Pricing
Free For Lenders:
1. Sign Up For Free:
Sign Up for free. No need to put in your payment info until later. From there you can begin, as the platform is self-service and simple to use.
Note: GFO & All Originators Incur Several Phases of Costs To Provide Lenders A Platform That Is Free To Signup & Pay-For-Performance:
Phase I: GFO incurrs the ongoing cost to build out & manage the platform.
Phase II: Onboarding each lender costs GFO between $600 and $2,400.
Phase III: Originators then invest their own capital for marketing costs, time, and effort to bring lenders borrowers (with no guarantees that they will be paid back).
2. List Your Borrower Application:
Upon signup we will list your borrower application URL on the platform with a tracking tag, making it accessible to all originators, from loan brokers, to publishers, to media influencers, and others. All you have to do is set your loan origination fee for each loan type and tell the system your lending criteria, which will be shown to all originators and borrowers.
3. Track & Receive Loan Originations:
- Track the performance of originators in your Go Fish Admin Panel by viewing the loan originations/loan applications that our originators generate for you.
- Monitor all of the successful loan originations that Go Fish brings you through your Go Fish Admin Panel as well.
- Optionally Project Hire loan originators. Read more about that in our FAQs
4. Automate & Defer All Payments of Loan Origination/Referral Fees Monthly, Out Of Profit, Over 12 Months:
Upon successful (funded) loan originations, our platform automatically facilitates lender's payment of their chosen loan origination fee to the originator via ACH. And our system splits & defers that payment monthly, over a 12 month period, in order to allow the lender to pay the fee out of their profit, lightening & automating the compensation process. Go Fish Originators Inc retains between 8% and 20% of each originator's commission: For each separate originator: [20% for YTD commissions generated up to $100k, 15% for YTD $100k to $500k, 8% for YTD $500k+].
Here we feel that lender's paying loan origination/referral fees upfront (at the close of each loan) is limiting for lenders "and" originators:
- It heightens the lender's financial risk by issuing capital before profit is made
- Often, these fees are passed on either partially or fully to the borrower, making the loan less attractive to borrowers
- This practice may lead lenders to set lower origination fees to stay competitive for borrowers, but this is a double-edged sword. While it helps attract borrowers, it simultaneously reduces incentives for originators to refer clients, decreasing the lender's appeal in the broader loan origination market
Here at GFO, lenders split & defer all loan origination/referral fees monthly, over a 12 month period.
This flexibility benefits lenders & originators by:
- Reducing Borrower Costs: By spreading payments over time, lenders can avoid passing upfront origination fees to borrowers, making loans more attractive.
- Increasing Origination Fees: It enables lenders to easily raise the origination/referral fees paid to originators, which leads to many more loan originations as originators are further incentivized to refer borrowers to them.
- Enhancing Cash Flow Management: Allows fee payments to align with lender's revenue and profit schedules, ensuring better financial balance.
- Legal Catagorization As Marketing Expense: As we are a marketing referral platform, with originators legally recognized as marketing referral agents that do not exude broker activity, the structure of paying this fee on the back-end (and in multiple installments) solidifies its legal categorization as a back-end marketing expense.
For example, a standard 3% origination/referral fee on a $1M, 30 year mortgage, with a 6% APR is $30,000 which pays $2,500.00 monthly for 12 months; this allows the lender to pay the $30,000 fee out if their approximately $60,000 profit from year 1 of the mortgage. Ten originations of this size pays $300,000 via 12 months of monthly payments of $25,000.00 each.
Free For Originators:
1. Sign Up For Free:
Sign Up and try it. Whether you're a Loan Broker, Mortgage Broker, Real Estate Agent, RE Broker, Publisher, Media Influencer, SME, or Affiliate, our platform is open to all free of charge.
2. Browse Lenders and Origination Fees:
Explore our Lender List, which shows information about them and the loan origination fee that they pay. Filter lenders based on origination fees, lending criteria, loan types, and more to find the best fit for your audience or borrowers.
3. Promote and Refer:
Use your unique referral link to promote lenders to your audience or borrowers. Embed lenders' borrower applications into SME websites for seamless integration and automatic referrals.
4. Track Your Performance:
Monitor the views count from your promotion efforts and track all the borrowers you've successfully originated for lenders to ensure you're rewarded for your hard work.
5. Get Paid:
Once the originator shares a lender’s application URL and the borrower secures approval and funding, the loan origination/referral fee (commission) that was set by the lender for that specific loan type is automatically paid to the originator/referral agent. All fees are split & deferred by the lender monthly, over a 12 month period. When fees are paid over time as such, they tend to be higher, providing originators with the opportunity to build a reliable, semi-long-term income stream. The 12 monthly payments are automatically deposited into the originator's designated bank account via ACH. Go Fish Originators Inc retains between 8% and 20% of each originator's commission: For each separate originator: [20% for YTD commissions generated up to $100k, 15% for YTD $100k to $500k, 8% for YTD $500k+].