Comments for attorneysafesolutions.com http://www.attorneysafesolutions.com Mon, 06 Feb 2012 00:57:07 +0000 hourly 1 http://wordpress.org/?v=3.1 Comment on Are loan officers allowed to get referral percentage from real estate agents? by yourmtgbanker http://www.attorneysafesolutions.com/are-loan-officers-allowed-to-get-referral-percentage-from-real-estate-agents/#comment-3539 yourmtgbanker Mon, 06 Feb 2012 00:57:07 +0000 http://www.attorneysafesolutions.com/are-loan-officers-allowed-to-get-referral-percentage-from-real-estate-agents/#comment-3539 Absolutely NOT! A loan officer cannot give a referral fee to a realtor nor can they receive one. This is a direct violation of RESPA and a company can lose their license and be stiffly fined if a member of their organization does this. It is completely illegal. Realtors refer business to lenders that they trust. Their income is commissional and they want to make sure the deal is done right. They refer business to lenders they have had good experiences with in the past. Absolutely NOT! A loan officer cannot give a referral fee to a realtor nor can they receive one. This is a direct violation of RESPA and a company can lose their license and be stiffly fined if a member of their organization does this. It is completely illegal. Realtors refer business to lenders that they trust. Their income is commissional and they want to make sure the deal is done right. They refer business to lenders they have had good experiences with in the past.

]]> Comment on Are loan officers allowed to get referral percentage from real estate agents? by melissaw219 http://www.attorneysafesolutions.com/are-loan-officers-allowed-to-get-referral-percentage-from-real-estate-agents/#comment-3538 melissaw219 Mon, 06 Feb 2012 00:13:10 +0000 http://www.attorneysafesolutions.com/are-loan-officers-allowed-to-get-referral-percentage-from-real-estate-agents/#comment-3538 I recommend lenders all the time and getting nothing out of it but satisfied customers. I refer them because they do right by the clients. I rest easy knowing my buyers are not being taken advantage of because I have a history with this person. I recommend lenders all the time and getting nothing out of it but satisfied customers. I refer them because they do right by the clients. I rest easy knowing my buyers are not being taken advantage of because I have a history with this person.

]]> Comment on Are loan officers allowed to get referral percentage from real estate agents? by nick k http://www.attorneysafesolutions.com/are-loan-officers-allowed-to-get-referral-percentage-from-real-estate-agents/#comment-3537 nick k Sun, 05 Feb 2012 23:40:30 +0000 http://www.attorneysafesolutions.com/are-loan-officers-allowed-to-get-referral-percentage-from-real-estate-agents/#comment-3537 It is completely illegal. They are suggesting people they have worked with and have first hand experience they will get the job done for you correctly, and on time. Because whoever they refer you to is a reflection of them. It would not hurt to get other opinions though just to make sure. It is completely illegal. They are suggesting people they have worked with and have first hand experience they will get the job done for you correctly, and on time. Because whoever they refer you to is a reflection of them. It would not hurt to get other opinions though just to make sure.

]]> Comment on How much do real estate loan officers make in the first year? by benebuck8 http://www.attorneysafesolutions.com/how-much-do-real-estate-loan-officers-make-in-the-first-year/#comment-3543 benebuck8 Sun, 05 Feb 2012 23:19:58 +0000 http://www.attorneysafesolutions.com/how-much-do-real-estate-loan-officers-make-in-the-first-year/#comment-3543 You're likely going to struggle. If you have a base salary, you might be ok but it you're on commission, it's going to be VERY hard to succeed. Many experienced loan officers are struggling, and a new loan officer would have an even tougher time, in my opinion. You’re likely going to struggle. If you have a base salary, you might be ok but it you’re on commission, it’s going to be VERY hard to succeed. Many experienced loan officers are struggling, and a new loan officer would have an even tougher time, in my opinion.

