.jpg){kind=logo}
Mortgage Branch Manager and Loan Officer Compensation is About Risk, Reward, and Control
Most mortgage sales professionals are paid commissions based on a number of basis points of the loan amount they originate. Over 50% of mortgage professionals earn between 75 and 150 basis points. So what determines what basis points loan officers or producing managers earn and how do you increase that number? The answer to what determines the basis points earned is that it depends on the company you work for and their business model. The biggest differences in companies busi
Mortgage Sales Managers – Be Careful of Non-solicitation Clauses in Your Employment Agreements
When you are considering making a career change, how thoroughly do you review your offer and employment agreement? Do you just focus on the compensation section and believe the rest is boilerplate? Well, focusing solely on compensation can be a poor career decision. While it isn’t common to look at the end of your employment before you start, the reality is, you are in the mortgage industry and change regularly happens. If you don’t understand your employment agreement, you c
Compensation Plans, Culture, and Retaining Exceptional Mortgage Managers and Loan Officers
Great mortgage companies are built with exceptional people! Attracting and retaining exceptional branch managers and loan officers in the competitive mortgage industry is challenging. These days, many companies are touting having a great culture, or set of beliefs, values, goals, attitudes, principles, and behaviors for driving job satisfaction to grow their business. When you find the “right” culture for your business and career goals, you will thrive. Select the “wrong” one
