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Discussions tagged with 'MLO Residual Income From Mortgage Loans Closed'
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I have been hearing from various mortgage loan originators and mortgage net branch owners that NEXA Lending was thinking about compensating their mortgage loan originators residual income from the mortgage servicer. Mortgage servicers make revenue for servicing closed loans. Part of the revenue the servicer makers will be compensated to mortgage loan originators who have closed the home loan being serviced. I think this is a genius idea and MLOs will be like insurance agents where they get consistent residual income during good and bad times providing financial security. Can you please tell us an in-depth overview on how this works and is this program only for NEXA Lending or does it apply to NEXA Lending’s competitors and other mortgage brokers, correspondent lenders, and direct lenders. Thank you in advance.
finance.yahoo.com
NEXA Lending Advances Servicing-Aligned Income Initiative for Loan Originators
NEXA Lending, one of the nation's largest independent mortgage brokerages, today announced the development of a new initiative designed to expand how loan originators may participate in the long-term value of the loans they help originate—through a compliant, structured approach … Continue reading
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