Contractor Juan
ContractorForum Replies Created
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From my understanding, the Realtor that is the buyers agent will represent the home buyer and will refer the home buyer to their referral partner mortgage loan officer. However, the referring Realtor- MLO will be the loan officer of record and the MLO partner who is doing all the work will be the LOAN OFFICER ASSISTANT (LOA).
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Has there ever been a serious attempt to amend the Constitution regarding pardons?
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Were any of these pardons later overturned or legally challenged successfully?
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Can you provide examples of past presidential pardons that faced similar challenges?
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What specific legal challenges are expected regarding Biden’s pardons?
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Could you elaborate on the “auto-pen” argument’s legal basis?
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What legal challenges are expected regarding Biden’s pardons?
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Here’s a formatted Q&A based on your information: Q & A on Commission Rates for Commercial Loan OriginatorsWhat is the commission rate for a self-gen commercial loan originator?
- The commission for a self-gen commercial loan originator is 50% of broker revenue from funded loans.
What is the commission rate for a Com-Gen Commercial Loan Originator?
- The commission for a Com-Gen Commercial Loan Originator is 35% of broker revenue from funded loans.
What is the commission rate for an internal referral?
- The commission for an internal referral is 15% of broker revenue from funded loans.
Is there a cap on commission earnings for commercial loan originators?
- No, there are no caps on commission earnings for Commercial Loan Originators.
What is the commission rate for a commercial loan processor?
- The commission for a Commercial Loan Processor is 10% of broker revenue from funded loans.
What is the monthly cap on commission earnings for a commercial loan processor?
- The monthly cap on commission earnings for a commercial loan processor is $7,000.
What is the production bonus for a commercial loan processor?
- More than the Commission cap of $7,000, a Commercial Loan Processor is compensated at 5% of broker revenue for funded loans.
What is the commission rate for a Closer/Funder/Recorder?
- A Closer/Funder/Recorder gets paid at a rate of 5% of broker revenue from funded loans.
What is the production bonus for a Closer/Funder/Recorder?
- If a Closer, Funder, or recorder surpasses the commission cap of $7,000, they will receive 2.5% of broker revenue on funded loans.
What is the commission rate for a referrer?
- A referrer is paid 15% of broker revenue up to a maximum of $1,000 per file.
Can you make it more helpful as a comprehensive overview guide detailed in the format you suggested?
Here is a more comprehensive overview guide on commission rates for these positions:
Comprehensive Overview of Commission Rates for These Positions
- This guide includes more information about commission rates and the structure for commercial loan originators, processors, and related positions in the industry.
Self-Gen Commercial Loan Originator
Commission Rate: 50% of broker revenue from funded loans.
Self-Gen Commercial Loan Originator
Overview:
- Self-gen commercial loan originators generate their leads and loans.
- Due to initiative and performance, they earn a higher commission rate.
Com-Gen Commercial Loan Originator
Commission Rate: 35% of broker revenue from funded loans.
Overview:
- Com-Gen (Company-Generated) originators are given leads by the company.
- They receive a commission for converting those leads to funded loans.
Internal Referrals
Commission Rate:
15% of broker revenue from funded loans.
Overview:
- Internal referrals consist of leads sourced within the organization.
- This commission motivates employees to participate and actively refer potential clients.
Commission caps for Commercial Loan Originators
Overview:
- There are no commission earnings caps for Commercial Loan Originators.
- They can earn whatever they want based on their performance, leading to a high-performance culture.
Commercial Loan Processor
Commission Rate:
10% of broker revenue from funded loans.
Overview:
- Commercial loan processors oversee documentation and compliance with the necessary regulations, which assist in closing and funding loans and sustaining the origination workflow.
- Their commission is because of the contribution made towards closing the loans.
Monthly Commission Cap for Commercial Loan Processor
Cap Amount:
$7,000.
Overview:
- This is the maximum monthly commission a processor can earn.
- It rewards dependability, while stability encourages consistency.
Production Bonus for Commercial Loan Processors
Bonus Rate:
5 percent of broker revenue for funded loans that exceed the $7,000 cap.
Overview:
This bonus encourages greater productivity among employees who exceed the standard cap by rewarding additional effort and motivating productivity enhancement and value addition to the firm.
Closer/Funder/Recorder
Commission Rate:
5 percent of broker revenue from funded loans.
Overview:
- The closers, funders, and recorders are responsible for finalizing all the loans.
- Their commission percentage demonstrates their significance in the proper and efficient funding of loans.
Production Bonus for Closer/Funder/Recorder
Bonus Rate:
2.5 percent of broker revenue for funded loans over the $7,000 cap.
Overview:
This bonus reward encourages efficient and effective funding and closing tasks, optimizes productivity, and rewards exceptional performance with bonuses.
Referrer
Commission Rate:
15 percent of broker revenue capped at one thousand dollars per file.
Overview:
- Referrers direct potential customers to the organization.
- This commission plan compensates them for contributing to developing business while controlling spending with a set limit.
This guide explains the commission payment policies and motivation plans for different commercial loan origination flows.
Participants:
- Every function is structured to enhance and sustain the business’s performance and growth.
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What specific government programs might be most affected by these layoffs?