TITLE

Fed's Rule on Broker Pay Sets Off Scramble at Banks

AUTHOR(S)
Berry, Kate
PUB. DATE
February 2011
SOURCE
National Mortgage News;2/7/2011, Vol. 35 Issue 19, p14
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article looks at the efforts of banks such as Wells Fargo and Co. and Bank of America Corp. to adjust their pay plans for mortgage brokers and loan officers to comply with the policy set by the Federal Reserve System on pay limits to restrict the brokers' practice of directing borrowers to high-cost loans in the U.S.
ACCESSION #
58599488

Tags: MORTGAGE brokers -- Government policy;  MORTGAGE banks -- United States;  MORTGAGE loans -- United States

 

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