Why are Basis Points Important?

Why are Basis Points Important?

bps-2-300x200 Why are Basis Points Important?

Here is an example of how one of my partner clients pays out to their Branch Locations:

XYZ Branch does 8 Million in total monthly production 50% government (VA, FHA), 50% Conventional. The producing Branch Manager does 2 million, and he has 3 loan officers each doing 2 million in production each. Below is an example of how the Branch Manager and the loan officers would get paid:

Branch Manager Income:

·        $8,000 – Monthly Salary based on 8 million branch volume production

·        $35,000 – Based off Producing 2 million a month at 175 bps

·        $15,000 – Based off 2 million from override on 2 loan officers

·        $58,000 – Total Monthly Income

·        $696,000 – Total Yearly Income

Loan Officer Income:

·        $35,000 – Based off Producing 2 million a month at 163 bps

·        $420,000 – Total Yearly Income

 

Let me know if you have questions on Basis Points, or if you are interested in partnering with clients shown in the example. Thanks for reading!

 

AAEAAQAAAAAAAAiZAAAAJGE1MDY1OTU2LWMxYWEtNGVkOC05NmZhLTgyMzJkNTRlZmVhOQ-300x300 Why are Basis Points Important?
               Luke Osborne

Director of Mortgage Banking with LG Recruiting

Direct Line: 801-872-4591

Email: losborne@lgrecruiting.com

LinkedIn: https://www.linkedin.com/in/lukeosborne1recruiter/

Why are Basis Points Important?

One thought on “Why are Basis Points Important?

Leave a Reply

Your email address will not be published. Required fields are marked *