General World News

LO commissions take a hit as refi volume slumps

Loan officers’ wallets slightly deflated in the second quarter, with commissions earned per LO decreasing by 6% year-over-year, according to LBA Ware’s quarterly loan compensation report. Loan volume per LO also took a dive of 4%.

The reason? Lenders have more LOs these days.

“That meant that LOs had to share the loans a little bit,” said Lori Brewer, founder and CEO of LBA Ware.

Another reason could be that the refi wave may be showing signs of drying up, though the jury is still out on that given the recent decline of the 10-year details ⇒

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