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CFPB has argued that incentivizing loan officers is unlawful

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Josh Hopkins | 29 Apr 2014, 11:56 PM Agree 0
The CFPB has argued that incentivizing mortgage officers to upcharge consumers by distributing bonuses based on the interest rates of mortgages sold is unlawful.
  • Simon Dalambert | | 29 Apr 2014, 11:57 PM Agree 0
    I heard a rumor when the CPFB opened it was paying some of their auditors a percentage of the fines it levied against mortgage companies. Does anyone know if this is true?
  • Edward Gambrill | | 30 Apr 2014, 12:24 AM Agree 0
    Simon, I'd love to see the answer to that question! If the facts are as stated in this case, then the mortgage company should have known better. On the flip side. really, the CFPB is price setting to the advantage of banks and CEO's and that should not set well with anyone.
  • Donald | | 30 Apr 2014, 12:31 AM Agree 0
    Simon - I think that came from the same place as Obama being born in Kenya and Obamacare having death panels
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