Welcome To BluEleven

As a W-2 Loan Officer, BluEleven agrees to pay Employee on a W-2 “Commission Only” basis.  This W-2 commission shall be based on commissionable receipts earned pursuant to your loan officer Agreement. you are not required to be in the office and can choose your own work hours.

As an Independent Loan Officer, you are not required to be in the office and can choose your own work hours.

There will be a one-time startup fee of $100 to cover expenses such as Background check, business cards, set up your own website (www.yourname.com), company email, NMLS sponsorship, and Microsoft Office products such as (Word, Excel, Power Point, etc.) for Work.

You are responsible for all application fees for all states you want to be licensed in.

You will receive 1099 compensation for most states. Certain states will require you to be W-2.  Due to compliance and simplicity, no Loan Officer can get paid both W-2 and 1099.

1099 compensation: you will get 100% commission on every closed transaction. BluEleven will charge a flat fee of $995 ($495 if correspondent loans) and a $795 processing fee, regardless of the loan amount.

W2 compensation: you will receive 90% of the commission on every closed transaction. The split is after deducting a flat fee of $995 ($495 if correspondent loans) and a $795 processing fee. Please note that you still have to pay all applicable payroll taxes yourself.

Based on your previous 12 months average closings of (2 loans per month or 24 loans per year), BluEleven will provide and cover the cost of BluEleven’s proprietary system – AI integration, Point of Sale “POS”, Customer relationship management “CRM” & Loan Origination System “LOS” system.  

For the first 3 transactions, a BRAND-NEW Loan Officer (no matter if you are 1099 or W2) will earn 80% of the broker’s compensation on every closed transaction. The split is after deducting a flat fee of $995 ($495 if correspondent loans) and a $795 processing fee. You are not a BRAND-NEW Loan Officer if you close at least 7 loans in the past 12 months or at least 10 loans since 2023.