Dear Sir/Madam : Unfortunately, I need to file a complaint for a Dodd-Frank violation against DHL Mortgage Company in XXXX, NC. I was employed by the company from XXXX,XX/XX/XXXX until XXXX,XX/XX/XXXX I have been a loan originator in the mortgage industry for over 25 years.
During the final month of my tenure with DHL, the company started paying me based upon their profitability on the loan rather than the loan amount. They illegally punished me for the costly lock extensions that were necessary due to their companys inability to process or close loans in a timely mannermany of these loan applications were taking upwards of 150 days to close due to the lack of loan processing and closing administrators.
Additionally, they retroactively charged me more than my entire commission for three loans that were prepaid within six months.
I am attaching an email from the president of the company which explicitly outlines these illegal activities.
I am also attaching a copy of my work agreement with my previous firm, XXXX XXXXXX/XX/XXXX which explicitly outlines my loan payments that were completely in compliance with the Dodd-Frank that states that originators can no longer be compensated based upon the profitability of the loan, only based upon the loan amount.
I am unaware of whether this practice by DHL is related solely to my loans as an originator or if it is a company-wide procedure for the other 6 loan originators at the company. However, I would like to request an investigation of this matter by you at your convenience.
Thank you for your time, XXXX XXXX XXXX NMLS XXXX XXXX
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