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June 17, 2014

Mortgage Broker Employment Takes it on the Chin in April; Blame the CFPB?

By Paul Muolo

“Sadly, the impact of QMs [qualified mortgages] will never been quantified since most LOs will not originate borderline loans,” said New Jersey broker Brian Benjamin.

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Poll

With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.

33%

No. It’s still difficult compliance/regulatory-wise.

20%

Maybe. It’s under consideration.

33%

Not now. But things could change as 2018 progresses.

13%