Loan officer information
Please fill out the information below so that Loan Factory can start onboarding you. Our team will call you to discuss all the details, send you an offer and the agreement to review. Here is the onboarding process
Here is the onboarding process:
- Filling out your information
- Pay the $100 one-time startup fee
- Give Loan Factory access to your NMLS record.
- licensing@loanfactory.com will sponsor you
- Review the LO Agreement
- HR will onboard you by creating an account (and giving you an orientation)
- You have full access to loanfactory.com and start growing your business
1Fill Out Basic Information
2Paying one-time fee
3Review and Sign agreement
4Grant Access on NMLS
Register Loan Officer
Fill Out Basic Information
Personal Address
This is where the associate lives so the company can set up state income tax deduction accordingly. Any new changes regarding this matter must be reported to the Human Resources Department.
Mailing Address
The company will send W2/W9 to this mailing address at the end of the year. Any new changes regarding this matter must be reported to the Human Resources Department
Others
Main target compensation will affect the rates on your pricing engine (on your website), as it will be the built-in compensation for borrower-paid comp (BPC). It will also be the default BPC when converting a loan. You can manually decrease or increase your BPC on a transaction if needed and allowed by the Lender.
The percentage you enter here will be set as your Target Compensation with Lenders that set up correspondent compensation by LO profile, and this can only be changed once every 3 months. However, for some correspondent lenders, the compensation is set during file registration or lock. Please refer to the Correspondent Handbook for more information.