This idea came to us in 2014 and was implemented as a loyalty bonus for those loan originators that work at Envoy Mortgage at the time a loan funds and at the time the loyalty bonus hits.
*As a side note this idea was brought to us by local employees in Northern, CA and sent up the flag pole. As I’ve mentioned, my favorite thing about Envoy is that they listen.
Imagine this! You are a loan originator and close loans each month. Let’s say you close $1,000,000 each month and after the 1st quarter you’ve closed $3,000,000. You’ve already received your commission as expected on that $3,000,000 and normally that’s all you get.
Well at Envoy Mortgage you get more!
With each quarter’s end you will receive a loyalty bonus, paying you extra Bps, on loans you closed the quarter before. But that’s not all… The following year you will get additional Bps on the previous year and previous quarter and then in year 3 you’ll receive Bps again on the loans you closed 2 years ago, 1 year ago and current production.
This can be hard to explain and understand but rest assured this can compound into an awesome bonus check that you aren’t expecting. Perhaps you just received enough to take that vacation or do that something special, and all you did was close loans, like you’re doing now, but not getting bonuses…
We should really talk! Call me and we’ll talk about getting you a bonus too!
Matt Steinmetz nmls# 221315
Here is the original post on LinkedIn: