The are a number of ways an NGFS loan officer can be rewarded for recruiting other into our program.
Referral Bonus – receive $1,000 for each person you refer to NGFS that becomes an NGFS loan officer at the rate of $200 on the first five loans they close. Receive $1,000 for each person you refer that becomes a full time loan officer of 1st Mariner Bank payable $500 on first day of employment and $250 at the end of six months and one year of employment.
Sales Manager – Individuals who have the desire and ability to manage a field force are eligible for additional commissions as published on the NGFS Compensation Schedule. The threshold for overrides begins after a Sales Manager recruits five loan officers.
Overrides represent the difference between what NGFS pays the loan officer and the compensation level that the Sales Manager attains. One immediate way to increase an override is through the Premier Producer Program These relationships require active management in the form of day-to-day support, answering questions, providing guidance, mentoring and motivation. Sales Managers can also earn overrides on full time bank loan officers they recruit at the same level of compensation paid to a 1st Mariner Mortgage Branch Manager.