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Lykken on Leadership: The Compassionate Side of Leadership
Halloween may be behind us, but there is still a scary nightmarish crisis facing us! Do you know what it is? This crisis is far worse than loan originator (LO) compensation changes, worse than the...
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Loan Originator Compensation: The Regulatory Examination
Since April 6, 2011, the mortgage industry has been required to implement the new loan originator (LO) compensation rules (Rule).Click to continue
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Now More Than Ever, Your Participation is Needed
Last March, more than 200 mortgage professionals from across the country convened in Washington, D.C. to participate in the National Association of Mortgage Brokers Legislative & Regulatory...
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MAMP Hosts Regulatory Roundtable Discussion
Sponsored by the Maryland Association of Mortgage Professionals (MAMP), over 100 business owners and managers gathered on Feb. 15 to learn the latest laws and regulations governing loan originator...
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Five Keys to Effective Sales Leadership in a Post-Dodd-Frank World
The Dodd-Frank Act and the Federal Reserve Board’s loan originator (LO) compensation rule, which came into effect a little over one year ago, created some serious challenges for leadership in the...
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LO Comp Proposal Issued by the CFPB
The Consumer Financial Protection Bureau (CFPB) has announced its latest proposal to bring greater transparency to the mortgage marketplace and simplify the understanding of mortgage costs and...
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Multi-State Mortgage Committee Releases Annual Report to State Regulators
The Multi-State Mortgage Committee (MMC) has released the 2011 annual report to state regulators highlighting accomplishments of 2011 and outlook for 2012. The MMC was created in 2008 by state...
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The Future of the Mortgage Broker and Correspondent Markets (Part III)
With the news of Wells Fargo departing wholesale and the likelihood of an annoying media response, I could not help but again voice some reason into the industry with another sequel into part three of...
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Homeownership is Under Attack
Title XIV of the Dodd-Frank Act states that a creditor may not make a mortgage loan without first determining that the borrower has a reasonable ability-to-repay the loan, meaning mortgage companies...
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CFPB’s LO Compensation Measure Detrimental to Consumers
The Consumer Financial Protection Bureau (CFPB) has released its final rules on loan originator (LO) compensation.Click to continue
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CFPB Director Cordray's Nomination Unconstitutional?
The U.S. Circuit Court of Appeals for the D.C. Circuit has ruled that President Obama’s “recess” appointments to the National Labor Relations Board (NLRB) last January are invalid. “The D.C. Circuit...
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NAMB Preps for 2013 Legislative & Regulatory Conference
As I look ahead to getting ready for the NAMB 2013 Legislative & Regulatory Conference, I am drawn back to my first experience in Washington. I traveled to D.C. with a delegation of about 20 from...
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Loan Originator Compensation: Past is Prologue (Part I)
“In the economic sphere an act, a habit, an institution, a law produces not only one effect, but a series of effects. Of these effects, the first alone is immediate; it appears simultaneously with its...
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Steering Consumers to Expensive Mortgage Loans
The Consumer Financial Protection Bureau (CFPB) announced that it had filed a complaint yesterday in a federal district court against Utah-based Castle & Cooke Mortgage LLC (C & C) and two of...
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Mortgage Broker or Mortgage Lender?
In mortgage circles, the question of “Mortgage broker or mortgage lender?” is a matter of passionate debate equal to the questions of Keynesian Theory among economists, or the designated hitter among...
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