Loan Officer Compensation Rules

I want to discuss what these rules do for the consumer. Right now as a loan officer I have the ability to negotiate with my clients based upon the amount of work I may put into a loan. The more work I have to put in the more I have to charge. For customers that are very easy to get qualified and completed I can charge less than for customers whose loan is going be very difficult to do I may have to charge a little more although being more than fair under both circumstances. The federal government is wanting to rid the loan officer from any control whatsoever and set certain margins on all loans for residential customers. This is going to hurt the customer in the long run. Because as a loan officer we are no longer able to set the compensation structure for each loan the consumer no longer has the ability to search for the so called "best deal" because everyone will be charging the same thing. Although some lenders will have higher up front costs. I guess it is back to the basics of good old customer service, and added value of what we truly bring to the table. Being in the business now for over 6 years I have seen the ups and downs of this industry. My hopes are that we do not become so regulated by the government that eventually we all become government employees. Imagine setting on hold for 2 hours to talk to your loan officer. This will become a nightmare.