Can LO commissions be returned?


If you have been paid on a loan by a lender and the lender sells it for less than anticipated on the secondary market, can they take your commission back or a portion of the commission?


Would advise you to read your employment agreement to see what it says. Haven’t run into that situation, but it’s commonplace for lenders to recoup commissions on loans that pay off too soon (or have early defaults) when the investors who bought the loans charge back the seller (originating lenders).

Answered over 4 years ago
Ted Rood
1482 1 8
You Must Be Logged In To Answer