Sentences with phrase «on loan officer compensation»
Not exact matches
Some lender compensation plans include bonuses based on year - end numbers (within the restrictions of the Dodd - Frank Act), so you may get a motivated loan officer to expedite your refinance before year - end.
https://themortgagereports.com/
The proposal would also prohibit payments to a mortgage broker or loan officer that are based on a loan's interest rate or other terms, and prohibit lenders from steering consumers to transactions that are not in their interest in order to increase the lender's compensation.
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.
On June 19, 2012, NAR President Moe Veissi met with Richard Cordray, Director of the Consumer Financial Protection Bureau (CFPB) to discuss a wide range of topics including the Qualified Mortgage (QM) and RESPA / TILA rulemakings, as well as upcoming rulemakings covering servicing standards and loan officer compensation.
While there will undoubtedly be a fair amount of additional guidance issued, any remaining actions should focus on adjustments to regulations like the Ability to Repay / Qualified Mortgage, Loan Officer Compensation, and the RESPA / TILA harmonization, to name a few.