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Volume 25 - Number 7

March 31, 2014

Want to Make Big $? Work at the CFPB in a Senior Post, Then Leave

The CFPB appears to be having a hard time holding on to some of its top officers who are leaving for more lucrative jobs in the private sector. Then again, no one really expected the government agency to have much luck competing against the deep pockets of megabanks like Wells Fargo. This month alone, Wells Fargo recruited two bureau executives who were considered among its very best, at least in the mortgage space: Lisa Applegate, who was in charge of mortgage rule implementation at the agency, and Pete Carroll, assistant director for mortgage markets.

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

25 to 50 basis points per loan
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