Important Update on LO Comp

Update on LO Comp & FHA MIP increase

Category:

News & Politics

Tags:

• FED
• rule
• LO
• Comp
• NAMB
• federal
• reserve

[Regulatorsrunwild]

Mr. Anderson thank you and NAMB for actually fighting this rule. The rest of the real estate industry has been sitting on the sidelines whereas NAMB has taken the forefront of this devastating rule. Our bank is going to donate $15k to NAMB's cause because quite frankly all of the other associations we belong too have completely dropped the ball. Our best hope of getting this rule lies with NAMB and no one else.

Thank you Mr. Anderson and NAMB!!!!!!!!!!!!!!!!!!!!!!!!!!­!!!!!!!!!!!!!!!!!!!!!

[essentialminute]

@Regulatorsrunwild Thank you so much. We are giving it all we have

[jewjaw2009]

The idea about $25 per to raise some quick cash is great. Maybe give it a 'fight the Feds' charter membership starter label.

Win, Lose, or Draw at least you're in the fight!! Thank You.

[Regulatorsrunwild]

You are a rock star Sir.

[TheEttingoff]

Thanks Phil...I would like to contact you about this...I think I can help

[primecapital]

I have been contacting both wholesale lenders as well as brokers in my area to see if anyone has developed a template or sample compensation agreement as required by lenders. Additionally, a sample loan originator agreement is required as well. Does anyone know where either/both of these agreements can be found? It's amazing to me the industry that is requiring the agreements does not make a sample available.

[dcslb]

The lack of membership in NAMB is embarrasing for our indstry. We are constantly in reactive mode against not only the Fed, HUD and Congress but also NAR and MBA. Get out the membership folks, get your l/o's to sign up and join NAMB, numbers talk and NAMB's membership is barely a whisper.

[davidprulhiere]

Here is an idea on how to raise money and membership.

In a prior video you said there were 155,000 loan officers and only 5500 members. Do a "trial membership" for $25 and see if you can get 100,000 members overnight. This would put 2.5 million in the coffers and then you can show what NAMB can really do for brokers.

Make the dollar amount whatever you want, but make it ridiculously affordable. Then send an email to every loan officer out there. and then brokers will b heard.

[davidprulhiere]

In my opinion you shouldn't just delete the negative comments. Address them and answer the questions - even if they are posted rudely.

To get a larger membership, it is important for the loan officers to feel like they can trust NAMB and know where the money is going.