When it comes to attracting and retaining top loan originator talent in the era of the Consumer Financial Protection Bureau, it looks like independent shops may be the game to beat. One key issue now is whether depository institutions will step up to compete for the top talent in the mortgage space. “If we look back to 2008-2009, the brokers fled as quickly as they could to the independents, the depositories, just everywhere they could, to be able to operate and manage their business,” Drew Waterhouse, managing director of Hammerhouse LLC, said during an Inside Mortgage Finance webinar late last week. As the playing field has become more level with all the different regulations that have been brought to bear since then, “you see...
Republican members of the House and the Senate have introduced legislation that would nullify the Department of Labor’s much-anticipated white-collar overtime exemption rule now under review at the Office of Management and Budget. Introduced jointly by GOP members of the House Committee on Education and the Workforce and the Senate Committee on Health, Education, Labor and Pensions, the bill would stop the DOL’s proposed expansion of mandatory federal overtime pay in its tracks. The bill, Protecting Workplace Advancement and Opportunity Act, would provide...
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