Here you will find the Top 5 problems loan providers are Facing With Loan Officer Compensation
As loan providers gear up to attract brand new loan officers (LO), numerous keep these things are requesting unique or complex payment 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 payment, and provides guidelines to loan providers to meet up with compliance requirements, while attracting the essential talented loan officers.
MReport: What trends have you been seeing when it comes to loan officer settlement?
Ludlow: The trends that we’re seeing with loan officer settlement now relate primarily to being imaginative inside the Dodd Frank guidelines. After which additionally, an increased curiosity about making certain you’ve got a xpresspaydayloan promo code method that is auditable and that can be evaluated if you have regulatory review down the road.