As loan providers gear up to attract new loan officers (LO), numerous keep these things are asking for unique or complex settlement plans. The challenge that is real face is adjusting their settlement intends to these needs, while complying with customer Financial Protection Bureau (CFPB) standards.
Joe Ludlow, VP at Advantage Systems shares his insights concerning the present styles he’s seen in loan officer payment, and provides guidelines to lenders to satisfy conformity criteria, while attracting the absolute most loan that is talented.
MReport: What styles have you been seeing with regards to loan officer settlement?
Ludlow: The trends that we’re seeing with loan officer payment now relate primarily to being imaginative inside the Dodd Frank guidelines. After which additionally, an increased curiosity about making certain you’ve got a system that is auditable and that can be evaluated if you have a regulatory review down the trail. Continue reading “Here you will find the Top 5 problems loan providers are Facing With Loan Officer Compensation”