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Groups Propose Reforms to Originator Compensation Rules

Sept. 27, 2018 — ICBA joined other trade groups in calling on the Bureau of Consumer Financial Protection to reform compensation rules affecting mortgage loan originators. In a joint letter, the groups urged the bureau to allow originators to voluntarily alter their compensation on a loan to “meet the competition” or to offer loans under certain state and local programs. These changes would provide lenders with more flexibility to meet consumers’ needs, the groups wrote.

Read Joint Letter

 

 

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