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.
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