- Some loan officers are compensated hourly
- When they just work at big banks that are retail
- But numerous are compensated commission-only
- Which you can break up into hourly wages at year-end
As noted, MLOs are generally perhaps maybe not compensated hourly https://speedyloan.net/reviews/check-city, and tend to be alternatively paid payment for the loans they make and fund.
What this means is compensation that is total vary notably in line with the product product sales performance of this loan officer under consideration. Continue reading