Good, but could be better - Mortgage Development Officer Sovereign Employee Review

Loan officers and financial planners who are employees do not receive a salary, yet have requirements placed on their time. They are paid a draw against overall commission and are required to log a time card with hours worked. If loans get stalled when processors are too busy, a loan officer could actually end up owing the company money. Loan officers are expected to produce large monthly closed numbers, while the processing centers are seriously understaffed with processors averaging 200 or more loan files at a time.