Retail Commission Module

Eliminate the complication and time spent calculating commissions. AMB’s commission calculation and override modules reduce the labor required by allowing the user to set up commission formulas in advance. AMB then simply collects the loans closed, applies the formula, and produces outstanding reporting. Loan officers receive timely and accurate reporting.

The Retail Commission module allows users to set up commission calculations by loan officer and type of loan. Commissions may be based on loan income and expenses, dollar minimums, loan volume, loan unit count for the month, and a tiered fee structure, which relates different levels of loan income for the period to commission levels. Each loan officer’s commission per pay period is calculated based on the loans closed in the period. Reports are presented in a variety of easy to understand formats. Bonuses are calculated monthly, quarterly, or annually. Commission reports can also include employee ID numbers for easy reporting to your payroll service. The commission module also allows the user to enter adjustments to commissions for non-loan related expenses.

The Commission Override feature, offered as an add-on module to the standard Retail Commission Module, allows the calculation of override fees to branch managers, loan processors, underwriters, etc. Individuals may receive overrides for either the units or volume closed in their branch. Overrides are paid as a percentage of loan volume or as fixed dollar amounts per loan. Participating loans for each manager are controlled by the user.

Both the basic Retail Commission Module and the override feature produce a report of potential payments to loan officers, branch managers or processors respectively. Users always have a final chance to adjust commissions and overrides prior to actual payment.

The Accounting for Mortgage Bankers (AMB) Commission Calculation Module allows tremendous flexibility while ensuring that commissions are directly related to the actual income and expenses incurred on each loan.

• Define profiles per Loan Officer per loan program
  
  
• Profiles are based on loan income, basis points, unit count, formulas, monthly loan income and more.
  
  
• Base Commission Per LO or Account Exec
  
  
• Splits between LO’s
  
  
• Bonuses – monthly, quarterly, annually
  
  
• Adjustments for non-loan items
  
  
• Overrides – managers, processors, and others.