- Self-Generated: Paid to Loan Officer who self-sourced the loan. This is calculated when the lead source of a loan in Encompass is “Self-Generated”.
- Company Generated: Paid to Loan Officer who closed the loan that is a provided lead
by AFN. This is calculated when the lead source of a loan in
Encompass is “Company Generated”.
- Internal Referral: Paid to Loan Officer for closing a loan that is referred to them by another Loan Officer within their branch or a Loan Officer of another branch. This could not be closed
by the referring Loan Officer due to limitations, such as licensing, transition… .
This is calculated when the lead source of a loan in Encompass is set to “Internal
Referral”.
Referral Fee: This is paid to an Loan Officer who refers the loan to another
Loan Officer at their own branch or another branch. This is calculated when the lead
source of a loan in Encompass is set to “Internal Referral”.
Team Loans: The percentage % represents the percentage of the Loan Officer’s own
Self-Generated, Company Generated and Internal Referral BPS that becomes the
basis of calculating their commission. The definition of this compensation plan is the same as the main compensation plans, except they are paid to the licensed Loan Officers who worked together to fund the loan. This is paid to the main Loan Officer and the assigned team Loan Officer, depending on the lead source of the
loan. Below are the calculations:
- Team LO SG: SG bps X team % = Team LO
SG bps
- Team
LO CG: CG bps X team % = Team LO CG bps
- Team
LO IR: IR bps X team % = Team LO IR bps
Override Comp Plans: This compensation is paid based on another Loan Officer's production, and not their own. This is set up in different ways.
- It can be paid to any employee,
manager/LO/LOA/etc. just as long as an override agreement is in
place.
- This can be set up based on the role assignment of the employee on the loan,
position, relationship of an employee to another (recruiter/recruitee, sales
manager/sales team members).
- Some Loan Officer's with commission compensation plans can also
have an override compensation plan, but only get paid on the production of other Loan Officers, not on their
own.
If you need any assistance with your CompenSafe account, please email Commissions@afncorp.com with screenshots and details of your issue.