The Question Dave Weston Gets Asked Almost Every Week

How do you get paid? It is one of the most common questions Dave Weston at the Dave Weston Group with Hallmark Home Mortgage receives and it is also one of the most important ones a borrower can ask because the answer determines whether the person giving them mortgage advice has a financial interest in the outcome of that advice.

How Dave Weston Is Not Paid

Let us start there because it matters. Dave Weston is not paid based on which loan program you choose. He is not paid more if you select one product over another. He is not paid based on the interest rate you choose. A higher rate does not produce a larger paycheck for him. And he is not paid based on the fees you pay at closing. The fee structure of your transaction does not affect his compensation.

That means there is no financial incentive built into his compensation that would push him toward recommending one loan over another based on what it would produce for him rather than what it would produce for you.

How Dave Weston Is Actually Paid

Dave Weston is paid by the company he works for. Hallmark Home Mortgage makes its money by originating thousands of home loans each month and selling those loans on the secondary market to investors like Fannie Mae and Freddie Mac. That is how the mortgage industry's business model works at the lender level and it is what funds the compensation structure for the loan officers who work within it.

The practical implication for borrowers is that Dave Weston's job is not to steer you toward one loan program over another based on what benefits the lender most. It is to help you identify the loan that is best for you and your family given your specific situation, goals, and financial picture.

The Paycheck That Matters Most

As Dave Weston explains the greatest paycheck he ever receives is when a client trusts him enough to introduce him to their friends, family members, and coworkers. That referral is the vote of confidence that comes from a borrower who felt well-served and who believes enough in the experience they had to put their own reputation behind it by making a personal introduction.

That is the outcome a loan officer who is genuinely focused on doing right by each client builds toward with every transaction. Not a single closing. A relationship that produces the next one.

Dave Weston with the Dave Weston Group at Hallmark Home Mortgage helps families build, protect, and transfer wealth through real estate. Reach out anytime with questions about the mortgage process and what the right loan looks like for your specific situation.

Sources

ConsumerFinancialProtectionBureau.gov
FannieMae.com
MortgageNewsDaily.com
Investopedia.com
NationalMortgageProfessional.com