Political Quotes

Brad Miller: “So a mortgage originator under this subparagraph, the one we were speaking of a moment ago, will get paid exactly the…”

On the recordNovember 15, 2007
So a mortgage originator under this subparagraph, the one we were speaking of a moment ago, will get paid exactly the same in total compensation, including both the compensation paid by the borrower and the compensation paid by the lender, whether the interest rate is 6 or 8 or 10. Is that right?
Said by
Brad Miller
Democratic · North Carolina

Editor's note · Context

Discussing compensation structures for mortgage originators.

Share

More from Brad Miller

Jul 23, 2003

Is the Wall Street Journal out to lunch in saying that that was intentionally made as rich as it was so that nothing at all would pass? I do not expect that they have the gentleman on their speed dial the way they have Bill Thomas and Tom…

govinfo.gov
Jul 23, 2003

I am staying up tonight, as I stayed up last week, because I think it is important that we adopt a child tax credit. I certainly knew that we could not afford it. We are digging a deep deficit hole that is going to drag down our economy…

govinfo.gov
Nov 15, 2007

I simply want to correct something I said earlier today. Earlier today I said the Mortgage Bankers Association was opposed to this bill. That is not correct. They do not support the bill. In a letter dated today, they outlined four areas…

govinfo.gov
Nov 15, 2007

And is it also correct that any payment by the lender to the broker, or to use the language of the bill, any incentive compensation paid by any person to any originator, based on a higher interest rate, is still forbidden?

govinfo.gov

Other voices in this conversation