Revenue sharing for mortgage brokers is a technique to incentivize brokers to originate extra loans by giving them a share of the earnings. This is usually a very efficient technique to improve mortgage quantity, as brokers usually tend to work arduous to shut loans in the event that they know they are going to be rewarded for his or her efforts.
There are numerous alternative ways to construction a revenue sharing program. One widespread strategy is to provide brokers a share of the online revenue on every mortgage they originate. One other strategy is to provide brokers a flat price for every mortgage they shut. The particular phrases of this system will fluctuate relying on the lender and the dealer.
