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#2158512 - 12/27/17 03:19 PM Incent more for CRA-qualified loans?
Tarhe Offline
Platinum Poster

Registered: 11/15/06
Posts: 813
Loc: California
Under our LO comp plan, LOs are eligible to split a quarterly incentive pool based on meeting minimum production goals (i.e., the total dollar volume of mortgage loans.)

We also have a minimum incentive of $500/loan or $800/CRA-qualified loan. Are there any implications for paying more on CRA-qualified loans?

For “quality control” measures, we have satisfactory loan file quality, satisfactory audit and exam results, no unsaleable or repurchased loans (due to compliance errors), following compliance rules, completing training, etc. What other topics do you measure in LO performance for compensation factors?

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Loan Originator Compensation Rule
#2158545 - 12/28/17 08:17 AM Re: Incent more for CRA-qualified loans? [Re: Tarhe]
Sinatra Fan Offline
Power Poster

Registered: 07/19/02
Posts: 5567
Loc: New Jersey
See this thread
_________________________
Management is doing things right; leadership is doing the right things. Peter Drucker

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#2158592 - 12/28/17 11:40 AM Re: Incent more for CRA-qualified loans? [Re: Tarhe]
Tarhe Offline
Platinum Poster

Registered: 11/15/06
Posts: 813
Loc: California
Thank you so much for that thread! I did a search but my search criteria didn't pull this up. Thanks again!!

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