Defining Closing Loan Processor/Officer Incentives

The Product Group Closing Loan Processor/Officer - New/Update window lets you set up the incentive amounts for a closing loan processors and officers based on loan balance.

How do I?

To open the Product Group Closing Loan Processor/Officer - New/Update window, under Cross Sell on the Portico Explorer Bar, click Administration. On the Maintenance top menu bar, click Maintenance, then click Product Groups. The Product Group - List window appears. On the Product Group – List window, select a product group row and click Incentive to open the Product Group Incentive - Update window. On the Product Group Incentive - Update window...

  • Click the status or processor/officer to open the Product Group Closing Loan Processor/Officer - Update window and update the incentive information.
  • To add a new incentive record, click New to open the Product Group Closing Loan Processor/Officer - New window and enter new incentive information.

To set up the incentive amounts for a closing loan processors and officers based on loan balance, complete the following steps:

  1. Click the Status down arrow to select the credit union-defined status.
  2. Click the Individual down arrow to select Loan Officer or Loan Processor.
  3. In the Balance From field, enter the minimum loan balance that would qualify the loan officer or processor for the incentive amount.
  4. In the Balance To field, enter the maximum loan balance that would qualify the loan officer or processor for the incentive amount.
  5. In the Incentive field, enter the incentive amount that will be credited to the loan officer or processor if the loan balance falls within the minimum and maximum balance amounts.
  6. Click Save to save the incentive amounts and close the window.

For a loan processor (or loan officer) to receive the incentive for a sale:

  • At least one incentive amount must be defined in the Closing Loan Processors and Officers grid for loan processor (or loan officer)
  • A name must be selected from the Loan Processor drop-down list on the Sale window, and
  • A sale amount must be entered on the Sale window and the amount must fall within at least one of the loan balance tiers defined for loan processor (or loan officer) on the Closing Loan Processors and Officers grid.

Field Help

Status

Click the down arrow to select the credit union-defined status.

 

Individual

Click the down arrow to select Loan Officer or Loan Processor.

 

Balance From

The minimum loan balance that would qualify the loan officer or processor for the incentive amount.

Length: 12 numeric

 

Balance To

The maximum loan balance that would qualify the loan officer or processor for the incentive amount.

Length: 12 numeric

 

Incentive

The incentive amount that will be credited to the loan officer or processor if the loan balance falls within the minimum and maximum balance amounts.

Length: 7 numeric

 

Save

Click Save to save the incentive record and close the window.

 

Cancel

Click Cancel to close the window without saving the incentive record.