Commission processing (for Agents & Brokers)

Commission processing (for Agents & Brokers)

Overview

This is how Federa processes commissions for closings handled by a title or escrow agent. 

Process

Agents and Brokers from their Federa App will follow these steps to prepare for closing:
  1. Open the Federa App and go to My Transactions.
  2. Find the property involved in the transaction.
  3. Add the HUD/CD/ALTA in the documents section.
  4. Scroll down and go to Payment Requests.
  5. Create a New Request.
  6. Choose your Due Date and select yourself for the "to" field.
  7. Use the "+ Add New" to add the total amount of the commission.
  8. Ensure all details are correct, then press "Continue".
  9. Confirm the Request.
  10. Select "Print Invoice" which will open a Pop Up where you can download the invoice using the Invoice from the document icon next to the invoice amount.

The invoice provides instructions to the title company to disburse commissions directly from closing to the Agent/Broker. Additional instructions are provided on how to remit Federa's portion of the transaction.

What if a change needs to be made after an invoice is generated?

If a change is needed on the commission invoice, follow the prompts on your Federa App to regenerate a new invoice. If the prompts do not provide the right options for your circumstances, create a ticket through the support center.

Check or Wire?

Federa always recommends commissions be processed by wire transfer when possible.

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