- Some loan officers are compensated hourly
- When they work on big banks that are retail
- But some are compensated commission-only
- Which you yourself can break up into hourly wages at year-end
As noted, MLOs are usually maybe not compensated hourly, and tend to be rather compensated payment when it comes to loans they make and fund.
This implies total payment can vary considerably on the basis of the product product sales performance for the loan officer at issue. In addition it relies on just how much that loan officer makes per loan.
In the event that LO works for a shop that is small has little help, they may make a home loan point or two per loan. Continue reading “Just how much Does a Loan Officer Make an hour or so?”