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Mortgage Loan Originator Compensation: What’s the Latest? (MLC575K)
Innovative Mortgage Loan Originator Compensation Strategies That Prepare You for CFPB Examination and Enforcement
The Consumer Financial Protection Bureau (CFPB) said it was going to focus its examination and enforcement muscle on compliance with the restrictions on mortgage loan originator compensation – but that was then, and this is now!
These days, it is unclear whether the CFPB will even be around much longer, at least not in its current form. However, for now, there is still the possibility that lingering and renewed questions about what is allowed and what is prohibited can expose your company to risk. Competition for good loan originators means that companies must look to innovative compensation strategies.
In this webinar, Kris D. Kully, a partner with Mayer Brown in Washington, DC, will discuss the latest questions and case studies to will help you stay on top of compensation issues.
Can you pay your loan originators differently for special loan programs, like state housing finance agency assistance programs, jumbo loans and reverse mortgage loans?
Some of the branch managers are producing and some are nonproducing: How can you compensate them both with incentives for production and cost-controls?
How can you hold loan originators responsible for repeated tolerance violations or buyback costs?
What will the CFPB be looking for, and how you can be prepared?
What about overtime?
Who Should Attend?
In-house counsel and compliance personnel for mortgage lenders
Mortgage lending divisions of financial institutions, and
Financial advisors or wealth managers who refer clients for mortgage loans
*Single User Price. For multiple users please call 1-800-223-8720
Kris Kully is a partner in Mayer Brown's Washington DC office and a member of the Consumer Financial Services group. She advises clients on federal and state regulatory compliance matters affecting providers of consumer financial products and services, including licensing and substantive practic...
Disclaimer: The content herein does not represent any association between CFPB and Eli Financial LLC. CFPB neither endorses any product of Eli Financial LLC nor warrants accuracy of the content hereto.