Merkley Amendment to Wall St Reform

Dodd-Frank Wall St Reform Act Will Limit Loan Originator Compensation

The Merkley Amendment to the Wall Street Financial Reform legislation limits loan originator compensation to no more than 3 percent of the loan amount. If you want to debate the Merkley amendment, please visit this thread or this thread. From the Mortgage Banker’s Association, here is a summary of how loan originator compensation would be limited under [...]

6Jul2010 | mf | 29 comments | Continued

Merkley-Klobuchar Amendment Creates Level Playing Field

The Senate has passed an amendment to the Wall Street Reform bill that would ban loan originators from accepting compensation based on placing a consumer in a higher interest rate loan or a loan with less favorable terms.  The amendment also requires lenders to underwrite loans to assure a homeowner’s ability to repay the loan.
As [...]

13May2010 | mf | 54 comments | Continued