1. California program and application
The initial application asks for contact information and an optional California DRE license number. License role and brokerage details are not required to submit an initial application. Any eligibility, licensing, payee, and authorization requirements are reviewed separately before participation is approved.
These Referral Program Terms describe participation in the VirtuaLending California business-purpose loan referral program. Applying requests an eligibility review; it does not enroll an applicant, establish a compensation agreement, or authorize a payment. Participation begins only after written approval and a separately executed agreement identifying VirtuaLending’s paying legal entity and the approved referring brokerage or independent broker.
The initial program is limited to approved California real estate licensees, approved brokerage payees, and eligible California property transactions. Availability depends on the parties’ licensing authority and the applicable lender. There is no enrollment fee or minimum referral requirement.
2. Eligible business-purpose loans
Only loans independently determined to be primarily for business or commercial purposes and exempt from RESPA under 12 CFR 1024.5(b)(2) may qualify. VirtuaLending reviews actual purpose, occupancy, use of proceeds, and supporting evidence. A DSCR product name, entity borrower, investment-property label, or signed statement does not by itself establish eligibility.
Consumer-purpose borrowing, personal debt consolidation, primary-residence or second-home financing, and loans with mixed or unclear purpose are excluded from this referral program. Loans subject to RESPA’s referral-fee restrictions are not eligible. The program does not compensate referrals to title, escrow, pest-control, home-protection, or other settlement vendors.
3. What “up to 25%” means
The maximum referral rate is 25% of eligible broker compensation actually received and retained by VirtuaLending on the specific funded loan. The exact rate, eligible compensation components, authorized payee, payment deadline, and any agreed conditions must be stated in a written compensation schedule accepted before the referral. The maximum is not a guaranteed rate and is not a percentage of the loan amount, property price, interest, or real estate sale commission.
Eligible broker compensation means the borrower-paid or lender-paid origination or broker compensation expressly included in that schedule, excluding amounts paid to third parties, lender charges, discount points paid to purchase a rate, appraisal, credit, title, escrow, taxes, insurance, and refunded or reversed compensation. Ordinary VirtuaLending overhead is not deducted unless the signed schedule expressly says otherwise. No separate referral surcharge is authorized by these terms.
Illustration only: if eligible broker compensation received is $10,000 and the agreed rate is 25%, the referral amount is $2,500 before any brokerage split or applicable withholding. If the agreed rate is 15%, the same basis yields $1,500. Actual earnings depend on funding, compensation received, and the signed terms.
4. Licensing, brokerage approval, and payee
Applicants must hold the licenses needed for the activities they perform and remain in good standing. VirtuaLending reviews the referring licensee, responsible broker, brokerage, paying entity, lender requirements, and any required mortgage endorsement or authorization. A real estate license is not represented as permission to perform every mortgage activity.
For salespersons and broker associates, this program requires responsible-broker approval and routes approved payments to the authorized brokerage. California Business and Professions Code section 10137 governs compensation for licensed activity. An independent licensed broker may be reviewed as the payee. An agent’s personal bank account, entity, or W-9 does not override brokerage requirements. Any brokerage split is between the agent and brokerage.
5. Introductions and client choice
An approved participant may introduce a potential business-purpose borrower with permission to share contact information. Participation alone does not authorize taking a loan application, negotiating rates or terms, advising on underwriting, issuing approvals, handling borrower funds, or acting on behalf of VirtuaLending. Any additional services require appropriate licensing and a separate authorization.
Disclose the compensation arrangement and conflicts to the client as required by applicable law and the approved disclosure process, before the referral where required. Clients remain free to select their lender and settlement providers. Do not require use of VirtuaLending, misstate eligibility, inflate fees, pay sub-referrers, or describe the program as government-approved or automatically legal because a loan is called DSCR.
