Post Title
Please take a few minutes to read about the rapidly expanding CFPB and think about what it means to you.
The article explains that the new CFPB chief has much broader enforcement plans, including having already hired a multitude of attorneys and is looking to hire more.
Hence the title -
“Get ready to Duck and Cover.”
What does that mean for you as an originator?
More compliance isn’t a bad thing. But know this - more audits and more regulatory oversight dramatically increases EXPENSES and in an already thin margin business, what will that do to the originators? Companies will need to increase margins.
- HOW will they do that?
- Higher Rates
- Lower Commissions
- Decreased benefits
- Less accessibility to low margin programs
- This is already happening
- Tighter control of volume and goals
- Open your own shop and spend all your time and money managing investor relations, NEW Additional Federal Compliance and State Regulatory Oversight, bookkeeping, and payroll,etc
OR
Move your business or branch to Innovative Mortgage where we will handle ALL of the administration and are well positioned with our state and federal regulatory partners.
Let Innovative Mortgage cover the expense and time associated with these endeavors and you focus on what makes you money - SALES!
Our Comp Plan: Your choose your comp - $695/deal for Innovative & YOU KEEP THE REST.
To find out more please click
here
and check out our 100% Compensation Platform - where we don’t Duck and Cover, we Sell and get Paid!
See Our Simple Compensation Agreement and Join Now