Subtitle A: Loan Originator Compensation Restrictions and Enforcement

Subtitle A: Loan Originator Compensation Restrictions and Enforcement

Brief Reputation For the Rule

The first iteration of the loan officer compensation rule did not stem from the Dodd-Frank Act unlike many other CFPB rules. In of 2009, the Board of Governors of the Federal Reserve System (Board) issued a proposed rule on loan originator compensation august. The Dodd-Frank Act had been enacted on 21, 2010 and contained restrictions that closely, but not entirely, followed the Board’s proposed rule; however, less than a month after the Dodd-Frank Act was enacted, the Board finalized its rule july.Continue reading