ฝัง
- เผยแพร่เมื่อ 2 มิ.ย. 2024
- The recent 7-2 Supreme Court ruling in favor of the Consumer Financial Protection Bureau (CFPB) will change the industry forever. D.O. delves into the implications of this decision for lenders, banks, and consumers - exploring the areas the CFPB is likely to focus on, such as mortgage servicing, credit reports, and loan officer compensation. 🌊
With the decision backing the CFPB, the path is cleared for more proactive oversight of financial institutions. Stay tuned as we break down this ruling, the buzz from the industry's latest secondary conference, and what it all means for loan officers and consumers alike.
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As soon as I figure out a fraction of what you’ve learned… it’s over !! 😂😂 I spent my entire life working towards this moment.🙏🏾🙌🏿🔥let’s go!
YEA RIGHT THERESE NO RECOURSE THERE ALL IN ON IT!!
What to do when a servicer does not transfer the principals balance when there is a properly accepted endorsed instrument returned to the proper place with instructions attached..
FILE A LAWSUIT
@@user-cs3ih8sr7q breach of contract I suppose?
There is absolutely no way I am doing what we do for less pay. The listing agents, the sellers, and clients who stress you out is not worth working for pennies. Loan officers already made less historically than realtors for similar or more pressure. We are actually under paid (only referring to purchases) and a penny less means a change in career on my end
How about this for perspective, we I entered the industry we made 55-65 bps on average. In 2013, the average commission was $2,000 per loan.
@@dustinowen1191 Honest question, how do I get into being a secondary person or working my way up to the top in secondary? I’ve been originating since 2017 and have been in mortgage since 2006. I heard secondary higher ups do well. What do you recommend?
@@chrisginoc Hmm...You'd most likely start on the Lock Desk and work your way up. You'd have to leverage your network and look for IMB's that are headquartered in your market. My experience is that LO's have the highest ceiling for income and also the greatest flexibility in schedule and most control of their career. I would guess the VP of Capital Markets / SVP of Secondary makes between $180k and $400k per year. And that's the person at the top that reports to the CEO / Owner.
THE AMERICAN WAY IS TO CAPITALIZE!!!