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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

SENIOR LOAN OFFICER

TEAM LEADER

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
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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
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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
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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

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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
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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
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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
     
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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
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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
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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
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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

Good luck on your Sales journey here at Society Mortgage!

Sales Department Application

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