Items Tagged with 'loan originator'

ARTICLES

  • NAMB blasts MBA-backed push for changes to LO compensation rules

    Mortgage broker group tells CFPB that proposal is “completely unacceptable”
    Last year, nearly 250 senior executives at some of the nation’s largest mortgage companies asked the Consumer Financial Protection Bureau to change the Loan Originator Compensation rule, which governs how much loan originators are paid. The lenders asked the CFPB to allow LOs to voluntarily reduce their compensation to allow them to compete in the market. Now, that group has a rather vocal opponent stating that those proposed changes are a “completely unacceptable” idea.
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  • Hundreds of mortgage execs ask CFPB to change LO pay rules

    MBA members push for loan officers compensation change
    Almost 250 senior executives at some of the nation’s largest mortgage companies want the government to make changes to the rules surrounding how they’re allowed to pay their loan originators. Last week, the group of mortgage execs (organized by the Mortgage Bankers Association) sent a letter to the CFPB, calling on the bureau to change its Loan Originator Compensation rule.
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  • Cloudvirga launches new mobile POS product

    Aims to enhance efficiency in the lending process
    Cloudvirga launched a new mobile mortgage point-of-sales solution for loan originators and homebuyers in the purchase mortgage market. The Mobile POS is backed by the same tech that runs the Enterprise POS, which won Cloudvirga a HousingWire Tech100 award.
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  • NAMB urges CFPB to re-examine policies

    Asks bureau to develop process to reclassify consumers’ submissions
    The National Association of Mortgage Brokers recently asked the Consumer Financial Protection Bureau to address immediate changes needed within the Consumer Complaint and Consumer Inquiry Handling Processes. NAMB states that the bureau falsely reported that consumers were experiencing extensive issues with mortgage brokers, but 90% of complaints were registered against lender and bank loan originators, not mortgage brokers.
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  • Calyx Software launches borrower loan interview solution Zip

    Prospective borrowers can interview online or via a mobile phone device
    On Thursday, mortgage software solution provider Calyx Software announced the launch of Zip, a new loan interview platform for loan originators to use with prospective borrowers. Calyx explains that Zip was developed with “today’s borrower in mind,” and allows LOs to interview prospective borrowers via a custom, branded URL.
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  • House approves changes to TRID rule, loan originator licensing rules

    Bill brings changes to SAFE Act rules for nonbank originators
    The House of Representatives last night approved a bill that could bring big changes to the mortgage industry, including making it easier for loan originators to move from a traditional bank to a nonbank. The bill would also bring changes to the CFPB’s TRID rule. Here are the full details.
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