1. Home
  2. Broker Compensation Update

Broker Compensation Update

* Indicates required field.
Company Name *
ID Number *
Requested By First name *
Last name *
Email Address *
We request a change to our compensation plan for the next period, as follows:

Set my compensation at *  
%
      * Compensation percentage may not exceed 2.75%
  Refer to Wholesale Lock Policy for Compensation Policy
plus (+) *  
$ .00
with the minimum at *  
$ .00
and the maximum at *  
$ .00
This Broker Compensation Update applies to:
*
* The States will appear below if you choose this option
ADDENDUM TO BROKER AGREEMENT
COMPENSATION

Mortgage Loan Originator Qualification and Compensation, effective January 10, 2014, contains clarification and slight changes to the loan origination compensation rules that were enacted in April 2011. Brokers represent and warrant that all loan originators employed by them and/or contracted by them are paid in compliance with the originator compensation rules.

Plaza has revised the broker compensation policy. Plaza will limit lender-paid broker compensation as follows:
  • Up to 2.75% if there is no flat fee charged in addition to the percentage
  • Up to 2.5% if the flat fee does not exceed $1,000
  • Up to 2.0% if the flat fee does not exceed $2,000
Brokers may select a floor not less than $0 or more than the greater of $3,500 or 1% of the region's average loan size and a maximum not to exceed $50,000.

*
*