FICOM is passing a rule change that will require brokers to explicitly disclose commissions, but what about the other industry players it regulates?
“I see no attempt on FICOM’s part to move ahead with an initiative for full disclosure on the part of credit union road reps they regulate and who work on a variable rate comp. depending on what rate they actually offer the consumer,” John Bargis, principal of Mortgage Edge, told MortgageBrokerNews.
JUSTIN DA ROSA – Mortgage Broker News – April 01, 2016
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