However, this program is only suitable for the most experienced loan officers, requiring little support, other than processing, who can correctly price, place and structure their loan files and provide a complete loan package with all borrower documentation at loan submission. Additionally, the loan officer must be producing loans each month and have been in the business for at least two years.

All of our programs provide next day pay and 1099 compensation. Same day pay, or "Quick Pay," will charge a $200 fee to the loan officer. W-2 loan officers will change the compensation to a 70/30 split to provide for payroll taxes, Errors and Omission insurance, workman's comp, etc. 

FHA loans require a $500 additional quality control/compliance fee on each loan file closed.

Once the loan officer has demonstrated mastery of the basics of mortgage origination and production, they may choose any of the other compensation programs. Highly recommended. Commission splits seem to work only when:

1. They begin
2. They end
3. They are provided in exchange for something of value, and
4. They are defined

Regardless of initial mortgage skill level, the Gold Program identifies a specific number of loans to be completed at the lower commission splits. Once these minimum production levels have been met, the loan officer may, but is not required to advance to the Silver Program, regardless of team affiliation, independence, etc. See recruiting management for details.