Lender Scraps 100% Commissions by Offering Salary Plus Commissions to Help Attract New Sales Talent
As a way to expand the pool of potential employees and stave off predatory lending, one lender is scrapping its 100 percent commission compensation plan for its loan originators. Beginning in January, HomeBanc Mortgage’s new hires will receive a base salary plus commission. Most existing employees will have the option to switch to the new compensation plan as well. …