article thumbnail

One-third of real estate CEO comp is variable, up from 2016

Housing Wire

This is up considerably from 2016, when the last report was published. “A Regional sales managers, general sales managers and office sales managers have a much higher variable compensation — earning bonuses and benefits — than they did when RealTrends published this report in 2016. Breaking down the numbers.

article thumbnail

CFPB issues consent order against Washington Federal for HMDA reporting violations

Housing Wire

The bank will pay a $200,000 fine for reporting inaccurate HMDA data in 2016 and 2017 — with error rates up to 40% in some cases, according to the CFPB. Washington Federal reported HMDA data for over 7,000 mortgage applications in each of 2016 and 2017, many of which contained data error rates reaching nearly 40%.

Training 358
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Wells Fargo pays $96M to settle LO comp lawsuit

Housing Wire

Wells Fargo “failed to pay plaintiff and class members for all hours worked, including but not limited to, mandatory meetings, loan processing, training and coaching sessions, loan tracking, customer surveys, attending open houses, attending events and galas, and working on certain nights or weekends,” Kang’s complaint, filed in 2017, said.

Legal 488
article thumbnail

Steve Harney, founder of Keeping Current Matters, has died

Housing Wire

He became a top-producing real estate agent in the area and in 1991 became the manager of the largest office for Prudential Long Island Realty , training agents throughout the East Coast markets. In 2016, Harney sold KCM to his son and daughter-in-law, Bill and Charlotte Harney, although he remained active as a founder.

article thumbnail

Real Brokerage expands in 13 states with addition of 40-agent team

Housing Wire

RealD2D is led by agent and coach Duane Richins, who brought a unique background to his real estate career that began in 2016. Having knocked on over 100,000 doors and trained numerous rookies of the year, Duane is unmatched in building client relationships through direct engagement,” Real President Sharran Srivatsaa said in a statement.

Brokerage 397
article thumbnail

Why the private-label market will chill in 2022

Housing Wire

That gravy train, however, is expected to slow down some as we turn the corner into 2022 — with rising interest rates, spiking home prices and the expanding reach of government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac serving as the brakes. And the elephant in the room is interest rates.

Marketing 386
article thumbnail

Feds seek to enlist real estate agents in anti-corruption push

Housing Wire

FinCEN has issued what are known as “geographic targeting orders” (GTOs) since 2016 to help address the issue, according to a recent White House report outlining the U.S. In counseling lending institutions, I have seen the success of anti-money laundering programs hinge on employee training on suspicious activity detection and how to report.