Paying Your Lenders

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					      o p e r a t i o n s                              LENDER LIFE




                                    
				
DOCUMENT INFO
Description: In the seemingly endless waves from America's mortgage storm surge, the latest to hit is a dramatic change in how mortgage originators will be compensated. The Dodd-Frank Wall Street Reform and Consumer Protection Act calls for an end to mortgage originator compensation based on the terms of the loan issued. Many community bankers have opposed the new mortgage originator compensation rules, arguing that they will raise costs and perhaps limit the range of mortgage options customers enjoy. Coping with the raft of regulations stemming from the Wall Street Reform Act may not be easy. That said, community banks tend to be in a relatively good position regarding the mortgage origination compensation rules because they typically lend to longstanding customers and don't resort to confusing or overly aggressive sales techniques.
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