Refer a Loan Officer
We appreciate your referral
Earning a Referral Bonus is Simple. Only 2 STEPS:
- Ensure Attendance: Make sure the loan officer registers and attends the weekly webinar: www.LoanFactory.com/Loan-officer
- Spread the Word: Talk to loan officers about Loan Factory, the fastest-growing and best mortgage platform for loan officers. Register the referral on this page so that we can keep track
BONUS FOR LOAN FACTORY LOAN OFFICERS:
| Number loan closed in the preceding 12 months | REFERRING LOAN OFFICER | Referred Loan Officer | |
|---|---|---|---|
| One-time Bonus | RSUs | RSUs | |
| 2 - 11 | $500 | 0 | 0 |
| 12+ | $1,000 | 1,000 | 2,000 |
| 24+ | $2,000 | 2,000 | 4,000 |
| 36+ | $3,000 | 3,000 | 6,000 |
| 48+ | $4,000 | 4,000 | 8,000 |
| 60+ | $5,000 | 5,000 | 10,000 |
| 72+ | $6,000 | 6,000 | 12,000 |
| 84+ | $7,000 | 7,000 | 14,000 |
| 96+ | $8,000 | 8,000 | 16,000 |
| 108+ | $9,000 | 9,000 | 18,000 |
| 120+ | $10,000 | 10,000 | 20,000 |
| REFERRING LOAN OFFICER can choose either cash bonus or stock bonus | |||
For example:
If the referred LO closed 7 loans in the preceding 12 months, the referring LO will earn a one-time bonus of $500
If the referred LO closed 50 loans in the preceding 12 months, the referring LO will earn a one-time bonus of $4,000 or 4,000 RSUs. The referred LO will earn 8,000 RSUs.
BONUS IF YOU ARE NOT A LOAN FACTORY LOAN OFFICER:
- Earn $200 for referring a loan officer who closed between 1 to 5 loans in the preceding 12 months
- Earn $500 for referring a loan officer who closed 5+ loans in the preceding 12 months
Referral Eligibility Policy
Policy When the Referrals are NOT Eligible:
-
The referred loan officer joined after 120 days from the referral date.
Reason: The loan officer should persuade the recruited loan officer to attend the webinar and join Loan Factory within 120 days.
-
The referred loan officer registered or attended our weekly webinar before the referral date.
Reason: The loan officer was recruited by Loan Factory before being recruited by the referring loan officer.
-
The referred loan officer joined Loan Factory in the past.
-
The referrer and referee loan officers are spouses.
-
The referred loan officer is a mortgage broker (owns a mortgage brokerage) or is with another broker (concurrently with Loan Factory). In other words, if the referred loan officer is simultaneously working with another mortgage company while being with Loan Factory, no referral bonus will be awarded.
Reason: The referred loan officer is not considered exclusive to Loan Factory.
Bonus Payment:
Referring loan officer will be eligible for bonus 60 days after the referred loan officer is 100% onboarded.
Every Saturday, the system will automatically detect eligible bonuses from 60 days ago (refer to the policy above). It will then generate special commission requests for the Commission Team to review and approve the referral bonuses. From there it can take another 15 days to receive payment. So you can expect your bonus payment approximately 75 days from the date the referred LO is 100% onboarded.