AFR will allow the Wholesale Brokers and the Table Funding Lenders to select a lender paid compensation plan AND a separate borrower paid compensation plan that may be different than their lender paid compensation plan. The borrower paid compensation plan will act the same as the lender paid plan in that each loan where the originator compensation is paid by the borrower, the bps paid to the originator cannot change loan by loan and can only change after at least 60 days AND with AFR approval. Please note that a min/max option will not be offered with the borrower paid plan. All plans will remain as is until a new agreement is signed, sent into Broker Services and made effective. Therefore, unless a new agreement is signed and approved and made effective, the borrower paid option must be the same as the lender paid option currently in effect. The compensation the Originator receives must always be in compliance with the CFPB’s Rule on Originator Compensation and the Amendment to Regulation Z. AFR’s guidelines should not be misconstrued as guidance of that rule. Please consult your compliance department or legal counsel for interpretations and implementation.
AFR Originator Compensation Agreement (pdf)
Sign and return the AFR Originator Compensation Agreement to:
and please copy your Account Executive.
Below is the AFR Loan Originator Compensation Forms and Policy:
For specific questions in regard to originator compensation and AFR policy, please contact your Account Executive or use the CHAT feature at the top of this webpage.
- RESPA MLO Compensation Guidelines (pdf)
** Regulation Z prohibits certain practices relating compensation to mortgage brokers and loan originators.