Wisr Finance Consumer Loans Brokerage
Notes on Brokerage Origination Fee (prior to 01/01/2021)
- The amount of the Broker Origination Fee is dependent on the loan amount.
| Lender | Brokerage |
|---|---|
| Wisr | Up to $1,990 |
| Amount of Credit | Wisr Loan Establishment Fee | Broker Fee (Max) |
|---|---|---|
| $50,000 to $65,000 | $945 | $1,990 |
| $45,000 to $49,999 | $945 | $1,500 |
| $40,000 to $44,999 | $840 | $1,500 |
| $35,000 to $39,999 | $735 | $1,250 |
| $30,000 to $34,999 | $630 | $1,250 |
| $25,000 to $29,999 | $575 | $990 |
| $20,000 to $24,999 | $555 | $990 |
| $10,000 to $19,999 | $520 | $900 |
| $7,500 to $9,999 | $520 | $750 |
| $5,000 to $7,499 | $495 | $500 |
Notes on Brokerage Origination Fee (from 01/01/2021)<li>The amount of the Broker Origination Fee is dependent on the loan amount. This Fee forms part of the customers loan amount</li><li>Wisr will pay the Broker Origination Fee direct to the Brokers account on loan settlement</li><li>Personal Loans -<ul><li>AFG will receive a total commission of 2.30% which needs to be disclosed in the NCCP Credit Proposal document.</li><li>1.00% of the net amount financed is distributed by AFG the following month after settlement.</li>
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</li><li>Asset Finance -<ul><li>Broker will receive a commission of 1.50% – 2.00% of the net amount financed based on customers Equifax score (refer to lender calculator)</li><li>AFG will receive a total commission of 1.00% of the net amount financed which needs to be disclosed in the NCCP Credit Proposal document.</li>
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Notes on Clawback<li>Clawback will apply if -<ul><li>a Loan is more than 90 days in arrears</li><li>a default notice under s88 of the National Credit Code is issued in respect of a Loan</li><li>security for a Secured Loan has been repossessed or written off</li>
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</li><li>100% clawback if an event occurs on or before six months from the date the relevant loan is made</li><li>50% clawback if an event occurs after six months bot on or before twelve months from the date the relevant loan is made</li><li>In addition, if a Secured Loan is repaid early in full, within 12 months of the loan settlement date, 100% of the Commission is to be repaid in full in respect of that Secured Loan</li>
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