It appears the Consumer Financial Protection Bureau will revisit the issue of loan officer compensation – and maybe even in a way that benefits nonbank LOs. The whole issue is too early to predict, and we suggest you visit the main National Mortgage News website for a just breaking update. Meanwhile, one idea being tossed around Washington is the thought of a 'designation' footnote that would be placed next to a loan officer's name in public registries – an 'r' for a registered loan officer versus an 'l' for licensed loan officer. Stay tuned.
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