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BancGroup Mortgage Corporation, Inc., has one of the foremost compensation plans in the nation. The plan includes:

• commissions based on production;

• 401(k) plans;

• comprehensive medical, dental, life and disability insurance coverage.

COMMISSION STRUCTURE

Commissions are paid semi-monthly, and in accordance with the following schedule of loans which the loan officer has originated, closed and funded, and are subject to offsets or deductions for non-compliance with BancGroup’s pricing policies:

A. All Loans
75 basis points on volume > $1 ,500,000
70 basis points on volume of $1,000,000-$1,500,000
65 basis points on volume of $750,000-$ 1,000,000
60 basis points on volume of $500,000-$750,000
50 basis points on volume < $500,000

B. Overages
Paid at same percentage as commission tier
(max. of 2 points total overage, unless otherwise approved)

C. Overrides
$1,500 bonus is paid to anyone who recruits a proven Loan Officer

D. Threshholds - After certain annual funding volumes have been achieved, the following commissions will be paid for the remainder of that year, regardless of the above outline:
 

Threshhold $ 6,000,000 $12,000,000 $18,000,000

Commission 60 basis points 70 basis points 75 basis points

Commissions on loans funded by the last business day of the month will be paid on the 15th day of the following month. Commissions on loans funded by the 15th day of the month will be paid on the last business day of that month.

401(K) PLAN

Pioneer Funds, the company with which BancGroup invests its 401(k) plans, with the professional assistance of Salomon Smith Barney,  offers mutual funds for 401(k) plans with varying degrees of risk and reward potential. This diversification enables investors to design plans which meet a variety of retirement needs.

MEDICAL, DENTAL, LIFE AND DISABILITY INSURANCE COVERAGE

Medical and dental coverage are available for the employee and the employee’s family members; life and disability coverage are available for the employee. Blue Cross & Blue Shield is the insurance company of choice for BancGroup employees.
 

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