A dozen trade organizations representing all parties to the real estate transaction wrote to Consumer Financial Protection Bureau (CFPB) acting director Mick Mulvaney, advocating for changes to the treatment of loan originators in the bureau’s Loan Originator Compensation Rule that would lift certain restrictions on lenders and loan originators.
The trades argued in their letter that certain restrictions result in consumer harm by denying them access to lower cost options during the mortgage origination process.
Find out more details about what the trades are advocating.