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CFPB

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CFPB Warns Brokers Shifting to Mini-Correspondent Model 

Jul 14, 2014By

The Consumer Financial Protection Bureau (CFPB) last week clarified guidance regarding mortgage brokers transitioning to a “mini-correspondent” lender model. Concerned that some brokers may be shifting to the “mini” model under the mistaken belief that identifying themselves as such will exempt them from certain consumer protection rules regarding broker compensation, the guidance arrives in efforts to […]