Mortgage brokers could be facing a threat on ban commissions if the government in the UK pushes its campaign against kickbacks. Financial Services Minister Chris Bowen said including mortgage brokers on a ban of kickbacks may be subjected for review since brokers are selling loans and not investments. “They are covered by a different regime but we will consider that as part of our national credit reforms, and phase two of that is coming,” he said. Minister Bowen declared yesterday that financial planners are forbidden to receive kickbacks, volume discounts, and commissions from its clients and investors, and will only charge its clients for advice rather than recommend services which appeared to be free.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
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HousingWire Mortgage Rankings have arrived, bringing data-driven benchmark to originator performance
HousingWire on Tuesday announced the launch of the HousingWire Mortgage Rankings, a new performance intelligence product designed to provide a clear, data-driven view of mortgage origination activity across the U.S. The rankings benchmark mortgage originators based on observed production, offering a standardized view of performance across geographies, loan types and channels. Historically, the mortgage industry has lacked […]
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio