As loan providers gear up to attract loan that is new (LO), many keep these things are asking for unique or complex payment plans. The challenge that is real face is adjusting their settlement intends to these demands, while complying with customer Financial Protection Bureau (CFPB) standards.
Joe Ludlow, VP at Advantage Systems shares his insights in regards to the present trends he’s seen in loan officer compensation, while offering recommendations to loan providers to satisfy conformity requirements, while attracting the absolute most skilled loan officers.
MReport: What styles are you currently seeing when it comes to loan officer payment?
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, an increased fascination with making certain you have got a method that’s auditable and certainly will be evaluated if you have audit that is regulatory the street. Therefore it’s really a couple of things: auditability and flexibility. Continue reading “Here you will find the Top 5 dilemmas loan providers are Facing With Loan Officer Compensation”