Butler Rebates in Florida
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Revision as of 14:18, 15 June 2018 by Joetschida (talk | contribs) (Created page with "===Butler Rebates=== The Butler Rebate or discount comes out of the agent’s portion of the premium. The agent remits to the Underwriter the full share due to the Underwrite...")
Butler Rebates
The Butler Rebate or discount comes out of the agent’s portion of the premium. The agent remits to the Underwriter the full share due to the Underwriter as if no Butler Rebate/Discount was given. Let’s say that a $200 discount on a $100,000 deal is to be given as a Butler Rebate/Discount. Before going to the column on the HUD / CD to show the premium charged, off to the left of the column on the HUD / CD, show the full premium of $575 less $200 Butler Discount; and then in the actual column put the premium charge as $375. Remit to the Underwriter based upon the full $575.
