Have you watched our video on the topic of Loan Originator Compensation – Current Topics? Tom Black first addresses what the current law will not allow with respect to LO Comp. For example, LO Comp may not be based on a loan term or proxy for a loan term. Then, he walks us through six fact patterns — likely scenarios — and how the current law would impact the outcome of each.
As always, we welcome your calls and emails. By the way, be sure and check out our Resources page on the Black, Mann & Graham website for tools to stay current on rules and regulations that govern our business. If you like, you can also join our mailing list to receive our Clients & Friends memos sent directly to your inbox, for timely overviews, thoughts, and interpretations from us on relevant industry topics.