In War for Talent, Mortgage Firms Irked by Rivals’ Compensation Plans
National Mortgage News, Jan. 6, 2016–Berry, Kate
More aggressive nonbank lenders are attracting top producers by essentially allowing loan officers to set their own rate of pay. While so-called “pick-a-pay” compensation plans are not illegal, critics say they can encourage loan officers to steer consumers into more expensive loans in order to increase their own pay.
