CFPB Targets LO Compensation for 2016

12/11/2015
Featured Video Play Icon

At a recent mortgage conference in Costa Mesa California, CFPB deputy assistant director for originations Calvin Hagins had a lot to say about what the CFPB will be looking closely at in 2016.  LO compensation was at the top of the list.  To see Kate Berry’s article CLICK HERE.

Comments

comments

Comments
  • Nothing happens when I click on the link to access Kate Berry’s article

    Monique December 11, 2015 6:01 am Reply
    • Monique, it worked fine for me. Not sure what to say?

      admin December 11, 2015 6:33 am Reply
  • Kate Berry link does not work-not good guys

    Velinda Shirley December 11, 2015 7:29 am Reply
    • Someone else said that, but it’s working fine for me. Not sure what to say about it. the link is in there. Sorry.

      admin December 11, 2015 8:55 am Reply
  • Thanks Frank – the lemon clip at the end helped but we all now know we are going to look like that when the CFPB shows up at the door. Kind of like what the gustapo used to do in Germany is now happening in America to businesses. Death to mortgage brokers means more people unemployed…Good job CFPB for being the the Grinches that stole Christmas

    Bernie December 11, 2015 9:08 am Reply
  • Can’t wait for the jack booted, brown shirts to knock on my door.

    Viva la Revolucion December 11, 2015 12:08 pm Reply
  • Dianne makes a very good point about the zealots appointed to the CFPB by our elected officials. Truth is not many of them have never been in the trenches working as a loan originator and those that may have worked at lender went to work for the government because they can’t hack the job. What really troubles me is that only 4 people have commented as I write this and that my friends is a sad testament to the state of our industry. No wonder the claimed average age of a loan originator is 54 and soon no one will want the job. I hope McDonalds starts paying $15.00 an hour soon. Oh, BTW, Merry Christmas!

    Bob Perry December 11, 2015 1:23 pm Reply
  • Just listening to the video makes me think that this really can’t be legal. The governemt is tell a free market industry how much they can pay their employees. Does that sound communistic to anyone here?

    Rick Stanley December 12, 2015 8:18 am Reply
  • Frank, that kid is going to put 8-10 tabs of ex-Lax in your hot chocolate or coffee one day. Count on it.

    Jack Shull December 12, 2015 10:09 am Reply
  • Makes a guy almost want to vote for “The Donald”?

    Danny P December 12, 2015 12:43 pm Reply
  • This entire agency needs to be abolished. I’ve used the word gustapo on many occasions in describing this group of human beings. Being self funded and unregulated along with having their own court, judge and jury is completely insane. Can you say socialism???

    David S December 15, 2015 2:07 pm Reply
  • I don’t understand why LO’s are getting treated like this. But the lenders get away with murder.. The damn LO’s don’t approve these mortgages. The lender does.. They issue Hud-1’s not the LO! CFPB needs to go after these lenders. They are ripping people new ones. Not LO’s. They are telling us if we sale this rate we will pay you such and such.. They always want to come after the appraisers, loan processors and LO’s! We just put the papers together and the lenders have the final say so..Wanna get back in the mortgage game, but refuse to do FHA! I hope things will change.. I believe it will.. Because if we don’t make money the lenders and government doesn’t.. So go ahead CFPB make it hard for to the bottom.. Soon it will trickle up.. FASTER THAN A SPEEDING BULLET! And I will be sitting back laughing. This will come to past. Why because the foreclosure and vacancy rate is extremely high!

    Ebonie Cross January 5, 2016 3:42 pm Reply
  • Interesting what and who runs these bureaus. See any patterns? How come the companies like DR Horton can require they us their finance entity or buyers do not get package benefits or same benefits if they choose their own source. Anyone say violation of RESPA????????????
    Just spent numerous hours filling out useless paperwork for the idiots in charge to wipe their (&*^(^(^(^&%%.

    gary j. heinecke March 18, 2016 4:48 am Reply

Leave a Comment

Your email address will not be published. Required fields are marked *

 

Menu Title