Outlook Live Webinar
Thursday, March 17, 2011
|Times:||11:00 a.m. - 1:00 p.m. Pacific|
|12:00 p.m. - 2:00 p.m. Mountain|
|1:00 p.m. - 3:00 p.m. Central|
|2:00 p.m. - 4:00 p.m. Eastern|
The mandatory compliance date for the loan originator compensation rules is April 1, 2011. The rules are designed to protect mortgage borrowers from unfair or abusive lending practices that can arise from certain loan originator compensation practices. The new rules apply to compensation that is paid to mortgage brokers and the companies that employ them, as well as mortgage loan officers employed by depository institutions and other lenders. The rules also cover companies that originate and close loans in their own name using table funding from a third party.
The final rules, which apply to closed-end loans secured by a consumer's dwelling:
This webinar is part of an ongoing series of events focused specifically on consumer compliance issues. The “Outlook Live” Audio Conference is a Federal Reserve System initiative produced in conjunction with the quarterly newsletter Consumer Compliance Outlook.
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