More than ever in our industry, we need to be careful that our compensation structures are meeting the most current regulations. In many industries, compensation isn't a regulatory issue. It's merely a component of motivating the workforce. In the mortgage industry, however, we've got much more to worry about.
Allowing LOs to share in the profits. Pooling compensation with each LO having different rates and fees. Paying higher commissions to LOs who bring in more revenue. These are all seemingly innocent activities that could get lenders into a lot of trouble.Click to continue