Mortgages Compensation

HBW is phasing out of the mortgage service business officially as of Wednesday March 31, 2010. In order to allow time to finish any Mortgage business that any of our reps may be working on that have not been submitted yet, myTurboLoan will continue to accept new loans through HBW until Wednesday March 31, 2010.

As of April 1, 2010 the myTurboLoan Mortgage program will no longer be offered through HBW and new loans will no longer be accepted.

In addition to the following commissions, AVPs, EVPs, and NDAs receive generational overrides.

Loans are paid based on the servicing fee structure below. Please allow 2 - 3 weeks for statements to be received by HBW from Victory Mortgage and be processed. (This is from the date of the Loan being funded.)

Residential Mortgages

Residential Mortgage Commission Levels
HBW Level NDA EVP AVP PAVP SAM AM REP 2 REP 1
Percentage Payout 75% 72.5% 70% 65% 60% 50% 40% 40%

Plus NDA bonuses of up to 3% on all generations

Compensation Example: Loan completed for $100,000 will pay a servicing fee of $550. To figure out your compensation, the formula is your HBW level percentage times the servicing fee. (PAVP at 65% X $550 = $357.50 payout)

Servicing Fee Schedule
$75-100,000$550
$100,001-$125,000$650
$125,001-$150,000$750
$150,001-$175,000$850
$175,001-$200,000$950
$200,001-$225,000$1050
$225,001-$250,000$1150
$250,001-$275,000$1250
$275,001-$300,000$1350
$300,001-$325,000$1450
$325,001-$350,000$1550
$350,001-$375,000$1650
$375,001-$400,000$1750
$400,001-$417,000$1850
$417,001+$2000

Generational Overrides for Residential Mortgages

Level AVP over AVP
EVP over EVP
NDA over NDA		 EVP over AVP
NDA over EVP		 NDA over AVP
1st Level 7% 12% 17%
2nd Level 3% 8% 13%
All Subsequent Levels - 5% 10%

EVPs override AVPs at all levels including third and below by an additional 2.5%
NDAs override AVPs at all levels including third and below by an additional 5.0%