Mortgage Training Specialist Promotion Guidelines by Interactive Financial Corporation, Orange County Branch, California region

PERSONAL PRODUCTION:

  • 25% - Start as a Loan Officer
  • 35% - 3 Personal Closed Loans or Become a Client (See #2.1 below)
  • 45% - 4 Personal Closed Loans (Total of 7 closed loans)
  • 55% - 5 Personal Closed Loans (Total of 12 closed loans)

TEAM PRODUCTION:

  • 35% - Level for Team Loans only. Personal Production remains as above.
  • 45% - 10 Team Closed Loans
  • 55% - 15 Team Closed Loans (Total of 25 closed loans)
  • 65%* - 20 Team Closed Loans (Total of 45 closed loans)
  • 70% - 20 Team Closed Loans for 2 Consecutive Months
  • 75% - 30 Team Closed Loans for 2 Consecutive Months
  • 80% - 50 Team Closed Loans for 3 Consecutive Months
  • 85% - 80 Team Closed Loans for 3 Consecutive Months
  • * Personal Production now remains at Team Production Level

INDEPENDENT AGENTS:

Agents wanting to do the minimum required by RESPA to get paid on a loan and work with a qualified Mortgage Training Specialist can receive 30% contracts.

PERSONAL PRODUCER CONTRACT:

Experienced Mortgage Professionals as Mortgage Only Loan Officers
Minimum 3+ year's mortgage experience with proof of income as follows:
  • 55% - With Proof of $50,000 in Mortgage Commissions the previous year
    • 10 closed loans in any 90 day period promotes to the 65% Level
  • 65% - With Proof of $75,000 in Mortgage Commissions the previous year
    • 20 closed loans in any Quarter promotes to the 70% Level
    • Minimum of 2 closed loans per month to maintain contract level
  • 70% - With Proof of $100,000 in Mortgage Commissions the previous yea
    • 30 closed loans in any Quarter promotes to the 75% Level
    • Minimum of 3 closed loans per month to maintain contract level
  • 75% - With Proof of $150,000 in Mortgage Commissions the previous year
    • Minimum of 5 closed loans per month to maintain contract level
Producer must work with one of our Wealth Preservation Advisors for client Financial Service products

NOTES:

  1. Definitions:
    1. New Recruit: Approved by IFC Corporate to originate in Home state
    2. Closed Loan: File cleared by Compliance Department for Payroll Disbursement
  2. Three ways to be promoted:
    1. Become a Client (Mortgage and Insurance through Recruiter)
    2. Personal Production – See Above
    3. Team Production – See Above
    4. No more than 2/3 of the production may come from any one Direct Recruits team
  3. Management Training Bonus: 5% - 3% - 3% - 2% - 2%
    1. Manager overrides Team Leader reaching same Production Level as Manager
      1. 5% on Team Leaders Level 1
      2. 3% on Team Leaders Level 2
      3. 3% on Team Leaders Level 3
      4. 2% on Team Leaders Level 4
      5. 2% on Team Leaders Level 5
  4. Commissions are calculated on 80% of Origination Fees plus YSP (Commissionable Net Profit).
    1. See Exhibit A – Commission Schedule for more information
  5. Guidelines subject to change at the sole discretion of the Managing Director
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