Bulletin W14-020 – Update, Broker Compensation Agreement

February 13, 2014Bulletins

Topic included in Bulletin W14-020:

  • The Broker Compensation Agreement has been updated, with the following changes:
  • Amended the Borrower Paid Compensation (BPC) cap to read – BPC is capped at the greater of the minimum dollar amount or Lender Paid Compensation (LPC) percentage
  • Added, dollar minimum amounts to the LPC plans: 0, $1500, $1750, $2000, $2250, $2750 and $3000
  • Broker able to update their minimum dollar compensation outside of their normal cycle through Friday, February 28, 2014
  • New plans will be inputted in Encompass within 24 hours of receipt of the updated compensation agreement and will be in effect the following day
  • After Friday, February 28, 2014, compensation agreements will be updated per the CMS policy at 90 day intervals
  • Updated Broker Compensation Agreement posted in Comergence and the website
  • Send updated Broker Compensation Agreement to PipelineManager@carringtonms.com
  • Updated Broker Compensation Agreement attached

Download: Bulletin – W14-020 (PDF)

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