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Volume 2018 - Number 30

August 9, 2018

In a Tough Lending Market, Geneva is Attracting Loan Officers by Offering Comp Plans of 250 BPs

Geneva Financial, Tempe, AZ, is offering loan officer recruits a compensation package of 250 basis points or higher, attracting scores of resumes as well as the ire of some of its competitors.

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Poll

Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.

35%

The wholesale/table funder. They’re taking the financial risk.

30%

The broker, but only for the first year. After that, the borrower is fair game.

13%

Hard to answer. It’s a complicated issue.

22%