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Your clients have always benefited from competitive ING MBS rates for their mortgages. We believe it's time you should benefit
from a competitive finder's fee program from ING MBS. Starting April 1st, we are launching a new and competitive ING MBS incentive
program developed just for you. From the first dollar funded, you'll be earning up to 30 basis points* (bps) more than you
did before!
Read below for the exciting program details.
The finder's fees you earn on all 6 month to 4-year terms have been increased, meaning you earn more for every deal funded
through ING MBS.
| Term |
Finder's Fee (basis pts) ending 31-Mar-04 |
Increase (basis pts) as of 01-Apr-04 |
New Finder's Fee(basis pts) |
| 6 month |
25 |
30 |
55 |
| 1 year |
35 |
20 |
55 |
| 2 year |
35 |
20 |
55 |
| 3 year |
45 |
10 |
55 |
| 4 year |
60 |
5 |
65 |
Simply fund $3 Million worth of mortgages with ING MBS and you will instantly start earning 15 basis points on top of our finder's fee for all terms. And, to thank you for reaching the $3M mark, we'll also send you a $4500 bonus cheque.
Total Funded Deals Greater Than or Equal to $3M
| Term |
New Finder's Fee(in bps) |
Finder's fee + 15 bps bonus(in bps) |
| 6 month |
55 |
70 |
| 1 year |
55 |
70 |
| 2 year |
55 |
70 |
| 3 year |
55 |
70 |
| 4 year |
65 |
80 |
| 5 year (includes ARM) |
85 |
100 |
| 7 year |
110 |
125 |
| 10 year |
125 |
140 |
Earning an additional 2.5 basis points is easy. Simply fund 25 or more deals with ING MBS and maintain a conversion ratio**
of 80% or greater and you can earn an additional 2.5 BPS on the total mortgages funded. That's 2.5 basis points on top of
the finder's fees you're already earning. Plus, if you've earned the volume bonus, you can earn the conversion bonus on top
of it!
Example 1. Conversion Ratio calculation.
If you submit 100 applications, 80 of those applications must convert to a funded mortgage to achieve an efficiency ratio
of 80%
| Total applications submitted |
100 |
| Total deals funded |
80 |
| Conversion ratio (80/100) |
80% |
Example 2. Efficiency Bonus Calculation.
The 2.5 bps bonus calculation will be based on the total value of the funded mortgages that meet the 80% efficiency ratio.
| Total applications submitted |
31 |
40 |
| Total deals funded |
25 |
25 |
| Conversion ratio |
81% |
63% |
| Total value of mortgages funded |
$5M |
$5M |
| Conversion/Efficiency Bonus |
$5M x 2.5 BPS = $1,250 |
0 |
Remember, with our new incentive program, you will earn increased finders fees, a $4500 volume bonus, and a conversion bonus of 2.5 basis points. This program is effective April 1st, 2004. Don't miss out on your opportunity to make more money.
PS. Don't miss out. New ING MBS Broker Incentive Program starts April 1st.
*Finders fee increase of 30 basis points available on a 6 month term mortgage.
**Conversion Ratio = Deals Funded / Applications Submitted = 80% or greater
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