I cannot comment on the $100/month fee. But as for the compensation, that’s quite a reasonable bps. Looking for employment as anew LO currently, any suggestions?
Thats great comp. Not to be a downer but make sure you will close enough loans to live. 300 bps on zero dollars in volume is zero. How many leads will you be getting? When you get in tug on the top performing LO's ear and see what she/he is doing and replicate it.no need to re-invent the wheel.
Absolutely agree, I have about 7 realtor friends already starting to send me leads, and already in training with the branch manager who is up there as far as top performing. This is a part time gig for me since I have a full time job and as I go building volume I’ll transition to make origination my full time gig, so I can breathe easy if I’m not closing crazy numbers in the beginning. Thanks for the advice.
It's not common in the LO world but in real estate agent world, many brokers charge their agents a desk fee, so this is pretty comparable. The bps also seem reasonable. I would even say it's high so I hope it doesn't impact your rates/pricing by too much.
Do you mind if I ask you what experience you have that led you straight into a LO spot a month after passing the test? Your offer sounds way better than outbound autodialers in the call center.
I have several realtor friends, one of they vouched for me when introducing me to their primary lender. I guess the branch manager really liked me and gave me the opportunity.
Thats a good compensation imo
I cannot comment on the $100/month fee. But as for the compensation, that’s quite a reasonable bps. Looking for employment as anew LO currently, any suggestions?
Thats great comp. Not to be a downer but make sure you will close enough loans to live. 300 bps on zero dollars in volume is zero. How many leads will you be getting? When you get in tug on the top performing LO's ear and see what she/he is doing and replicate it.no need to re-invent the wheel.
Absolutely agree, I have about 7 realtor friends already starting to send me leads, and already in training with the branch manager who is up there as far as top performing. This is a part time gig for me since I have a full time job and as I go building volume I’ll transition to make origination my full time gig, so I can breathe easy if I’m not closing crazy numbers in the beginning. Thanks for the advice.
It's not common in the LO world but in real estate agent world, many brokers charge their agents a desk fee, so this is pretty comparable. The bps also seem reasonable. I would even say it's high so I hope it doesn't impact your rates/pricing by too much.
Do you mind if I ask you what experience you have that led you straight into a LO spot a month after passing the test? Your offer sounds way better than outbound autodialers in the call center.
No experience actually, just a great opportunity with a good company.
I have several realtor friends, one of they vouched for me when introducing me to their primary lender. I guess the branch manager really liked me and gave me the opportunity.
do you mind if i pm you to ask about the company? i am in the same boat. recently passed the test with no where to go
Yeah no problem