- talking to the client about
the loan products,
- locking in an interest rate,
- helping the client fill out
loan application and the loan packet,
- collecting all back up
information related to the applicant (e.g. pay stubs, w-2, bank
statements, and all other information required to process the loan), and
- forwarding the loan packet to our Loan Process Center.
You will continue to be the point of contact for
the customer throughout the loan process. Remember, you do not have to
perform any of the back office loan processing duties. We take care of
processing, underwriting, and closing the loan. YOU ARE ONLY RESPONSIBLE FOR THE CLIENT FACING PART OF THE
TRANSACTION
* The 50% Plan is available after successful
completion of an initial probation period and proven ability to handle the
loan origination process without the assistance of a more experienced loan
officer.
Yearly Commission Schedule
| Transaction
Volume |
Your
Commission Split |
Your
Cumulative Income |
| All Sales - Referral
Only |
25% |
unlimited |
| All Sales - Loan
Facilitator |
50% |
unlimited |
The examples below illustrates just how dramatically your income can
increase by becoming a Property Crossing Loan Officer.
| Mortgage
Transaction Volume |
What
You Make Now On Mortgage Commissions |
Your
Commission On The 25% Plan |
Your
Commission On The 50% Plan |
| $1,000,000 |
$0 |
$5,000 |
$10,000 |
| $10,000,000 |
$0 |
$50,000 |
$100,000 |
| $20,000,000 |
$0 |
$100,000 |
$200,000 |
*There is no 'typical' income per mortgage transaction. Yield Spread
Premiums, Service Release Premiums, Origination Points, and Fees can all vary.
For these examples, we are assuming that we will
make a 2% commission. The commissions that we make on each loan may be
higher or lower than those mentioned above
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