{"id":196688,"date":"2008-04-01T23:02:00","date_gmt":"2008-04-02T04:02:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/04\/01\/limits-to-compensation-for-mortgage-brokers-at-countrywide\/"},"modified":"2008-04-01T23:02:00","modified_gmt":"2008-04-02T04:02:00","slug":"limits-to-compensation-for-mortgage-brokers-at-countrywide","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/04\/01\/limits-to-compensation-for-mortgage-brokers-at-countrywide\/","title":{"rendered":"Limits to Compensation for Mortgage Brokers at Countrywide"},"content":{"rendered":"<p>Ailing (and corrupt) mortgage giant Countrywide Financial has just <a href=\"http:\/\/blownmortgage.com\/2008\/03\/31\/the-big-squeeze-countrywide-limits-broker-compensation\/\">placed a cap of 4% on Mortgage brokers<\/a>.<\/p>\n<p>Note that 4% is <span style=\"font-weight:bold;\">way too high<\/span>, but it&#8217;s a start.<\/p>\n<p>Basically, it stops incentivizing the most extreme Yield Spread Premiums (basically a &#8220;load&#8221; on the loan which largely goes to the broker) to the detriment of the borrower, the lender, and the rest of the economy.<\/p>\n<p>The incentives in the current home mortgage environment is a morass of forces pushing lenders toward unsafe, immoral, and destructive loan products, and this is something that should be changed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ailing (and corrupt) mortgage giant Countrywide Financial has just placed a cap of 4% on Mortgage brokers. Note that 4% is way too high, but it&#8217;s a start. Basically, it stops incentivizing the most extreme Yield Spread Premiums (basically a &#8220;load&#8221; on the loan which largely goes to the broker) to the detriment of the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1004,1088,985],"tags":[],"class_list":["post-196688","post","type-post","status-publish","format-standard","hentry","category-finance","category-real-estate","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196688"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=196688"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196688\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=196688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=196688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=196688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}