Walter Investment fined $29.6 million for False Claims Act violations

Walter Investment fined $29.6 million for False Claims Act violations

Subsidiaries allegedly submitted false reverse mortgage claims to HUD

The Wrap: Appraisal volume ticks down after two weeks up

New tips, tools and tricks of the trade

Dear Parents, don’t expect your homebuying Millennials to pay you back

loanDepot graph shows they can barely save for retirement
W S
Lending / The Ticker

Loan officers commend CFPB lender compensation ruling

/ Print / Reprints /
| Share More
/ Text Size+

The Consumer Financial Protection Bureau decided not to count compensation a lender pays its loan officer employees toward the 3% points and fees cap in the Qualified Mortgage rule, National Mortgage News reports.

"The fact that they are not including compensation paid to a loan officer is huge," said Larry Platt, a partner at K&L Gates. "I think they listened to the industry," he said, and realized that adding LO compensation to the points and fees would have an adverse impact on the availability of credit.

Read full story

Recent Articles by HousingWire Staff

Comments powered by Disqus