SALES DEPARTMENT OPPORTUNITIES
SUMMARY OF WHAT YOU NEED TO KNOW AND ACHIEVE
SALES TIERS
Here at Society Mortgage, we strive to provide an exciting work environment with plenty of opportunities for advancement and refinement of loan and leadership knowledge. Things are always evolving but below is a breakdown of the various tiers and the list of accompanying requirements and benefits.
LOAN OFFICER
- Loan officer |
- Loan officer ||
- Loan officer |||
SENIOR LOAN OFFICER
- Senior Loan Officer I
- Senior Loan Officer II
- Senior Loan Officer III
TEAM LEADER
- Team Lead I
- Team Lead II
- Team Lead III
Loan Officer |
To reach this milestone:
- Must have at least 4 state licenses approved
- Must be assigned to a Team Leader by HR
Compensation:
- $2,500
- After 4 months, you will be
off of this pay scale and move to a commission-based salary of .85 bps of your total closed loan volume - 20 bps per referral
Other Perks & Notes
- Additional $100 per purchase contract
- Max 6 months in this position allowed
Loan Officer ||
To reach this milestone:
- Must have 1.5M closed loans over 3 months
Compensation:
- $4,000 Floor
- 85 bps
- 20 bps per referral
Other Perks & Notes
- With US-based Loan Coordinator
Loan Officer |||
To reach this milestone:
- Must have 2M closed loans over 3 months
Compensation:
- $4,000 Floor
- 105 bps
- 20 bps per referral
Other Perks & Notes
- With US-based Loan Coordinator
EMPLOYEE CAREER PATH
Once you reach the next milestone of 2.5M over 3 months, you will then have the option to choose which path to take:
Path 1
SENIOR LOAN OFFICER ROLE
Path 2
TEAM LEADER ROLE
Senior Loan Officer |
To reach this milestone:
- Must have 2.5M closed loans over 3 months
Compensation:
- $5,000 Floor
- 105 bps
- 20 bps per referral
Other Perks & Notes
- With US-based Loan Coordinator
Senior Loan Officer ||
To reach this milestone:
- Must have 4M closed loans over 3 months
Compensation:
- $6,000 Floor
- 105 bps
- 20 bps per referral
Other Perks & Notes
- With US-based Loan Coordinator and dedicated LOA
Senior Loan Officer |||
To reach this milestone:
- Must have 5M closed loans over 3 months
Compensation:
- $8,000 Floor
- 125 bps
- 20 bps per referral
Other Perks & Notes
- With US-based Loan Coordinator and dedicated LOA
Team Lead |
To reach this milestone:
- You must justify why you are fit with the role in any way you would like to express: written, video or presentation
- You must also be a Sr LO before you can be eligible to this.
Compensation:
- $6,000 Floor
- 105 bps plus 20 bps per team member
20 bps per referral
Other Perks & Notes
- Maximum of 2 trainees per 60- day time period
- You will have your dedicated LOA
Team Lead ||
To reach this milestone:
- You must have 5M closed loans over 3 months just for your team (not your production included)
- The following month, you are restricted to 1M
Compensation:
- $8,000 Floor
- 105 bps plus 25 bps per Team Member
- 20 bps per referral
Other Perks & Notes
- You will have a minimum of 4 Team Members
- You will keep your LOAs & cherry-pick your leads
- You will be provided an AMEX corporate card with $500 monthly expenses
Team Lead |||
To reach this milestone:
- You must have 15M closed loans over 3 months with all Team Members and Sub Team Members
Compensation:
- $12,000 Floor
- 25 bps per Team Member
- 10 bps per Sub Team Member
20 bps per referral
Other Perks & Notes
- $700 Company Paid Car
- $1000 AMEX Corporate Platinum Card Expense
- No more loan originations allowed
- Move to corporate level profit sharing
SUMMARY
TIER | TO REACH THIS MILESTONE | FLOOR PAY & BPS | OTHER PERKS |
|---|---|---|---|
LOAN OFFICER I | With 4 state licenses approved | $2,500 with 85 bps & additional 20 bps per referral | $100 per purchase contract |
LOAN OFFICER II
| 1.5M closed loans over 3 months | $4,000 with 85 bps & additional 20 bps per referral | US-based LC |
LOAN OFFICER III
| 2M closed loans over 3 months | $4,000 with 105 bps & additional 20 bps per referral | US-based LC |
SR. LOAN OFFICER I | 2.5M closed loans over 3 months | $5,000 with 105 bps & additional 20 bps per referral | US-based LC |
SR. LOAN OFFICER II | 4M closed loans over 3 months | $6,000 with 105 bps & additional 20 bps per referral | Dedicated LOA & US-based LC |
SR. LOAN OFFICER III | 5M closed loans over 3 months | $8,000 with 125 bps & additional 20 bps per referral | Dedicated LOA & US-based LC |
TEAM LEADER I | Justify that you are fit for the role; must be a Senior LO | $6,000 with 105 bps plus 20 bps per team member & additional 20 bps per referral | Dedicated LOA |
TEAM LEADER II | 5M closed loans over 3 months just for your team | $8,000 with 105 bps plus 25 bps per team member & additional 20 bps per referral | AMEX Corporate Card with $500 monthly expense |
TEAM LEADER III | 15M closed loans over 3 months with all team & sub team members | $12,000 with 25 bps per team member, 10 bps per sub team member & additional 20 bps per referral | Company paid car at $700 & AMEX Corporate Platinum Card with $1000 monthly expense Corporate level profit sharing |