| May 6, 2011 11:41AM As Dodd-Frank loan officer compensation regulations became a reality in early April, I started seeing new pay practices emerge in my reviews. Several large retail mortgage bankers are now offering a minimum wage to outside referral based loan officers , not just call center originators. Here are some key components of the plans: Minimum wage that ranges from $8 to 12 depending on the loan officer's monthly volume Basis point paid on volume and credited against the minimum wage. The minimum wage is... May 6, 2011 2:57PM After spending the first four months of 2011 in a tight range, the primary mortgage market is now in the midst of a potentially significant shift lower in home loan borrowing costs. Today's jobs report initially caused bond markets to weaken and loan pricing to worsen, but that didn't last long. Headline news helped fuel a reversal early in the afternoon hours which allowed many lenders to reprice rate sheets for the better, leaving borrowing costs very close to yesterday's levels (which happen to...
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