How much money does a commercial loan officer make

Insight Lab. You must renew your license every year. As the market improves, businesses are more likely to borrow money for expansion, plant upgrades and other projects, leading to more opportunities for loan officers. Data Analyst. Experience 4 — 7. Sales Associate.

How many loans does a loan officer close?

I have been commerdial a report on careers and I need assistance on a countrywide third year loan officer. How much do they make base and what about commission? Have they been doing well since they got the 11 billion loan? Please give me as much information, mainly about current salary, as possible. Thank you so .

Where can a Loan Officer earn more?

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I have been doing a report on careers and I how much money does a commercial loan officer make assistance on a countrywide third year loan officer. How much do they make base and what about commission? Have they been doing well since they got the 11 billion loan? Please give me as much information, mainly about current salary, as possible. Thank you so. Although these are not factual numbers In addition, they have a dollar base every month. And countrywide is not doing so well that is why they got bought.

Their CEO got paid million dollars Eddie K is mostly correct. He is talking I think about a sub-LO really, an internal originator. For a true street originator, which is the true form of an LO, the plan rarely involves a base.

There may be a draw or even a base negotiated for individual situations, but it’s rare. The basis points thing is correct. Usually, they start out somewhere around 50 BPs and can make up to BPs. That number has diminished significantly. So, they’re not doing well, but it has nothing to do with the company.

The whole industry is awful right. Now, let me clarify a couple things. When I say average, I’m probably talking about pretty good LOs.

When I talked to managers, I was talking to the best managers. They usually had very good LOs. I didn’t waste time with the losers. Secondly, a LO is a special breed. They can make it through the hard times like now and can handle the stress of being on commission. As a side note, Countrywide always had a great training program, but had a record for having some of the highest turnover in the business. It’d be a great place to start your career, but a better place to leave eventually It was used for the down payment.

It doesn’t matter if it was a straight loan or line of credit at all. You borrowed it, so you owe it. I don’t mean for my answer to sound harsh at all. I’m just stating the facts. I really think you have this all wrong. If the money had not been used for the down payment, you would not have gotten the house. You can tell this by looking at your conventional loan. The loan they got was to fund loans, not pay their loan officers.

I’m sure they make a decent base salary with small commission incentives. Don’t know but CW was just bought by Bank of America. They probably don’t make a lot now that the market has gone. Trending News. SAG Awards See what the stars wore. Singer falls silent, dies during live performance.

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My 1 target was branch managers at the largest mortgage banking [retail] originator in the nation Source s : Realtor with mortgage background. Chicago, IL www. Penny Lv 4. How do you think about the answers? You can sign in to vote the answer. That’s a good question, I was wondering the same thing. Carolynn Lv 4. Still have questions?

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Business Analysis. The U. View as graph View as table. Sign in. Direct Reports Performance Other. Understanding Compliance Officers A compliance officer ensures a company complies with its outside regulatory requirements and internal policies. Chicago, Illinois. Loan products that may involve a loan officer can include personal loans, mortgage loans and lines of credit. Compared to maek average Modernizing Comp. Get the latest market price for benchmark jobs and jobs in your industry. Is Loan Officer, Commercial your job title? Experience This salary range, however, only accounts for commercial lenders with one to three years of experience. Career Advice. How much do similar professions get paid? Education Bachelors. Career Hw.