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Loan Officer Revenue Share
NEXA Mortgage has revenue share which is residual income for loan officers and employees for NEXA Mortgage. Residual income is an override of every loan officer they recruit who does production. The residual income is through revenue share of loan officers monthly revenue and it goes down three levels. CEO Mike Kortas does a Zoom webinar live every Thursdays at 11 am Arizona time. It is a live Q and A for all loan officers who are interested in joining NEXA Mortgage. I have been with NEXA Mortgage going on two years come February 24th, 2024 and I can attest that CEO Mike Kortas is the real deal. We have a rock solid Chief Executive Officer and with that, we have a rock solid foundation. It is hands down better to take a few steps backwards to go forwards and make sure whatever you do, make sure you have a solid foundation. Anything with a weak foundation will not last. You can build a multi-million dollar home in a cracked foundation and it is not if it will crack but when it will collapse. I have been in the mortgage industry since 2012 and was a real estate investor and developer since 1998 and I have never met so many scumbags in any industry like the mortgage industry. Most CEOs of mortgage companies will tell you one thing and not honor their word in a matter of months. CEO Kortas has honored every single word he has said or promised. Never in my career have I ever met such a man of integrity, honor, and fairness like CEO Michael Kortas. With a strong foundation, you can rest assured you have the keys to your destiny in the mortgage industry.
https://gustancho.com/mlo-revenue-share-residual-income/
gustancho.com
MLO Revenue Share Residual Income For Loan Officers
Loan officers at Gustan Cho Associates will have the opportunity to participate in the MLO Revenue Share Residual Income, up to $3 million down.
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4 Replies
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Nexa Mortgage offers a Revenue Share Program that serves as a significant component of their compensation structure for Mortgage Loan Originators (MLOs). This program allows MLOs to earn additional passive income by building a team of loan officers within the company. Here’s a breakdown of how it works:
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Revenue Share Depth: The program is structured to go three levels deep. This means you can earn from the commissions of the loan officers you recruit, as well as from those recruited by your recruits, spreading down through three tiers.
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Recruitment Targets: To benefit from the Revenue Share Program, you would typically aim to recruit a certain number of producing loan officers. For instance, some goals might include recruiting ten producing loan officers within the first 45 days and 60 within 120 days.
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Earnings from Downline: As you build your downline, you can earn a portion of their commissions, which can significantly boost your earnings. This setup allows you to grow a team and benefit from their production without the management overhead typically associated with running a brokerage.
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Exit Strategy: One unique feature of Nexa’s Revenue Share Program is that it provides an exit strategy where the revenue share is retained indefinitely and can even be willed to your family, ensuring a legacy of income beyond your active working years.
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Support and Training: Nexa supports this initiative with training programs like the NEXA Academy, which helps newly licensed loan officers build their careers within the company, potentially enhancing your revenue share as these new recruits start producing.
Overall, Nexa’s Revenue Share Program is designed to incentivize and reward the growth and success of its loan officers, not just through individual loan completions but by fostering a collaborative and expansive business development approach (Gustan Cho Associates Mortgage Brokers) (GCA Forums).
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The Loan Officer Revenue Share Compensation Program at NEXA Mortgage works as follows:
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Base Commission: The first layer of NEXA Mortgage’s compensation plan is the Base Commission. It starts with selecting a margin applied to your lender-paid compensation deals. It is recommended to choose the 275 basis points compensation plan so the mortgage loan officer at NEXA Mortgage makes 220 basis points.
- Bonus Commission: NEXA Mortgage rewards hard work and dedication with the Bonus Commission. Once the mortgage loan originator reaches the $3 million in funded loans per month, the MLO will receive 100% commission on everything above and beyond the $3 million dollar in volume threshold.
- Partnership Compensation Plan: When a NEXA Mortgage loan officer introduced 10 originators producing at NEXA, you become eligible for the Partnership Compensation Plan
- Revenue Share Program: NEXA Mortgage offers a Revenue Share Program where you can grow your team nationwide without the management overhead. At NEXA Mortgage, by introducing and referring other mortgage loan originators to NEXA, the loan officer can earn a portion of the new loan officer’s commissions. By getting a percentage of the referring new loan officer’s commission, it gives the referring loan officer a powerful source of passive residual income. Loan officers can earn up to 50 basis points from the production of their recruits, upt to three levels deep from the revenue share residual income compensation plan. The loan officer’s revenue share is fully vested after three years.
- Daily Payday: NEXA Mortgage pays loan officers daily unlike the competition where payday is twice a month. Loan officers at NEXA Mortgage get paid when the loan closes and are funded.
Please note that this information is based on the latest available data and may have changed. For the most accurate and up-to-date information, please contact NEXA Mortgage Gustan Cho Associates.
Gustan Cho NMLS 873293
Branch Manager | NEXA Mortgage, LLC.
National Managing Director | Gustan Cho Associates
Cell: 262-627-1965 Text for a Faster Response
https://non-qmmortgagebrokers.com/careers/
non-qmmortgagebrokers.com
GCA Mortgage Group, Inc. has loan officer careers available for newly licensed loan officers, experienced loan officers, and branch managers
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Choosing the right mortgage company for loan officers is more important than any licensed mortgage loan originator realizes. Every time a loan officer moves from one mortgage company to another, there’s a three to six months of downtime. Here’s a guide to choosing the best mortgage company for loan officers I written that helped many loan officers from making a mistake.
https://gustancho.com/choosing-the-right-mortgage-company/
gustancho.com
Choosing The Right Mortgage Company For Loan Officers
Choosing the right mortgage company for loan officers is so very important. There are now hiring experienced remote loan officers nationwide.
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No two mortgage companies have the same credit and income guidelines on government and conventional loans even though the loan programs are FHA, VA, USDA, and Conventional loans. Every mortgage company need to make sure borrowers meet the minimum agency mortgage guidelines of HUD for FHA loans, the guidelines of the Veterans Administration on VA loans, the guidelines of the United States Department of Agriculture Rural Development on USDA LOANS, and FANNIE MAE or FREDDIE MAC guidelines on conventional loans. However, mortgage companies can implement higher lending standards above and beyond of HUD, VA. USDA. FANNIE MAE, and FREDDIE MAC called lender overlays. It is important loan officers doing there due diligence on a mortgage company to work for to take a deep look at the lender overlays before accepting rhe letter of employment and signing the employment offer letter . What good is a great employment offer letter when you cannot close any loans due to the many overlays a lender has. Over 80% of our clients at Gustan Cho Associates are folks who could not qualify at other lenders due to the lender overlays. Please read the attached guide on choosing the best mortgage lenders strict overlays.
https://fhabadcreditlenders.com/careers/
fhabadcreditlenders.com
Careers - FHA Bad Credit Lenders
Careers - FHA Bad Credit Lenders has opportunities for new loan officers, experienced MLOs, branch managers, and dually licensed realtor/MLO