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Great informative article @chadbush Chad. Thanks for sharing.
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Former President Donald Trump dodges a bullet yesterday but the economy may not be able to. Listen to Peter Schiff Sunday Evening podcast.
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Joe Biden addresses yesterday’s former President Donald Trump assassination attempt.
https://www.youtube.com/live/WH8SCngfaVI?si=w0TVD9zs4QLnITf8
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Here’s the latest update on the assassination attempt on Former President Donald Trump yesterday in Butler Pennsylvania. The shooter was killed. One Trump supporter, a 50 year old fire department Captain died at the scene. Two other Trump supporters got shot and are hospitalized in serious condition. No further information is known at this time about the victims. Jonathan Willis is a police department SWAT sniper who had the shooter in sight with his rifle ready to shoot to kill for three minutes. Jonathan Willis could have taken the shooter but was ordered not to shoot and kill the shooter by upper brass of the United States Secret Service
There is more to this story on the assassination attempt. Is the Secret Service and the FBI behind the assassination attempt in the assassination attempt of Former President Donald Trump? Remember that the truth always comes out. Is the Biden Administration involved?
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Dementia Joe Biden needs to stop being in a state of denial and enjoy the little time he has left on Earth 🌎.
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George Clooney joins other Hollywood elites in retracting his endorsement of Joe Biden.
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Democrats are turning in Joe Biden due to Biden’s deteriorating dementia and over 25 Democrat Congressmen are demanding Joe Biden to step down.
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Joe Biden needs help. Listen to him. Biden is claiming he’s the man who put Russian President Putin down. Dementia Joe Biden has lost it.
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Compensation systems can considerably differ from one organization to another and change over time. In order to get precise and current information about NEXA Mortgage’s residual revenue share program, I suggest reaching out directly through their official website or HR department and talking to a NMLS licensed loan originator currently working there as well as looking into any compensation information available in NEXA’s job postings or recruitment materials which are made public. There are many different components of mortgage companies pay structures such as base salary, commissions, bonuses and various incentives among others. For instance; it is common that residual revenue sharing programs allow for continuous payment of originators’ loans even after they have been closed initially. But what exactly happens at NEXA Mortgage would need verification from somewhere credible so this is just general knowledge about common practices in the industry related to compensation for mortgage loan officers(MLOs).
Base Salary: A few MLOs may receive a base salary but it is not offered by all lenders universally hence its amount may vary greatly according to ones level of experience as well as the company involved.
Commission: These are generally known as core parts of most MLO compensation plans where they usually take up percentages calculated against either loan amounts or total revenues generated from loans though this percentage could be different depending on factors like types of loans being dealt with among other things.
Basis Points (BPS): Sometimes commissions are expressed using basis points which show how much should be given for each 0.01% increase in loan size.Therefore if we had an example that reads 100 BPS on a $200K then we can easily calculate $2k.
Tiered Commission Structures: In some instances higher commission rates might be given by lenders when certain production thresholds have been achieved by loan officers within their employ.
Bonuses: May apply during certain periods e.g when new customers come in or specific sales targets are met etc.
Revenue Share: This is just like what you said about NEXA but here MLOs earn a percentage of company’s revenue from the loans they originate which is sometimes even beyond closing dates.
Override: When junior officers are being supervised or mentored by senior ones, there could be override commissions awarded to them based on production.
Benefits: Even though not directly considered as part of remuneration packages these benefits such as health insurance plans, retirement schemes and paid leave days off etc still play significant roles in an employee’s life.
Draws: Some companies may provide draws against future commission earnings thus ensuring that loan officers have more consistent income streams however this has to be repaid back out of subsequent paychecks obtained later on.
Residual Income: Few lenders offer payments over lifetime of loans for example.
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