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 Sales Commission can be a flashpoint in
disputes between mortgage brokerages and their agents. Litigation
related to these disputes can result in monetary losses, and
in some cases the distraction of the lawsuit can drive brokerages
to collapse.
QCommission enables you to quickly
calculate commission, draw, and bonuses, verify results and distribute
this information to your agents, loan officers and managers.
Present the commission information in such a way that your agents
clearly understand what they are being paid and why they are
being paid at a very detailed level. Excel and manual calculations
can introduce a lot of errors into your calculations and cause
your agents to lose trust in you. QCommission can help avoid
that by calculating all commissions systematically and reliably. |
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Overview
The mortgage industry is involved in mediating
a customer and the financial organization with whom they are
partnered. The primary service of a mortgage company is to
provide financing options to the customer in the mortgage-lending
environment. These mortgage industries offer many different
lending programs to meet the variety needs of its customers.
The recent housing boom, due to the lowest
interest rates seen in the United States in the last 45 years,
has caused many mortgage companies to expand rapidly. With
larger volume, additional employees, and compensation calculation
changes due to this rapidly changing industry, commissions
paid to brokers have become harder to track, calculate and
communicate. QCommission helps to do this task easily.
QCommission solves the major issues in
calculating and paying commissions in time.
Features
- Pay against Loan originations
- Pay against Loan referrals
- Pay differently by Loan providers
- Pay differently by Loan products
- Pay differently by brokers
- Pay weekly, bi-weekly, monthly and
other time periods
- Tier rate commission calculations
- Split commissions with the agency
or between brokers
- Provide clear commission statements
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Minimum Wage
Recently some companies have been concerned about the impact of minimum wage rules on their loan offers. In periods where there are no loans, loan officers may not get any commissions at all. This could be illegal because of the minimum wage law (check wity your accountant). QCommission can handle this by setting up a draw for the minimum wage amount and paying it weekly or bi-weekly, and then adjusting it against the commissions when commissions is paid out. |
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Multi-level commissions
Recently some companies have been converting their sales model to model where loan officers referring other loan officers to the company get an override on the loans brought in by the new loan officer. This override may extend to a few level of referrals below the a current loan officer. QCommission can handle this commission calculation by keeping track of the referral relationships and paying a varying rate of commissions based on the relationship level and role. |
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| Article |
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Avoid
Sales Commission Litigation  |
| Mortgage Broker Sales Commissions - A Primer - Article |
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| Sample Plan |
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Customer
Quote
Dennis Loosli, President - Community Lender | click
here for complete case study
"With QCommission I am able
to calculate and communicate with my mortgage agents'
commissions very easily. QCommission found calculation problems
the first time around and saved me money. I'm
just tickled pink with this program; QCommission
has already paid for itself and more." |
QXchange.com |
Easy-Commission.com |
CellarStone.com |
MaxBlox.com
