General World News

Knock reverses course on loan officer pay cut

HW+ money

It is an eventful week within the Slack channels of Knock, and an anxiety-filled one for the company’s about 50 loan officers.

On Tuesday, according to multiple sources within the New York-headquartered mortgage lender and “power buyer,” a weekly video meeting of Knock loan officers took a turn when Robert Foos, Knock’s director of sales, told loan officers that they would receive a 33% reduction in salaries effective Jan. 1.

Knock loan officers draw a median salary of about $75,000 a year, according to these company sources.

Both the news itself and how it was presented – with neither company details ⇒

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