LO comp refresher My cat Myrtle often catches her own protein. Not that this is a great lead in to MLOs who catch their own leads, but occasionally the question comes up, “Are LOs who have leads supplied to them be paid differently than originators who find their own?”
Jim Cameron, Senior Partner at the STRATMOR Group, replied, “The quick answer is yes, absolutely. I think of the LO compensation landscape as a continuum based on the extent to which originators generate their own leads. The highest pay goes to originators who completely generate their own leads from third party referral sources like Realtors, financial advisors, personal contacts, etc. The classic example is the Independent Mortgage Banker (IMB) loan officer. The next level down in compensation is for bank affiliated LOs who rely in whole or in part on referrals from the bank. While they may generate a percentage of their own leads, a meaningful amount of their business comes from bank referrals.
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