Pay Structure

MLO (Mortgage Loan Originator) Commission Structure

• Commission Split (Based on Loans Closed in the Previous Quarter):
  • 50% for 0–3 loans closed
  • 55% for 4–6 loans closed
  • 60% for 7+ loans closed
• A $795 Administrative Fee applies to every closed loan and is deducted before the commission split.
• Commission percentages are based on the gross fee income collected at closing.
• Commission levels reset each quarter based on the prior quarter’s funded loan totals.
• New Independent Contractors receive a 55% split until completing one full sales quarter.
• Company-generated loans are paid at a flat 50% split.
• Commissions are earned only when loans have closed and funds have cleared.
• Loan counts per quarter are determined by the actual date of the banking deposit.

Senior MLO (Sr. MLO) Requirements

To qualify for Senior MLO status (after 12 months or later), an MLO must complete two of the following:

• Close at least 1 loan per month (12 in 12 months).
• Conduct 4 “Mortgage Monday” meetings (one per quarter).
• Complete 4 sales training videos (one per quarter).
• Volunteer at 12 Real Estate Investment Club meetings (one per month).
• Sponsor 4 new Mortgage Loan Originators within 12 months.

Senior MLO Commission Structure

• Commission Split (Based on Loans Closed in the Previous Quarter):
  • 60% for 0–2 loans closed
  • 65% for 3–5 loans closed
  • 70% for 6–8 loans closed
  • 75% for 9+ loans closed
• The same $795 Administrative Fee applies and is deducted prior to split.
• Quarter resets, fee basis, and company-generated loan (50%) rules are the same as the standard MLO plan.
• Commissions are earned only after the loan closes and funds have cleared.

Sponsorship Compensation

• MLOs and Sr. MLOs earn a up to 10% Sponsorship Bonus on each loan closed by a person they recruited to the company.
• The 5% is calculated on the Origination Fee (minus the $795 Administrative Fee).
• This bonus continues as long as the sponsored MLO remains affiliated with 1st Step Financial Services, Inc.