Legal Blog

Compensation and Compliance Matters – September 6, 2013

Loan Officer Compensation: Paying for Mistakes

As many lenders know, the limitations on adjusting compensation on existing loans essentially leave lenders in the position of reducing commissions under very limited circumstances where the loan officer was completely without fault. Of course, it is the opposite situation—where a loan officer makes an inexcusable error or simply violates policies—in which lenders would typically want to have the mistake impact the loan officers’ commission Read more