COMPENSATION

 

Innovative Mortgage offers three compensation plans.  Each plan empowers loan originators to elect and modify their compensation quarterly.   Originators can also modify their plan quarterly as well. Innovative deducts a flat transaction fee from the loan originator's elected compensation and disburses the balance to the loan originator.

 

All compensation plans include:

  1. Correspondent channel commissions disbursed within 48-72 business hours of funding.

  2. Wholesale brokered transactions typically compensated within 1-2 weeks after funding.

  3. Personalized originator web page with an online web application.

  4. Calyx origination software ($120/quarter) installed on unlimited workstations.

  5. Optional Mobile Mortgage Application ($100/quarter).

  6. Full DU/LP privileges.

  7. Credit report privileges.

  8. Management support.

  9. Vendor pricing discounts.

  10. Direct lender pricing.

100% Plan, $495 Transaction Fee

Loan originators remit $45/month in dues.  Originators elect their compensation quarterly. Originators collect revenue on each transaction equivalent to their elected compensation. Loan originators are compensated 100% of their elected compensation less $495. Originators are compensated individually on a 1099 basis as independent contractors. Originators are responsible for all their individual expenses.

100% Plan, $795 Transaction Fee

Loan originators elect their compensation quarterly. Originators collect revenue on each transaction equivalent to their elected compensation. Loan originators are compensated 100% of their elected compensation less $795. Originators are compensated individually on a 1099 basis as independent contractors. Originators are responsible for all their individual expenses.

100% Team Plan, $495 Transaction Fee

Loan originators elect their compensation quarterly. Originators collect revenue on each transaction equivalent to their elected compensation. Loan originators receive team support and assistance. Originators are compensated a prearranged split with their team leader less $495. Originators are compensated individually on a 1099 basis as independent contractors.  Originators are responsible for all their individual expenses.

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Licensed in Alabama, Tennessee, and Florida

NMLS 250769

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