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Legislation that will benefit originators lacks industry support

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Mortgage Professional America | 08 Sep 2015, 06:30 AM Agree 0
Not enough originators are contacting their Congressional representatives to cosponsor a bill that will benefit them, according to one industry association
  • Larry D. Shutes | | 08 Sep 2015, 12:14 PM Agree 0
    At this email address but you do not include and address, lacks a little detail!
  • Dumb Founded | | 08 Sep 2015, 08:07 PM Agree 0
    The comment section isn't supposed to be free advertising. They probably removed his info.

    Regarding the post, does noone realize since these changes were made and small brokers were forced out of business, now there is NO ONE willing to do THESE small mortgages. The big banks don't want them because they don't make enough money from them. The mortgage officers don't want to waste their time doing them because each mortgage is SO difficult now (and the smaller mortgages even moreso) and there is NO compensation for them.
    The lenders do build their payment into the rates but the mortgage officers do not share in that; we make a flate percent based on volume.
    The small mortgages are just not worth it anymore - at all. Thanks Govie! Your changes screwed the little people AGAIN -who were fine with paying $2000 for all the work done to get their files done. The small broker made a decent FAIR amount and so did the mortgage officer. The caps were fine so there was no reason to change them.
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