Loan Officer Comp. Still in the Wings

OriginationNews‘ Paul Muolo says the Consumer Financial Protection Bureau’s (CFPB) proposed unveiling of its final loan officer compensation rule set for early August has yet to be issued. While the mortgage industry anxiously awaits, some loan officers are suggesting the result might be better the longer the agency waits, hopefully in an attempt to get it right. As MHProNews has learned, if flat fee pricing is the answer, lenders might avoid markets where home prices are more modest. As he so aptly notes, “2% of $100,000 is a lot less than 2% of $500,000. Who knows, maybe the agency is trying to fix this.”

(Image credit: texaslendingtoday)

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