CommercialApps.com LLC, an Irvine, Calif.-headquartered technology solution provider to the income-property mortgage industry, says that mortgage loan originators are now compensated for using CommercialApps.com (CAPPS).
For loan applications submitted through CAPPS and closed, CAPPS compensates the originator five basis points of the funded loan amount. This marketing compensation will encourage the recipient to refer colleagues to CAPPS to earn additional income from the application as well, the company states.
CAPPS is an online service that allows mortgage loan originators in the U.S. and Canada to prepare and submit multifamily and commercial property loan applications to local, regional and national income-property lenders.
