From Patton Boggs
Title Insurance Industry Free ClassifiedsThe New Jersey Department of Banking and Insurance has issued a bulletin clarifying the permissible payment of compensation to loan officers. The bulletin makes clear that loan officers may be compensated for providing loan origination services as long as the loan officer and the employing entity were licensed at the time services were provided, regardless of when the compensation is actually paid. The bulletin further provides that payment for services rendered during any period for which the loan originator and/or entity were not licensed or registered is unlawful.
via lexology.com
See the bulletin here: http://www.state.nj.us/dobi/bulletins/blt10_29.pdf
New Jersey Title Insurance Linkedin Group
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