Internal Team Policy

At Loan Factory, we believe in the power of teamwork to achieve our goals and deliver exceptional service to our clients. This Team Policy is designed to foster a positive, productive work environment where all Team Members can thrive.

On this page

Team Structure and Qualifications

Teamwork

Loan Officers may collaborate as a team, led by a Team Leader.

Requirements

To qualify to become a Team Leader, a Loan Officer must have at least three (3) years of experience and have closed three (3) loans with Loan Factory. Exceptions may be made by management based on strong overall industry experience.
Team Leader must undergo a 15-minute interview by LO Development before formation of the Team is approved.
A Team Leader must have at least two (2) Team Members upon team formation and maintain that headcount at all times.
The Team Leader may be engaged as a 1099 contractor or W-2 employee, but must be actively working with Loan Factory as a producing Loan Officer and Team Lead as their primary professional role. This requirement helps ensure the Team Leader can dedicate sufficient time and attention to successfully perform both producing Loan Officer duties and be a Team Leader.
Team Leader and all Team Members must be properly licensed as an MLO.
The Team Leader and Team Members must remain compliant with all applicable state licensing requirements and may not engage in borrower communications or other licensable activities in states where they are not properly licensed.

Joinning a Team

Step 1: Team Selection
Visit the Teams page on the Marketplace to view available teams and their associated benefits.
Step 2: Consultation
Discuss the team benefits and commission override structure with the Team Leader prior to joining.
Step 3: Agreement
When a Team Member joins a team, they are required to electronically sign an agreement confirming the pre-determined commission split between themselves and the Team Leader.

Once Joined: The Team Member’s profile will reflect their team affiliation, and the commission override will be paid to the Team Leader for every closed loan.

Commission Structure & Payouts

Commission Overdrive

W-2 and 1099 Team Leaders may earn a commission override from their Team Members of up to 50% of the commission, based on mutual agreement.

Inexperienced Loan Officers

Inexperienced Loan Officers must split a minimum of 30% of their commission with the Team Leader in order to join a Team and be paid as Experienced. Once they are officially changed to Experienced (after closing 5 loans total), this minimum split requirement will no longer apply.

Automated Process

The system automatically adds the Team Leader to the 1003 in a dedicated slot and generates commission requests for the override amount.

Commission Payment

When a Team Member requests commission for a closed loan, the commission override is deducted from the commission after Loan Factory fees have been applied. The commission override will be paid to the Team Leader

Commission Payout Formula (Example)

Net Commission = Total Commission – Loan Factory Fees
Team Leader Payout = Net Commission × Team Leader’s Split
Team Member Payout = Net Commission × Team Member’s Split

Split Modifications

The agreed-upon commission split may only be changed in one of the following ways:

File-by-File Adjustment: The Team Leader may adjust the split on an individual file within the 1003, if necessary.
Permanent Adjustment: A permanent change to the commission split for all future files must be requested by submitting a ticket to LO Development.

Team Leader Responsibilities

Hold weekly meetings and maintain open communication within the team.
Attend monthly Team Leader meetings to remain aligned with company updates, strategies, and best practices.
Set clear goals, monitor performance, provide feedback, and hold Team Members accountable.
Adhere to all company policies, legal requirements, and regulatory standards while maintaining professional and ethical conduct.

Team Restrictions & Dissolution

Maximum Restrictions

Each team may have a maximum of one (1) Team Leader

A Loan Officer may only be a member of one (1) Team at any given time.

Minimum Requirements

Each Team must have a minimum of one (1) Team Lead and two (2) Team members.

Failure to sustain this minimum requirement will result in removal from the program.

Termination

Either the Team Leader or Team Member may terminate the team relationship at any time. To finalize termination, a ticket must be submitted to LO Development. Termination does not release the Team Member from the obligation to pay the agreed commission split to the Team Leader for any loans that:

Were originated while their Agreement was in effect, and
The Team Leader assisted with that during that time.

Team Dissolution

Loan Factory reserves the right to dissolve any team at its discretion.

Team Sharing Settings

If the Team setting "Allow sharing with other team member" = Yes

All transactions (loans/prospects/leads) of all members will be displayed in the Teams tab
All members can see the Teams tab (Please ensure all your Team Members are okay with this before proceeding to mark YES)

If the Team setting "Allow sharing with other team member" = No

All transactions (loans/prospects/leads) of all members will be displayed in the Teams tab
Only the Team Lead can see the Teams tab

Please check and ensure you have the preferred setting. If you are not sure how to find this setting, please create a ticket for LO Development for direction.

We use cookies to ensure the most optimal browsing experience on our website. By visiting our site, you are agreeing to the use of these cookies.