Resi Home Loan Commissions
An important part of the VOW proposition is the RESI Home Loan brand and one particular feature is the ability for RESI to pay twice monthly upfront commissions.
RESI is a Mortgage Manager and has access to multiple funders under the RESI brand. While RESI has 2 commission runs each month it is important to understand how each of the Funders process their commission payments as well.
Please see below for the details on how regular each Funder pays in line with the 2 RESI Commission runs per month:
For RESI Funders (BABL & RESIMAC) settlements from the prior calendar month will be paid in the following calendar month in the VOW Commission run on or around the 25th of each month.
RESI Funders (ADVANTEDGE & PEPPER) pay upfront commissions twice per month, enabling you to be paid commissions in a more timely manner, which is advantageous for your cash flow.
Payments in this instance are as follows:
- Settlements from the 25th of the prior month to the 10th of the current month will be paid in the VOW Commission run on or around the 25th of the current month.
- Settlements from the 11th of the current month to the 24th of the current month will be paid in VOW mid-month commission run on or around the 15th of the following month.
Hope this helps you understand how payments are processed and how you can manage your commission payments.