Updated over 4 years ago on . Most recent reply
Commercial Mortgage Broker Fee Structure (Canada)
I am refinancing a 22 unit MF property as our original assumed mortgage is up for renewal. The local broker's contract stipulates a commission fee to be paid by the borrower (me) not by the lender, and claims that the lenders do not pay commission on commercial mortgages. Is this common practice (Canadian context only, please)? My existing commercial mortgages are all either assumed or negotiated directly with the lender, and this is my first time running into this fee structure.