6. Registering a referral
Submit referrals through the channel identified in the signed agreement. VirtuaLending must acknowledge the referral and its compensation terms in writing. Existing active clients, duplicate introductions, self-referrals, related-party transactions, and competing attribution claims require written resolution before a fee is promised. No fee is earned merely for an application, quote, credit pull, introduction, or unfunded loan.
7. When payment becomes due
A fee becomes payable only after the eligible loan has funded, VirtuaLending has received the eligible compensation, the referral has been accepted under the signed schedule, the required client disclosures and agreements are complete, and the approved payee has supplied valid tax documentation. Each payment remains subject to applicable law and lender restrictions. The signed schedule sets the payment deadline and method; the website does not promise payment at closing or within a fixed number of days.
If relevant broker compensation is refunded or reversed, the corresponding referral adjustment is limited to the share attributable to that amount and governed by the signed agreement. Any recovery or offset must be lawful, documented, and communicated to the payee. A compliance hold must identify the unresolved condition. No party is required to make or accept an unlawful payment.
8. W-9 and tax reporting
The approved U.S. payee must provide a completed Form W-9 signed by a person authorized to certify for that payee. The legal payee, taxpayer name and classification, payment records, and tax reporting must be consistent with IRS instructions, including rules for disregarded entities. Persons unable to certify U.S. status require a separate tax-document review rather than a false W-9 certification.
Complete tax documents only through the designated secure signing or document-collection process. Do not place a Social Security number, EIN, bank details, or completed W-9 in the public application or ordinary email. Form W-9 is retained by the requester; it is not sent to the IRS as a registration. Applicable reporting and withholding requirements still apply, and a referral fee is not represented as tax-free.
9. Electronic records and signatures
The initial application acknowledgments are selected by default and can be changed before submission. Submitting confirms the selected application conditions only; it does not record a separate signature, W-9 certification, brokerage authorization, or executed compensation agreement. Separate signing steps identify the document, signer, capacity, and required certifications. Electronic W-9 collection must meet the IRS electronic-system requirements, including the form’s certification language and a reproducible signed record.
The signing flow must present its own electronic-record consent and instructions for obtaining a copy. If electronic signing is unavailable or unsuitable, ask VirtuaLending for the approved secure manual process. A provider completion notice confirms a signing event, not tax validation, program acceptance, or payment approval.
10. Application and document privacy
Application information is used to review eligibility, verify license and brokerage details, communicate about onboarding, prevent abuse, and maintain program records under the Privacy Policy. Tax documents are handled separately with access restricted to authorized personnel and service providers for tax, payment, and compliance purposes. Applicant details and tax forms are not added to borrower loan files through this program.
Share borrower details only with permission and only through the approved referral channel. Program participation does not provide access to a borrower’s credit report, tax documents, bank statements, or private portal. Contact support@virtualending.com about correction, access, or other privacy requests.
11. Changes, suspension, and ending participation
Either party may end future participation by written notice. VirtuaLending may pause new referrals for license changes, inaccurate information, legal restrictions, lender requirements, fraud concerns, or breach of the signed agreement. Participants must promptly report license, brokerage, ownership, payee, and tax-information changes.
Prospective program changes do not retroactively change an accepted referral’s agreed rate or eliminate an otherwise lawful earned fee. Existing accepted referrals and unresolved adjustments remain governed by their signed terms and applicable law. No exclusivity, employment, partnership, or authority to bind VirtuaLending is created.
12. Legal framework and final agreement
The business-purpose exemption is a coverage rule, not blanket permission to pay referral fees. California licensing, compensation, disclosure, fiduciary, privacy, and other applicable requirements continue to apply. No agreement or checkbox can waive a statutory prohibition. A loan-specific determination and an approved compensation arrangement are required.
The separately executed agreement must identify the parties, California scope, compensation schedule, payment deadline, permitted activity, client disclosures, dispute procedure, and authorized signatures. These terms do not impose a separate arbitration clause, broad indemnity, or personal payment guarantee. Mandatory legal protections control, and no provision requires unlawful performance. Contact support@virtualending.com or (323) 693-8064 with program questions.