Resources > Glossary > Finder's Fee

Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Common Terms 1   Common Terms 2

Finder's Fee

Function: noun

Definition 1:
In a mortgage context, a finder's fee is a fee or commission paid to a mortgage broker for finding a mortgage loan for a prospective borrower. A finders fee would generally be classified as compensation given to an intermediary in a business transaction. Fee splitting is another common way to arrange a finder's fee. If a practitioner in one field, refers a client or clients to another practitioner with a particular specialty, the specialist might give the referring practitioner a percentage of the income derived from the client as a finder's fee.