Inside: An Inside loan officer will be required to report his/her time in and time out on a daily basis. At a minimum, the LO must receive the state minimum wage for the hours he/she has worked. This minimum wage may be a draw against commission as long as the minimum wage is guaranteed.
Outside: Outside loan officers MUST spend at least 50% of their working day outside of the office. The LO cannot have his/her time managed by Branch Manager or any corporate employee. They must manage their own time. If the loan officer is to be paid on a 100% commission basis (no salary), the Loan Officer must be an outside representative.
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For all new partners/existing partners please contact your HMAC support for account verification & credentials.