Approximately how many mortgage loans can a loan officer pull in one year, and how does he make money?

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How does a loan processor get paid… what does it all depend on…? please help I am interested in this field but I want to know what mey be some obstacles in between…

3 Comments
  1. Reply
    QFM
    January 22, 2011 at 9:25 am

    Depends on what state you are in…..

    http://www.dre.ca.gov/default.htm

  2. Reply
    Nancy
    January 22, 2011 at 9:53 am

    I don’t think there is a limit to how much business in the way of number of loans per officer.

  3. Reply
    minnesotaloanguy
    January 22, 2011 at 10:31 am

    The beauty of the mortgage business, or any sales business for that matter, is the sky is the limit. I personally know people who do 12 loans a year and make $ 40,000 and know people who originate over 1000 loans a year and make over $ 1,000,000 a year. It all depends on your commitment, drive, and determination. The income a loan officer makes comes from two sources on each transaction. First, they get a portion of the origination fee. The specific amount is determined by their pay plan or if they own the company. Second, they get a commission from the lender called a Yield Spread Premium based on the interest rate they offer the client. The lender pays this because they get to collect the interest on the loan for many years to come. Processors get paid either by straight salary + bonus or fee based ($ 300/file) depending on what type of business you want to have.

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