including but not limited to:
a. Valuation and/or inspection accuracy.
b. Accurate representation of credit, experience, and project scope.
c. Verifiable borrower experience in real estate or business development.
The Agent acknowledges Faundare Capital’s commitment to preventing mortgage fraud. Fraud is considered a serious offense, and Faundare Capital reserves the right to report suspected fraud to regulatory and criminal authorities and pursue civil action against involved parties.
The Agent further agrees to perform the following responsibilities at their own expense:
A. Submit completed loan application packages to Faundare Capital using designated forms and procedures.
B. Furnish supporting documentation including but not limited to:
a. Application fee
b. Credit report
c. Valuation or inspection
d. Project scope and entity documentation
e. Borrower experience summary
f. Any additional materials requested by Faundare Capital
C. Respond to reasonable follow-up requests, even post-closing.
D. Perform other customary services as required for loan processing and closing.
E. Comply with all applicable laws and lending regulations.
F. Ensure loans are for commercial purposes and not intended for owner-occupied or consumer use unless legally exempt.
The Agent represents and warrants the following at the time of each loan submission and loan closing:
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No participation in predatory, deceptive, or abusive lending practices.
B. All information submitted is true and complete to the best of Agent’s knowledge. The Agent is responsible for the accuracy of all submitted data.
C. The Agent maintains all required licenses and authority to operate in applicable jurisdictions.
D. The individual signing this Agreement has full authority to bind the Agent.
E. The Agent does not hold an ownership interest in any escrow or title company used in submitted transactions.
F. The Agent discloses any financial interests beyond loan origination fees.
G. The Agent agrees to submit to background and OFAC checks as a condition of this Agreement. All principals of any broker entity must also comply.