Lender Paid Transactions: Broker may not charge an origination fee. Borrower will be charged an origination fee by CMG in an amount equal to the broker compensation agreement. This origination fee, in addition to all other CMG fees, must be reflected in Block 1 of the GFE.
Selecting your Lender-Paid Compensation
Need to make more with CMG on Lender Paid Compensation deals? Now’s the time to do it! We have revised our lender paid compensation options:
1. You can now make between 1.0% and 3.0% in .125 increments
2. You can add a flat fee in addition to your percentage
So, submit a loan starting July 1st along with your updated Lender Paid Compensation plan!
Download: Information regarding selecting your Lender-Paid Compensation
Loan Officer Compensation Documents
Fed Rule - Brokered Transactions
Information for Wholesale Customers of CMG Mortgage, Inc.
Certificate of Compliance with Anti-Steering Requirements
The difference between a Borrower Paid Transaction and a Lender Paid Transaction (Power Point) |
