Advanced Search

Volume 25 - Number 14

July 7, 2014

Mortgage Brokers Trying to Persuade Bureau to Revise Cap

The National Association of Mortgage Brokers is doing another survey of its membership to determine the amount of closing cost credits given back to consumers at closing during 2013 Ė part of a broader effort on the part of the trade group to persuade the CFPB to loosen aspects of its ability-to-repay rule. Last year, NAMB submitted a letter to the CFPB to detail the mandatory credits a broker is required to provide consumers when rate sheet pricing exceeds the brokerís contractually obligated Lender Paid Compensation agreement. NAMB contends that the mortgage broker community provides mortgage credits back to the consumer that range in the billions annually, thus stimulating the nationís economy. In order to demonstrate this, NAMB polled a number ...

Subscribers to Inside the CFPB have full access to all its stories and data online. Visitors may become subscribers for full access or may purchase individual articles and data.

Subscriber Log In

If you are a current subscriber or already purchased this article, please login below.

Forgot your password?

Already subscribe but haven't registered for all the benefits of the website?


This biweekly keeps mortgage executives on top of the onslaught of new legal and regulatory issues the industry has been seeing.



You can purchase this article for $55.00 without subscribing and always have access to it on

Pay Per View

Please contact Customer Service if you need assistance: 1-800-570-5744


How many new retail loan officers (net) is your shop looking to hire in the first quarter of 2018?

1 to 10. We’re being careful.
11 to 30. We’re feeling slightly bullish.
31 or more. We’re in expansion mode.
None. We’re staying right where we are, for now.
We’re cutting back.

vote to see results