Brokerage FAQs
Our brokerage offers competitive commission rates, transparent costs, and straightforward contracts, ensuring a seamless partnership for your business growth.
Commission
What is your commission split?
We have three options
1) Performance Split
2) Flat Fee
3) Sub-Broker Flat Fee
What is a Performance Split?
A performance split is based on your current yearly performance. The higher your yearly volume the better your split
What is a Flat Fee Model?
A Flat Fee model is a fixed monthly amount depending on the term you choose and you keep 100% of the Fees Earned.
What is a Sub-Broker Model
A sub-broker model is when you continue to operate your brokerage and have your own E&O insurance but work with the rest of the collective to pool volume and pick and choose any of the other services on a pay as you go basis.
Do you pay volume bonus?
YES we pay VB & EB for funded deals.
Does the commission split and/or volume bonus vary based on production? If so, what are the levels?
Each lender has a different criteria, we include agents based on the lender guidelines.
Do you have a minimum level of production that I must meet to remain an agent with you?
| – Performance Splits | NO Minimums if you hit minimum monthly targets |
| – Flat Fee | NO Minimums for our Flat Fee Model |
| – Sub-Broker Model |
Costs
What are the costs to join?
NO Cost to Join Our Team at Cashin Mortgages.
How much does your Errors and Omissions Insurance cost?
$350 + depending on your mix of business. Private, commercial and construction will be higher.
How much does a credit bureau report cost?
$9-$12.00 As of October 2024 there is an additional PEP & Restricted Person Check + Digital ID Verification.
Do I have to be a member of CMP or CMBA?
Currently we are not members of CMP. If we join then every agent is required to join.
CMBA is an individual choice.
Do you charge agents any other costs? If so, what are they?
NO Hidden Fees.
Contract
Do you have an agent contract that I have to sign?
YES, we lay out your rights clearly and no hidden clauses or conditions.
Does the contract have a term during which I cannot work for another brokerage if I leave?
NO.
How much notice must I give if I decide to leave?
15 Days.
Training
Do you provide training?
YES is the short answer. However there are many forms of training. and Brokerages seem to over sell this feature.
If so, at what location or is it online?
Most of our training has gone to online since 2020. However, there are still in person opportunities and industry events.
If so, on what topics?
Credit adjudication, Underwriting, Client interviews, Sales, How to use technology etc.
If so, how often?
At your own pace and as scheduled.
If so, is there a cost to me?
NO, if there are any additional costs you will be made aware and would have to agree ahead of time.
Do you have lenders attend meetings to provide agents with information?
YES is the short answer. However there are many forms of training. and Brokerages seem to over sell this feature.
If so, how often?
For the most part it is self learning and at your own pace.
If so, at what location?
YES, and there are a library of videos in the online Academy.
Policies and Procedures
Do you provide a compliance manual so I'm aware of your compliance policies?
YES is the short answer. However there are many forms of training. and Brokerages seem to over sell this feature.
Do you provide a file checklist so I know what I have to submit to get paid?
Most of our training has gone to online since 2020. However, there are still in person opportunities and industry events.
Do you have a Policies and Procedures Manual for your agents?
Credit adjudication, Underwriting, Client interviews, Sales, How to use technology etc.
Do you provide me with a website?
At your own pace and as scheduled.
Can I change its content?
NO, if there are any additional costs you will be made aware and would have to agree ahead of time.
Do you provide updated content?
YES is the short answer. However there are many forms of training. and Brokerages seem to over sell this feature.
Is there any cost?
For the most part it is self learning and at your own pace.
Does it have an online application that submits the application to me?
YES, and there are a library of videos in the online Academy.
Support
Do you provide help on deals that I do not know which lender to use?
Basic help is no charge, Underwriting and sharing files you will need to share your commission, Mentoring is additional
Do you have a central underwriting department that can handle a deal that I can't do? If so, what is my commission split?
YES, there is a National Deal Desk.
What is your process if I disagree with a lender that declines an application?
You Escalate the deal as long as you can back up your “WHY” within the underwriting guidelines.
Do you provide office space for me to meet with clients? If so, is there a cost?
We have an office but most clients now meet virtually or at a location that is good for them.
Do you advertise? If so, do I get any leads from your advertising? Is the commission split different on these leads?
We advertise, we have an inhouse digital marketing department that will help at a cost depending on the level of service.
General
How long have you been in business?
Since 2013
Are there any lenders you do not deal with? Why?
YES, we tend to support a group of lenders that service us efficiently.
Do any lenders not deal with you? Why?
NO
What origination software do you use?
We are agnostic and you get your choice of origination platforms FILOGIX, FINMO, BOSS, SCARLET, VELOCITY.
Do you provide training on using that software and if so, when, where and is there a cost?
YES, there is online training but most of it is done by the customer or by technology now. Application auto fills.
