Tag: CFPB

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What You Need to Know: Loan Originator Compensation

The CFPB’s latest version of Loan Originator Compensation rule took effect on January 1, 2014 and although the rule seemed fairly straightforward—citing “no compensation based on loan terms,” lenders are still facing a dilemma today on how they can and cannot appropriately pay their loan officers or brokers on mortgage loan transactions. This article tries…

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Prefunding QC Audits: It’s All About the Data

About The following content is intended to emphasize Prefunding QC as a proactive QC process vital to improve loan and credit quality. This White Paper is purposed to define the importance of verifying loan data quality before the loan is delivered to the investor, and to convey Prefunding QC as paramount in actively reducing loan…