"Focus Real Estate/Construction/Design" discussion with Dick Morin of Consumers

Derek Rice

Source

Mainebiz

Date

5-2-2011

Pages

24-25

Abstract

"Focus Real Estate/Construction/Design" discussion with Dick Morin of Consumers First Mortgage in Kennebunk about the impact of a new Federal Reserve rule about loan originator compensation on Maine mortgage brokers. The new rule means that loan originators can have no financial stake in the terms and conditions of a loan. Compensation must be predetermined and for most cases remains the same no matter the loan's size, rate or terms.

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