Chopra looking for the inside for advice or insight Here’s some insight. Stop treating borrowers like children. Let them choose who they went with clear disclosures. Open it back up for full flexibility in fees Have a revenue & reimbursements disclosure. One disclosure that shows how much in fees to originating company whether by indirect by rate or by charge direct to borrower. +Flat fees for any reason for example - I have to help you fix your credit - I add a professional fee of $1000. Costs that are for reimbursement They sign. We move on. Borrowers are not children. They know what they’re paying for. The. Stop only true predatory practices. All these caps and hurdles we have to work around are un American
Chopra looking for the inside for advice or insight
Here’s some insight. Stop treating borrowers like children.
Let them choose who they went with clear disclosures.
Open it back up for full flexibility in fees
Have a revenue & reimbursements disclosure. One disclosure that shows how much in fees to originating company
whether by indirect by rate or by charge direct to borrower. +Flat fees for any reason for example - I have to help you fix your credit - I add a professional fee of $1000.
Costs that are for reimbursement
They sign. We move on. Borrowers are not children. They know what they’re paying for.
The. Stop only true predatory practices.
All these caps and hurdles we have to work around are un American
The regulators like the CFPB are the main challenge with true free market capitalism in our industry.
Chopra has the audacity and unearned entitlement to say what he said.