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Mortgages › Loan Originator Compensation Rule

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Ballard Spahr LLP

CFPB Revises Loan Originator Rule and HOEPA Rule Guides

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The Consumer Financial Protection Bureau (CFPB) recently issued revised versions of the small entity compliance guides for the Loan Originator Rule and the Home Ownership and Equity Protection Act (HOEPA) Rule....more

Ballard Spahr LLP

Mortgage Industry Urges CFPB to Make Changes to LO Comp Rule

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On September 26, 2018, the Mortgage Bankers Association (MBA) together with eleven other mortgage industry groups submitted a letter to CFPB Acting Director Mick Mulvaney “to urge the Bureau. . . to make changes to its Loan...more

Ballard Spahr LLP

GAO issues report on CFPB SBREFA panels

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The Government Accountability Office has issued a report on the CFPB’s use of Small Business Regulatory Enforcement Fairness Act (SBREFA) panels in its rulemaking process. The report, “Observations from Small Business Review...more

MoFo Reenforcement

CFPB Enforcement Actions Take on LO Comp and Fair Lending

MoFo Reenforcement on

Over the past couple of weeks, the CFPB has kept itself busy in the mortgage origination enforcement arena. In one complaint, the CFPB ordered a residential mortgage lender and its CEO to each pay a $1 million civil penalty...more

Ballard Spahr LLP

CFPB settles lawsuit challenging loan officer bonuses

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For mortgage industry members wondering how serious the CFPB will be when enforcing the Regulation Z loan originator compensation rule (“LO Compensation Rule”) we now have an answer— $13 million dollars serious. ...more

Ballard Spahr LLP

CFPB Finalizes Amendments to Mortgage Rules

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The Consumer Financial Protection Bureau (CFPB) has finalized several amendments and clarifications to the mortgage rules that had been proposed on June 24, 2013. The amendments include revisions to the CFPB's mortgage...more

Stinson - Corporate & Securities Law Blog

CFPB Commences Action For Violation Of Loan Originator Compensation Rules

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The CFPB filed a complaint in federal district court against a Utah-based mortgage company, Castle & Cooke Mortgage LLC, and two of its officers for illegally giving bonuses to loan officers who steered consumers into...more

Orrick - Finance 20/20

CFPB Proposed Modifications to Mortgage Rules

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On June 24, the CFPB issued proposed clarifications and revisions to its January 2013 mortgage rules with respect to ability-to-repay and qualified mortgages....more

Ballard Spahr LLP

CFPB Proposes Changes to Points and Fees, Loan Originator Compensation Provisions

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As we reported in CFPB Monitor, the Consumer Financial Protection Bureau proposed changes earlier this week to the mortgage rules adopted in January 2013. Comments on the proposal are due July 22, 2013....more

Ballard Spahr LLP

More small entity compliance guides from the CFPB

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The CFPB has issued two more Small Entity Compliance Guides on its mortgage-related rules. The latest guides cover the mortgage servicing rule and loan originator compensation rule finalized by the CFPB in January 2013....more

Sheppard Mullin Richter & Hampton LLP

CFPB Amends Ability-To-Repay/Qualified Mortgage Regulations To Exclude Creditor's Payment Of Compensation To Loan Originator...

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On May 29, 2013, the Consumer Financial Protection Bureau (CFPB) issued a final rule amending its Ability to Repay/Qualified Mortgage (ATR/QM) rule, originally issued on January 10, 2013....more

Ballard Spahr LLP

CFPB adopts ability to repay rule amendments

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On May 29, 2013, the CFPB adopted amendments to the final ability to repay rule. The CFPB had proposed the amendments on the same day that it issued the ability to repay rule in January 2013. The amendments are effective on...more

Bradley Arant Boult Cummings LLP

CFPB Releases Plain Language Video Guides for New Mortgage Rules

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In January 2013, the Consumer Financial Protection Bureau (CFPB) issued a series of new rules affecting the mortgage industry. These rules touch upon a wide variety of areas, including originations, appraisals, and servicing....more

Ballard Spahr LLP

Notes from CFPB Education Conference for State Attorneys General

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The George Mason University School of Law, Law & Economics Center recently hosted a conference titled “Understanding the Consumer Financial Protection Bureau,” through GMU’s Attorneys General Education Program. Founded in...more

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