On May 23, 2012, The Consumer Financial Protection Bureau CFPB held a small business review panel to evaluate proposed changes to the Federal Reserve's Loan Officer Compensation Rule as well as offer alternatives as to how borrowers can be charged fees and points. (nar.realtor)
Much of the impetus behind the compensation rules had been the belief by regulators and legislators that the historical lack of oversight of loan officer compensation allowed unscrupulous loan officers and mortgage brokers to take advantage of consumers. (mortgagecompliancemagazine.com)
This is why Real Estate got into trouble... Not disclosures, not loan programs, not loan officer compensation... (mnrealestatedaily.com)