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BankersOnline.com Forums Dodd-Frank Final Rules Discussions Loan Originator Compensation Rule LO Referral Compensation Excluding RESPA Loans
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#1868260 - 11/05/13 12:10 PM LO Referral Compensation Excluding RESPA Loans
cheech Offline
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Joined: Jun 2010
Posts: 207
Chatsworh PA
Can we pay a loan officer a referral fee for all loans except RESPA loans.

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Loan Originator Compensation Rule
#1868261 - 11/05/13 12:27 PM Re: LO Referral Compensation Excluding RESPA Loans cheech
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,364
Galveston, TX
I am not aware of any limitations on incentive pay for loan originators outside of those covered under Regulation Z, as long as the program is not designed to somehow defeat the current regulations.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#1868264 - 11/05/13 01:11 PM Re: LO Referral Compensation Excluding RESPA Loans cheech
cheech Offline
100 Club
Joined: Jun 2010
Posts: 207
Chatsworh PA
No, thanks.
Last edited by cheech; 11/05/13 06:41 PM.
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#1868427 - 11/05/13 04:52 PM Re: LO Referral Compensation Excluding RESPA Loans cheech
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,364
Galveston, TX
I think I answered that question or are you looking for a second opinion?

The MLO compensation rules are in Regulation Z and really have little to do with RESPA.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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