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Mortgage Broker Benefits
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Loan Writer Management
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Loan Writer Management 
Many Mortgage Broking businesses employ or independently contract Loan Writers to assist with the workload associated with processing loans. The Mortgage Broker Principal needs to manage these Loan Writers to ensure that the work is getting done and that loan writers are paid according to agreed arrangements. Similar to Referrers, Loan Writers may be paid on various bases as follows:
  • An up-front flat fee payable for loans written.
  • An up-front commission based on a percentage of the loan amount written payable when the loan settles.
  • An up-front commission based on a percentage of the commission received by the Mortgage Broker from the Financial Institution funding the loan.
  • A percentage of the ongoing monthly Trail Commission received by the Mortgage Broker from the Financial Institution for the life of the loan.
BrokerSource will provide the following benefits when managing Loan Writers:
  • Obtain the same benefits provided by the Loan Management module but customise each view at Loan Writer level.
  • Follow-up and monitor loan progress remotely to ensure client satisfaction and to maintain your levels of service.
  • Automatically calculate Loan Writer commissions payable based on their agreed commission payment structure ensuring that they receive the correct amounts payable to them.
  • Automatically produce "Recipient Created Tax Invoices" (RCTIs) for contracted Loan Writers accompanying each commission payment which will save you time and streamline this process.