Commission Structure
Executive Loan Originator
Responsibilities
- As a mortgage loan officer, you will be responsible for creating self-generated leads and company supplied leads into loans. Determines, identifies, and analyzes appropriate sales approach and products to be most effective with each client. Collect all relevant information and ask questions to insure smooth production of loan applications. Manage pipeline of clients and follow-up with each department regarding loan status. This is an excellent commission position.
Skills Required
- We are looking for top producers or stars on the horizon that are being held down by poorly run companies. If you are looking for a great place to work, Empire Loans is a great company to grow with. We’re looking for energetic, self-starting professionals with the drive, determination, ambition, and sales experience to work as a loan originator pro for our company. As an executive loan originator, you will be responsible for generating mortgage leads and turning them into mortgage loans with little or no supervision.
Commission Structure
100% of YSP (Yield Spread Premium) and Loan Origination
Minus
Company Fees
$500 per loan (No Charge on piggybacks)
8% Tax withholding for you 4% after you have generated $96,000.00 revenue for the year
Fees required on HUD 1 that will not be deducted off YSP and Loan Origination.
$395 Loan processing fee for 1st. mortgages $95 for piggy backs
$125 Empire Loans Administrative fee (No Charge on piggybacks)
Example
$300,000 Mortgage
This is an example of a Loan officer charging 1% Loan Origination fee and making 2% on YSP.
$9000 Total Revenue
- $500 Broker fee
=$8500
- 8% Payroll tax fee $680 (goes to Uncle Sam)
$7820 goes to loan officer