• By Admin
  • Posted Friday, February 16, 2018

Mortgage Commission Advances For Real Estate Agents in California

Commission West, an industry leader in the field of providing cash flow solutions to California real estate professionals, offers fast and efficient mortgage commission advances to help agents and brokers manage cash flow more effectively and grow their business.

Real estate agents and brokers can apply for a mortgage advance of up to $25,000 in only minutes and often receive same day funding. The process is fast and easy with the following steps:

  • Submit an application online at www.commissionwest.com

  • Receive the agreement for review and signature

  • Return signed agreement electronically

  • If received before 2pm, the funds are wired to the account the same day

  • Repay the advance automatically from escrow at closing

The mortgage commission advance requirements are straightforward and make for easy qualification. To qualify for a commission advance, the following minimum requirements must be met:

  • Must be licensed and in good standing through the Nationwide Mortgage Licensing System and in the state that you conduct business

  • Must be with the same office or broker for at least three years

  • Must close a minimum of twelve refinance or new mortgage transactions per year

  • Must have an escrow file opened and scheduled to close within the next sixty days

  • Must have a valid US bank account

A set of mortgage commission advance documents are also required as a part of the application process. These are common documents and easily provided electronically. They are:

  • A valid driver’s license for first time applicants only

  • 1099 or Commission Report for the prior full year

  • Lender’s Broker Compensation Election or Declaration Form specifying the expect commission amount

  • Contract of Sale or Purchase Agreement for new sales or purchases

  • Signed loan application (Uniform Residential Loan Application or Fannie Mae Form 1033)

  • Truth in Lending Disclosure

  • Voided check from the bank account where the commission funds are to be deposited

With Commission West its fast and easy to manage cash flow better and receive mortgage commission advances the same day.


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