loan originator

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

Mar 25, 2019By

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.

3d rendering of a row of luxury townhouses along a street

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