LO COMP

Outside LO COMP, is this fair? (Members)
Outside LO COMP from a broker, 200 BPS - $900 plus processing fees where LO's don't process their own files? I am thinking of area's where the average loan amount is North of 150K and South
http://forum.brokeroutpost.com/loans/forum/2/316294.htm (Replies: 47)
Related tags: [outside lo comp plans.]

LO Comp Rule 1 year later are you doing better or (Members)
Hello everyone, The LO comp rule has been in effect for a year now. Are you doing better or worse since the rule went into effect. Your thoughts... Thanks!
http://forum.brokeroutpost.com/loans/forum/2/312008.htm (Replies: 44)
Related tags: [frank-dodd lo compensation rule]

LO Compensation (Members)
Hey there folks --- Doing well with hourly employees and have designated rate per LO based on last 18, 12, & 6 mos revenue however with the recent influx of volume - is there any suggestion or co
http://forum.brokeroutpost.com/loans/forum/2/306808.htm (Replies: 2)
Related tags: [lo comp]

LO Comp rule month 6 update (Members)
Hello, Every couple of months I am asking everyone on here whats their take on the new LO comp rule.It had been almost 6 months and are you making more or less since the rule has been in effect? Le
http://forum.brokeroutpost.com/loans/forum/2/306737.htm (Replies: 35)
Related tags: [lo comp rule]

"Incentive" versus "Commission" on Borrower Paid (Members)
Interesting read: "Her testimony goes on to say a mortgage broker can pay an “incentive fee” to an employee in transactions where the consumer pays origination fees directly to th
http://forum.brokeroutpost.com/loans/forum/2/304972.htm (Replies: 0)
Related tags: [borrower paid, fed rule, lo compensation, ]

iPhone App from your Lender! (Members)
My lender sends me rate sheets and important correspondents to me via their free iPhone App and I receive push notifications letting me know something important has been sent. I recently wrote about t
http://forum.brokeroutpost.com/loans/forum/2/303684.htm (Replies: 0)
Related tags: [broker lo compensation]

Purchase vs Refi?? (Members)
No doubt the industry has dramatically changed in the last few years and even more recently in the least couple months. With all the changes from lending guidelines, to limited programs, to the late
http://forum.brokeroutpost.com/loans/forum/2/302626.htm (Replies: 9)
Related tags: [purchase loans, refi loans, lo comp plan]

"A Rich Man's Battle, A Poor Man's Fight." (Members)
"A Rich Man's Battle, A Poor Man's Fight." those words were spoken, when the union first initiated the draft during the civil war. At the time, folks that were well off, could pay the go
http://forum.brokeroutpost.com/loans/forum/2/302017.htm (Replies: 6)
Related tags: [lo compensation]

Looking to increase business? Partner with us. (Members)
Ratecomb.com is a fast growing mortgage company with a major online presence. Opportunity: We are interested in establishing strategic partnerships with a select few mortgage brokers in all st
http://forum.brokeroutpost.com/loans/forum/2/301775.htm (Replies: 1)
Related tags: [brokers, leads, lo compensation, lo comp]

I was a fool for giving Obama my vote (Members)
None of this would have happened if McCain was elected. A Democrat will never get my Prez vote again. *@#!*!!!*#%!
http://forum.brokeroutpost.com/loans/forum/2/301692.htm (Replies: 54)
Related tags: [lo comp]

Be there or be square! (Members)
The Fed is having a comprehensive conference call on the New Comp Plan. They ha
http://forum.brokeroutpost.com/loans/forum/2/301108.htm (Replies: 2)
Related tags: [lo comp plan]

Will LO lead programs, come back in style? (Members)
During 2007 and 2008 many large broker shops that provided LO's with leads, fell out of the business. 2009 and 2010 brought higher profits for many of the broker shops that survived,
http://forum.brokeroutpost.com/loans/forum/2/300955.htm (Replies: 3)
Related tags: [lo compensation trends?]

Retail LO's - Post Your Comp Plans Here. (Members)
I feel its important to know what the big banks will be paying their LO's... even if April 1st is delayed or killed all together, the big banks are moving forward with New Retail Comp Plans. Brokers,
http://forum.brokeroutpost.com/loans/forum/2/300835.htm (Replies: 18)
Related tags: [retail bank lo comp plans]

Anyone sit in on the Calyx LO Comp Webinar (Members)
Just sat in on it for an hour and half. One interesting thing: Prohibited Payments include LOAN VOLUME TIERING I was under the impression that paying LOs on Volume (tiers or
http://forum.brokeroutpost.com/loans/forum/2/300344.htm (Replies: 10)
Related tags: [lo comp rule]

All things being equal? (Members)
So Ok…as an originator I am supposed to give the best possible deal to the consumer Starting 4 1 three scenarios to consumer Conv 30 yr fixed rate with Wells 5% paying 1.8 Conv 30 yr fixed rate
http://forum.brokeroutpost.com/loans/forum/2/300268.htm (Replies: 17)
Related tags: [lender comp, lo comp, fed]

Odds on repeal and/or changes to fed rule by 4/1 (Members)
I think they're a 75% chance that the LO comp rule will go into effect on 4 1 as written now based on watching the NAMB videos & reading the numerous posts on this site. I think it might get re
http://forum.brokeroutpost.com/loans/forum/2/300255.htm (Replies: 5)
Related tags: [fed rule, lo comp]

** Must Watch Video from NAMB on LO Comp (Members)
Copy and paste the link below into your browser to watch the video. Video of National Association of Mortgage Brokers Chair of Government Affairs 2010 2011 - Mike Anderson. He is a hard charger who
http://forum.brokeroutpost.com/loans/forum/2/300006.htm (Replies: 1)
Related tags: [lo comp, namb]

Comp Plan (Members)
I work for a place now that provide us with leads and currently pay us a 50% split on all deals. With the changes coming April 1, 2011 they are proposing having all deals priced like this- 1 point to
http://forum.brokeroutpost.com/loans/forum/2/299779.htm (Replies: 8)
Related tags: [lo comp plan]

3 Reg Z Rules pushed off until July 1st - (Members)
Press Release Release Date: February 1, 2011 For immediate release The Federal Reserve Board on Tuesday announced that it does not expect to finalize three pending rulemakings under Regulation
http://forum.brokeroutpost.com/loans/forum/2/299584.htm (Replies: 7)
Related tags: [lo compensation]

NAMB asks FED to answer these questions (Members)
1.NAMB is concerned that the Board has no legal basis for treating mortgage broker companies differently than other firms carrying out the same or substantially similar business operations. Under th
http://forum.brokeroutpost.com/loans/forum/2/299395.htm (Replies: 5)
Related tags: [unfair lo comp rule]

Fed is working on a compliance guide (Members)
Please view the attached link and supply any pertinent questions that you have in regards to the Fed Compensation Rule. NAMB has been told that the Federal Reserve is working on a compliance guide to
http://forum.brokeroutpost.com/loans/forum/2/299326.htm (Replies: 5)
Related tags: [lo compensation]

Will you bet your career on your current employer? (Members)
http: www.house.gov apps list press financialsvcs_dem prconf_061010.shtml "Mortgage Originators. Mortgage originators (i.e., individual mortgage brokers and loan officers) are subject to damage
http://forum.brokeroutpost.com/loans/forum/2/299321.htm (Replies: 5)
Related tags: [lo compensation]

one week to get comments to Fed (Members)
The big banks are promoting call centers which is a lot of the reason we got into this mess. Get those comments in!
http://forum.brokeroutpost.com/loans/forum/2/283149.htm (Replies: 1)
Related tags: [limiting lo compensation]

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