FICOM This is a broker do last
The B.C. regulator has released an open letter to the industry, outlining its plans for future compensation disclosure while also inviting further broker comment prior to implementation.
The letter, which was sent to MortgageBrokerNews.ca by a FICOM representative, explains its proposed plan to require brokers to disclose, in dollar terms, commission and volume bonuses earned on deals, as well as other rewards the broker may earn from the lender.
JUSTIN DA ROSA – Mortgage Broker News – January 06, 2016.
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