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Loan officers are dramatically cutting their pay to win clients. It’s often illegal. 

Housing Wire

So he did what a lot of retail loan officers in the industry were doing — Mike would reclassify a self-generated lead as a corporate-generated lead, thus slashing his compensation from 125 basis points down to as low as 50 bps, giving him a low enough rate to win the client and eventually close the deal. Because it’s not true.”

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loanDepot sues Movement for poaching LOs

Housing Wire

It also accuses Movement of inducing these employees to breach contracts by soliciting others to leave loanDepot. and Delaware employees also transitioned to the retail competitor. That’s not the Orange County, California-based lender’s only poaching legal battle. Additional Maryland, Washington, D.C.,

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Former executive sues Guild over $750,000 in unpaid compensation

Housing Wire

“While we do not comment on pending litigation, Guild’s long-standing reputation for doing what’s right is built from our core values of integrity and respect, and we are committed to those values with every employee, client, and partner,” Guild said in a statement. Seely’s attorneys did not immediately respond to requests for comments.

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‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

On average, about 50% of referrals to a retail LO come from buyers’ agents, VanFossen said. According to VanFossen, that’s a “definite potential outcome that a lot of mortgage lenders are looking at, legally and in a compliant manner,” including Absolute Home Mortgage, which is doing tests with this dual-licensing structure.

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How to Find a Property Manager Company in Ohio

The Robert Weiler Company

Also, you can sometimes obtain maintenance services at a discounted rate when the work is contracted through the property management company. Reduce legal concerns. Do you have a preferred method of communication with clients? Is there a fee for early termination of the property manager company contract?

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USPAP Myths for Appraisers

Appraisal Today

– Work on getting a more positive attitude toward your clients, fees, etc. Pick one client to start with. You’ll learn key ways to work on eliminating bias and reduce your legal risk. But the speaker can tell us about the legal side, such as “bad” allegedly biased appraisers in the news. Set the date(s).

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Appraisers Riding the Waves of Up and Down Mortgage Rates 

Appraisal Today

I got the client to write a letter to the state indicating my report did not mislead them, yet the state sanctioned me for it anyway! If my client says I did not mislead them, how can the state board say I did?!” Obviously, you need legal counsel, but you may also need USPAP counsel as well. My clients want me to hit the number.