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MMBA’s MLO Compensation – What you Need to Know
November 9, 2023 @ 10:00 am - 12:00 pm
In September, 2023 the CFPB included Loan Originator Compensation in its supervisory highlights.
Are your compensation policies compliant?
Profit margins are extremely tight but lenders still need a competitive compensation package to retain and recruit loan originators. Many lenders are exploring more competitive compensation plans – but are they in compliance with the Truth-in-Lending Act’s rules for loan officer compensation?
- What are the latest trends?
- Are you allowed to reward outstanding compliant behavior
- (or punish for mistakes)?
- Varying compensation by Loan Source – can you and how?
- What does the CFPB consider an illegal “Transaction Term” or “Proxy”?
- Can you defer compensation?
- How can you structure compensation for semi-retired employees?
RIMBA MEMBERS can register at the MMBA Member Price with a RIMBA coupon code