As loan providers gear up to attract loan that is new (LO), many keep these things are asking for unique or complex settlement plans. The challenge that is real face is adjusting their settlement intends to these needs, while complying with customer Financial Protection Bureau (CFPB) standards.
Joe Ludlow, VP at Advantage Systems shares his insights concerning the present styles he’s seen in loan officer settlement, and provides guidelines to loan providers to generally meet conformity requirements, while attracting the absolute most skilled loan officers.
MReport: What trends are you currently seeing with regards to loan officer settlement?
Ludlow: The trends that we’re seeing with loan officer settlement now relate primarily to being imaginative in the Dodd Frank guidelines. After which additionally, a greater fascination with making certain you have got a method that is auditable and will be evaluated if you have regulatory review down the trail. Therefore it’s actually a couple of things: freedom and auditability. Those will be the a couple of things that appear to be driving all of the decisions now. Continue reading “Here you will find the Top 5 dilemmas Lenders are Facing With Loan Officer Compensation”