Here’s How the Payroll Process Works
In the mortgage brokerage industry Broker One is renowned for its efficient payroll processing. As an Affiliate Broker Firm your payroll process is as simple as sending on a Trade Record Sheet, identifying specific details about the funded file, to the payroll team.
Once the mortgage funds and the lender sends in the finder fees , the “pay file” process is activated. Broker One processes commissions weekly. Commissions are deposited into your account each Wednesday. On the Friday prior to the deposit Wednesday you receive a pay reconciliation outlining which files you are getting paid for and for how much.
Additions to your commissions
Broker One credits your commissions for any mortgage life insurance, trailer fees and Volume Bonus that you have earned as they are received.
Our payroll system is a very efficient and broker friendly process. Our Broker Services department is the best in the industry and they pride themselves in personally answering as many phone calls as possible. If there are any questions you have with the payroll system, simply call the Broker Services group and the person handling your call will get your questions answered for you immediately.