Our commission structure is one that rewards production and productivity and although our Mortgage Originators are required to do less, our compensation plan is highly competitive and the more loans you close, the higher your commission split.
Loans Averaged Per Month Commission Split
0 60%
1+ 65%
2+ 70%
3+ 75%
Your commission split each month is determined by your production the previous quarter, so if you averaged 3 or more loans in Quarter #3 (July – September), your commission split would be 75%. Below is an example of what your payout would be based on our average loan size;
Average Loan Size $288,542.00
Average Origination % 2.75%
Gross Broker Compensation $7,934.91
Minus Admin Fee ($795.00)
Net Broker Compensation $7,139.91
75% Commission Split $5,354.93
Based on the scenario above, the Mortgage Originator would receive $5,354.93. The final amount is wired to the Originators bank account within 24 hours and all Mortgage Originators are paid as Independent Contractors. And that’s not all, we also pay you up to 10% of the Net Broker Compensation of any Mortgage Loan Originators that you refer to us.
We call that Sponsorship Income and it can be a very lucrative income stream for those that choose to take advantage of it.
