LO Compensation

Brokers, just how will the loan origination compensation rules will effect brokers is the topic of an  excellent article in Origination News. It was written by two long-time, veteran mortgage journalists, Mark Fogarty and Brian Collins.

(This blog is a place for brokers and wholesale lenders to come to discuss issues, argue, share ideas and learn new things. I thought this article was worth sharing with you and so created the post with the link. I hope you enjoy it.)

WE’RE HEARING that the Consumer Financial Protection Bureau will be issuing new guidance on loan compensation in June. And that guidance will eliminate “double counting” of LO compensation when a borrower pays an upfront origination fee. For the rest of the story past the following URL in your browser:  http://bit.ly/126VpuY