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January 29, 2014

Short Takes: Fake Rate Sheet to Lure Loan Officers? / Rising Home Equity Not Saving Consumers From Foreclosure / Sharga on Rising Home Values / Compass Point Bullish on NMI / Norcom Continues Wholesale Expansion / CFPB Accuses PHH of MI Kickbacks

By Paul Muolo

Industry consultant Joe Garrett is telling clients that, “We’ve heard of at least one company that uses a fake rate sheet when recruiting loan officers. As you can guess, it shows really great rates, all fake, of course.”

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Poll

In 2016, what have you been paying your retail residential loan officers, on average, as a commission?

25 to 50 basis points per loan
51 to 75 bps
76 to 100 bps
101 to 150 bps
More than 150 bps
We’re a call center lender and don’t disclose that data point.

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