Loan officers earn income when the loan funds.
US Mortgage lenders LLC Lender paid compensation plans call for 2.75% paid on each loan closing.
US Mortgage Lenders will deduct 10% of the gross payout +plus a $200 qualify control fee on each and every closed loan.
Example 200,000 loan amount times 2.75 Lender paid comp = $5500 Total Commission.
US Mortgage Lenders will collect 10% or $500+ $200 qualify control fee totaling $700 on this example.
The Contractor loan officer would earn 4800 on this example along.