Loan Officer Compensation Stay is Lifted – Get a Policy

April 6, 2011 - PRLog -- Yesterday, the appellate court lifted the stay of the Loan Originator Compensation Rule. This comes after the initial court ruling on March 31 (one day before the implementation date), ordering a stay until further order of the court. With the denial of any further stays on the rule, mortgage brokers and companies that employ them must comply with the Final Rule. To help lenders and brokers comply, Mortgage Compliance Advisors is announcing the launch of its Loan Originator Compensation Policy. Not only can a written LO compensation plan help implement policies to comply with the Federal Reserve’s Final Rule, but various investors and agencies may require one as well.

Mortgage Compliance Advisors (MCA) is offering three different LO compensation templates to fit multiple organization types: wholesale lender, broker, and retail correspondent. The policies are designed to provide a good legal foundation for an organization’s LO compensation plan, with the flexibility for the company to add its own internal policies and specifics. Depending on the volume of requests, Mortgage Compliance Advisors can generally finish a policy within 48 hours of the request.

To learn more about MCA’s LO Compensation Policy or to request sample pages, please call 877-226-3217 or visit http://www.mortgagecomplianceadvisors.com/index.php/lo-co....

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MCA has the experience and resources to serve all your compliance needs, including QC audits, consulting services, etc. We have grown to serve hundreds of clients nationwide because of our experience, fast turnaround, low prices, and easy process.