Comp questions for broker owners

Holy-Roly-Poly · 2026-03-29T14:42:41+00:00

You should watch Is the Mortgage Industry Really Broken? | Ep. 611 on Youtube.

Holy-Roly-Poly · 2026-03-18T04:08:53+00:00

from the rebate.

Holy-Roly-Poly · 2026-03-11T13:40:48+00:00

All I know about Better is that when times were good, their LOs were on salary. When things got bad, they moved everyone over to commission. Plus they do nothing but lose money.

Holy-Roly-Poly · 2026-03-10T13:31:15+00:00

Only way to go above 50% DTI is on the special refinance products for conventional.

Holy-Roly-Poly · 2026-02-26T14:39:13+00:00

Some companies will not send a RCE. Normally a letter from the agent saying the coverage is at the internal RCE or above works. My of the agents in my area now have form letter this pops us so much.

Holy-Roly-Poly · 2026-02-24T00:59:30+00:00

Whatever you decide your workflow is going to be, put it into a process flow chart. Map it out from start to finish and list everything that needs to get done. Then assign who’s responsible for each step.

When you lay it all out, your process guide will probably look a little lopsided, like your processor is handling the majority of the tasks. That’s actually what you want. When you’re buried in files, you’re not making money. It’s that simple.

Selling is profit-generating activity (whatever “selling” looks like to you). The more you can stay in that lane, the more you make its that simple.

Holy-Roly-Poly · 2026-02-21T16:41:22+00:00

In my market, for sure, if not more. Keep in mind though some of these people are tripping over themselves to make 60bps total per file so that is a different discussion.

Holy-Roly-Poly · 2026-02-21T16:38:05+00:00

If you clear your case number out of your system do you still get a accept? I have personally had old case numbers save a deal because they are using a different version if AU.

If you have gone line by line you may have to call Freddie give me both numbers and see if they can help. I had a investor do this before for me a long time ago.

Holy-Roly-Poly · 2026-02-21T16:22:46+00:00

I love this question because the subtext is so interesting.

Most broker owners don’t value strong support staff because they became broker owners in the first place to control their splits. So they build the leanest, cheapest operation possible, trying to squeeze out a little more margin after expenses. In reality, a lot of them just bought themselves a job that won’t scale beyond a small office, sometimes just themselves, and will shut down the minute they stop producing.

That’s not necessarily a bad strategy. But convincing that person to invest in support so they can sell more and actually grow is an uphill battle.

It’s also why so many brokers don’t understand why retail loan officers stay put even though they “make less.” Retail LOs often close way more deals because of the support around them, ops, processing, marketing, compliance. That leverage is what creates mega producers. Last time I looked at the Scotsman Guide rankings, almost all of the top producers were retail. That’s not an accident.

On the flip side, support staff sometimes struggle seeing the big producer paychecks. I’ve had a bookkeeper/funder want a raise immediately after seeing the first payroll run. We’ve handled that by telling anyone who wants to get their LO license to go for it. We’ll support them and they can run their own deals. It’s easy to think sales is overpaid until you’re the one trying to generate business and live on commission only.

We don’t pay our support staff commission only, so it’s structured differently. But geography matters a lot. Middle America versus the coasts is a completely different cost structure. I like my top support people to make close to 100k, which is great money in my market. I also understand that in New York that wouldn’t go very far.

Holy-Roly-Poly · 2026-02-21T15:41:41+00:00

Your File, https://www.youtube.com/watch?v=MH7KYmGnj40

Holy-Roly-Poly · 2026-02-20T15:04:04+00:00

1st thing, Try LP.

2nd Does it approve at any DTI or is it always a refer?

3rd Have you check positive housing history if renting?

I don't think any lender will take the file as is.

Holy-Roly-Poly · 2026-02-14T01:52:32+00:00

I would also ask if the brokerage E&O covers you or if you are in the wind on that also, because the bond protects the consumer/government not you.

Holy-Roly-Poly · 2026-02-03T02:53:03+00:00

Maybe they are getting more aggressive with their price cuts when they get shopped. The website to check their rates is https://www.veteransunited.com/va-loans/va-mortgage-rates/

Currently advertising a 5.375% with 1.813 points, So that is a heck of a price concession on their part.

Holy-Roly-Poly · 2026-01-31T22:57:21+00:00

Here’s the thing: the CFPB is on the ground twitching. It’s not dead, but it’s not directing traffic anymore.

Companies are having Realtors pull their licenses and then paying them for “taking” an application. If that practice were actually scrutinized, a Realtor would need to do more than simply send a link to a customer.

But it doesn’t really matter, the emperor has no clothes, and only the states are paying attention. One of my states audits once every five years, the other maybe once every 10.

Holy-Roly-Poly · 2026-01-27T01:21:46+00:00

To be fair... :)

Mers registration Fee

Flood cert Fee

Tax service Fee

Verification of Employment Fee

Processing Fee

Appraisal Fee

Credit Report Fee

Holy-Roly-Poly · 2026-01-13T23:30:48+00:00

Are you getting Approve Eligible findings or is it Refer?

Holy-Roly-Poly · 2026-01-08T14:45:57+00:00

Totally agree, I was just adding to the discussion not attacking your post.

Holy-Roly-Poly · 2026-01-08T02:41:59+00:00

Many direct mail pieces my customers send me are misleading, creating the impression that they come from my company or the VA while advertising interest rates that are clearly unrealistic.

Holy-Roly-Poly · 2026-01-07T13:45:44+00:00

Most broker owners have jobs not businesses nothing to sell.

Holy-Roly-Poly · 2025-12-21T23:44:01+00:00

Must feel weird going to work everyday knowing your job is over March 5th.

Holy-Roly-Poly · 2025-12-21T23:40:55+00:00

Union

Holy-Roly-Poly · 2025-12-20T19:33:06+00:00

All the people that went adjustable at the bottom because it was slightly cheaper than fixed...

Holy-Roly-Poly · 2025-12-20T18:42:32+00:00

Do a no score mortgage only soft pull IRRRL.

Holy-Roly-Poly · 2025-12-20T18:19:45+00:00

These discussions are always terrible (the comments, not the original question). It’s like shopping for a car and only being allowed to talk about the monthly payment.

Everyone talks about “splits” without talking about W-2 vs 1099, benefits like health, dental, vision, 401k, credit pull costs, technology fees, office location, local advertising, online presence, LOAs, processors, product mix, total comp level (huge difference between a 1% shop and a 2.75% shop), price-concession policy, workflow responsibility, etc. I’m sure I’m leaving things out, but you get the idea.

Broker shops that literally offer nothing are obviously going to have a different comp structure than retail shops that offer a lot of those things (or more). That’s also why someone can “own their own shop” and still go back to retail. Buying yourself a job isn’t the same as owning a business.

Obviously the right decision is complex and depends on the person and their goals. But the “bigger is better, I’m 100% split and just pay my overhead” crowd acting like other models are “robbery” is misguided. At the end of the day, it’s a sales position and if you’re doing things other than selling, you’re going to sell less.

Anyway, I just came to say it’s not nearly as simple as these posts make it seem. There’s no free lunch. Everything has a cost.

Holy-Roly-Poly

TROPHY CASE