Business Opportunities; FGMC Cuts Wholesale; RBS Settles With NY


Posted To: Pipeline Press

How about this note I received from the owner of a non-bank lender in the Northeast. “Rob, in your conversations with CEOs, is anyone talking about cutting LO comp levels? It seems that some of my LOs expect corporate to absorb all the margin compression. Some have even argued for pricing that would lead to a loss for corporate. I am not in this business to run a non-profit or suffer a loss just so the LO can make money. Is ‘sharing the pain’ a conversation topic?” Yes, it is. But it’s tough to recruit when doing that. No one wants to be the first. And LOs argue that they “share the pain” due to not getting the deal, and inflexible comp plans caused by poorly-written regulations. Company News It isn’t the first and won’t be the last. FGMC…(read more)

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