Learn more about the course and register; your question answered about periodic training for mortgage loan originators; plus this week’s legal briefs.
The CFPB has issued another round of new “plain-English” rule overviews; the latest addressing Loan Originator and Mortgage Servicing Rules. The weekly compliance report covers the bases for credit union professionals.
Your weekly update on the regulatory landscape.
The CFPB released its official Mortgage Origination Examination Procedures, which will serve as a “field guide for CFPB examiners” as they examine mortgage originators in all sectors of the financial services industry.
A U.S. Court of Appeals lifted a stay on the implementation of the Federal Reserve’s Regulation Z Loan Originator Compensation final rule, meaning the new rule will come into effect today.
The mandatory compliance date for the loan originator compensation rules is April 1, 2011.Â The rules are designed to protect mortgage borrowers from unfair or abusive lending practices that can arise from certain loan originator compensation practices.