]]> Comment on How much do real estate loan officers make in the first year? by Mortgagemom http://www.attorneysafesolutions.com/how-much-do-real-estate-loan-officers-make-in-the-first-year/#comment-3542 Mortgagemom Sun, 05 Feb 2012 23:07:21 +0000 http://www.attorneysafesolutions.com/how-much-do-real-estate-loan-officers-make-in-the-first-year/#comment-3542 Okay, first of all, it's a buyer's market, not seller's. Anyway, the amount of your first year's compensation depends on whether or not you are commission only, and how much effort and time you put into your marketing. Unless you work for a bank for a fixed salary, there is no way to determine your earnings. It's really all up to you. But for a general idea what the average LO makes in your area, check out the following webite: http://www.salary.com Okay, first of all, it’s a buyer’s market, not seller’s. Anyway, the amount of your first year’s compensation depends on whether or not you are commission only, and how much effort and time you put into your marketing. Unless you work for a bank for a fixed salary, there is no way to determine your earnings. It’s really all up to you. But for a general idea what the average LO makes in your area, check out the following webite:

http://www.salary.com

]]> Comment on Are loan officers allowed to get referral percentage from real estate agents? by Mary B http://www.attorneysafesolutions.com/are-loan-officers-allowed-to-get-referral-percentage-from-real-estate-agents/#comment-3536 Mary B Sun, 05 Feb 2012 22:47:06 +0000 http://www.attorneysafesolutions.com/are-loan-officers-allowed-to-get-referral-percentage-from-real-estate-agents/#comment-3536 Referral DISCOUNTS are perfectly legal and common in the industry. In other words they are giving a price break DIRECTLY to the customer to HELP you do business. What would NOT be legal, is for them to take that discount, and pay you in cash. Very fine line, but it's commonly done and 100% legal. Referral DISCOUNTS are perfectly legal and common in the industry. In other words they are giving a price break DIRECTLY to the customer to HELP you do business.

What would NOT be legal, is for them to take that discount, and pay you in cash.

Very fine line, but it’s commonly done and 100% legal.

]]> Comment on How much do real estate loan officers make in the first year? by Percy http://www.attorneysafesolutions.com/how-much-do-real-estate-loan-officers-make-in-the-first-year/#comment-3541 Percy Sun, 05 Feb 2012 22:28:56 +0000 http://www.attorneysafesolutions.com/how-much-do-real-estate-loan-officers-make-in-the-first-year/#comment-3541 Hi, Checkout http://homefunding.consumerplanet.info for some useful info on the matter. Good luck! Hi,

Checkout http://homefunding.consumerplanet.info for some useful info on the matter. Good luck!

]]> Comment on Are loan officers allowed to get referral percentage from real estate agents? by matzael http://www.attorneysafesolutions.com/are-loan-officers-allowed-to-get-referral-percentage-from-real-estate-agents/#comment-3535 matzael Sun, 05 Feb 2012 22:21:55 +0000 http://www.attorneysafesolutions.com/are-loan-officers-allowed-to-get-referral-percentage-from-real-estate-agents/#comment-3535 No they can't receive funds from the broker. That is a violation of the Real Estate Settlement Procedures Act for the loan officer to give any compensation to the realtor for the referral. No they can’t receive funds from the broker.
That is a violation of the Real Estate Settlement Procedures Act for the loan officer to give any compensation to the realtor for the referral.

]]> Comment on How much do real estate loan officers make in the first year? by Bob D http://www.attorneysafesolutions.com/how-much-do-real-estate-loan-officers-make-in-the-first-year/#comment-3540 Bob D Sun, 05 Feb 2012 22:19:49 +0000 http://www.attorneysafesolutions.com/how-much-do-real-estate-loan-officers-make-in-the-first-year/#comment-3540 The bad news is that you may make nothing. You have to have leads to develop loans. So it all depends on the situation. If the lead system is mature you could make alot of money. Even in this market. I am new in the biz and kept my day job and am learning the biz. I call it an internship. I havent made any money but have learned alot about the business and the education alone has made it worth it. The bad news is that you may make nothing. You have to have leads to develop loans. So it all depends on the situation. If the lead system is mature you could make alot of money. Even in this market.
I am new in the biz and kept my day job and am learning the biz. I call it an internship. I havent made any money but have learned alot about the business and the education alone has made it worth it.

]]> Comment on Are loan officers allowed to get referral percentage from real estate agents? by Carolinahomerates.com http://www.attorneysafesolutions.com/are-loan-officers-allowed-to-get-referral-percentage-from-real-estate-agents/#comment-3534 Carolinahomerates.com Sun, 05 Feb 2012 21:34:04 +0000 http://www.attorneysafesolutions.com/are-loan-officers-allowed-to-get-referral-percentage-from-real-estate-agents/#comment-3534 it's against RESPA laws. it’s against RESPA laws.

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