Compliance Essentials: Loan Originator Compensation Resource Guide

The stakes are high concerning Loan Originator Compensation. Enforcement in this area has been a major focus of CFPB enforcement. Your company and loan officers themselves can be held liable for any violations of the LO rules.

We can help. The MBA Compliance Essentials Loan Originator Compensation Rule Resource Guide gives you a detailed discussion in plain-English of all the fine points of these rules. The book also includes the model policies and procedures, which you can incorporate into your own compliance management system.

Developed by:

Richard J. Andreano, Jr., Practice Leader, Mortgage Banking Group, Ballard Spahr, LLP

Chapters include:

Statutory and Regulatory Background

Requirements and Implications

Prohibitions Against Compensation Based on a Term or a Proxy For a Term of a Transaction

Dual Compensation Prohibition

Anti-Steering Prohibition

Record Retention

Depository Institution Policies and Procedures Requirement

Model Policies and Procedures

Sample Checklist

Click here for more information.