Following the release of the QM and Ability to Repay rules from CFPB, I decided to try to read through the proposed Loan Originator Compensation rules. I found this pretty interesting. Instead of making additional regulations for Mortgage Originators who work at banks or credit unions, why not just make them subject to the SAFE Act and require them be licensed?
Why would a consumer work with a non-licensed Mortgage Originator?
Filed Under: Home Buying, Refinancing & Home Equity Tagged With: banks, licensed, nmls, safe act
