MLO Compensation -What You Need to Know
N/A - Recording & presentation from November 9th
When: Recording of the November 9th program
Cost : $50 Members / $95 Non-members
MLO Compensation enforcement actions are on the increase.
On November 9th the MMBA offered the below program. The presentation and video are available to you using the registration link.
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?
Our panel of experts will discuss these issues and more!