How much does an entry-level mortgage loan originator earn as a salary?
The Mortgage Loan Originator job is mainly obtaining loan applications from prospective buyers of properties. The earnings are commissions from those loan applications that are closed by the lender.
Lenders who hire and train entry-level MLOs pay salaries as it takes some time to maintain a steady flow of closed loans.
The pay arrangement is changed to commissions only once there is a steady inflow of applications to the lender.
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