We appreciate your referral

Loan Factory appreciates your referrals

We will send you $200 for referring a new/inexperienced loan officer and $500 for an experienced loan officer

GENERAL LOAN OFFICER RECRUITING - FLAT FEE

When a consumer of another loan officer refers to a loan officer to Loan Factory, Inc. Loan Factory will pay a flat referral fee of:

  • $500.00 for an experienced loan officer
  • $200.00 for a brand-new loan officer

1) Experienced Loan Officer is a loan officer that has closed a minimum of at least 3 verified residential loans in the last 12 calendar months. Loan Factory, Inc. will use Modex software to verify and validate that the experienced loan officer has in fact closed 3 transactions.

2) New Loan Officer is a loan officer that has closed a minimum of at least 3 verified residential loans in the last 12 calendar months. Loan Factory, Inc. will use Modex software to verify and validate the New Loan Officer has not in fact closed 3 transactions.

Loan Officer Approval Requirements

The referred loan officer will be required to meet all prerequisites of Loan Factory, Inc. for the referral to be completed.

  • Satisfactory Background Check
  • Satisfactory Credit Check
  • Satisfactory Signed and Completed Agreement
  • Satisfactory NMLS ID Approval
  • Satisfactory NMLS ID Transfer to Loan Factory, Inc

Compensation

Upon Loan Factory, Inc. Verifications & Compensation will be paid on the 15th of the month following the loan officer's official company approval.

I. Example Suzanne Smith refers David Mulberry to Loan Factory, Inc. on March 3rd, 2023. It is verified he is an experienced Loan Officer with Modex software and he has closed more than the minimum of 3 transactions in the past 12 months. He completes all approval requirements on March 20, 2023. Suzanne will receive a check for $500.00 on April 15th.

Loan Factory, Inc. will pay each referrer as an independent contractor and the referral fee will be subject to applicable local and federal taxes.

Eligibility

Anyone who knows and refers a Loan Officer is eligible to receive a referral fee upon Loan Officer Approval.

We would like to know your email address so that we can show our appreciation to you