Team Policy Overview
TeamPoliciesPage.at
At Loan Factory, Teams bring experienced loan officers together to share expertise, collaborate effectively, and deliver exceptional results. Joining a Team gives you the structure, support, and opportunities needed to take your career to the next level.
On this page
Team Structure
TeamPoliciesPage.teamWork
TeamPoliciesPage.collaborate_as_team
Requirements
- TeamPoliciesPage.team_leader_req_experience
- TeamPoliciesPage.team_leader_req_interview
- TeamPoliciesPage.team_leader_req_headcount
- TeamPoliciesPage.team_leader_req_primary_role
- TeamPoliciesPage.team_leader_req_mlo_license
- TeamPoliciesPage.team_leader_req_state_compliance
TeamPoliciesPage.joining_a_team
- TeamPoliciesPage.joining_team.team_selection.title
TeamPoliciesPage.joining_team.team_selection.desc
- TeamPoliciesPage.joining_team.consultation.title
TeamPoliciesPage.joining_team.consultation.desc
- TeamPoliciesPage.joining_team.agreement.title
TeamPoliciesPage.joining_team.agreement.desc
TeamPoliciesPage.commission_structure
Commission Overdrive
W-2 and 1099 Team Leaders may earn a commission override from their Team Members of up to 50% of the commission, based on mutual agreement.
Inexperienced Loan Officers
Inexperienced Loan Officers must split a minimum of 30% of their commission with the Team Leader in order to join a Team and be paid as Experienced. Once they are officially changed to Experienced (after closing 5 loans total), this minimum split requirement will no longer apply.
Automated Process
The system automatically adds the Team Leader to the 1003 in a dedicated slot and generates commission requests for the override amount.
Commission Payment
When a Team Member requests commission for a closed loan, the commission override is deducted from the commission after Loan Factory fees have been applied. The commission override will be paid to the Team Leader
Commission Payout Formula (Example)
- Net Commission = Total Commission – Loan Factory Fees
- Team Leader Payout = Net Commission × Team Leader’s Split
- Team Member Payout = Net Commission × Team Member’s Split
Split Modifications
The agreed-upon commission split may only be changed in one of the following ways:
- File-by-File Adjustment: The Team Leader may adjust the split on an individual file within the 1003, if necessary.
- Permanent Adjustment: A permanent change to the commission split for all future files must be requested by submitting a ticket to LO Development.
TeamPoliciesPage.team_leader_responsibilities
- TeamPoliciesPage.weekly_meetings
- TeamPoliciesPage.monthly_leader_meetings
- TeamPoliciesPage.policy_legal_ethical
TeamPoliciesPage.team_restriction
TeamPoliciesPage.minimum_requirement_note
TeamPoliciesPage.termination.title
TeamPoliciesPage.termination.desc
- TeamPoliciesPage.termination.bullets.originated_while_effective
- TeamPoliciesPage.termination.bullets.leader_assisted
TeamPoliciesPage.termination.team_dissolution.title
TeamPoliciesPage.termination.team_dissolution.desc
TeamPoliciesPage.sharing_settings
TeamPoliciesPage.if_yes.title
- TeamPoliciesPage.if_yes.bullets.transactions_visible
- TeamPoliciesPage.if_yes.bullets.members_can_see
TeamPoliciesPage.if_no.title
- TeamPoliciesPage.if_no.bullets.transactions_visible
- TeamPoliciesPage.if_no.bullets.only_team_lead
TeamPoliciesPage.sharing_note