Loan Officer Compensation and Anti-Steering Under Changes to Regulation Z
One of the major concerns under the new Dodd-Frank Law was the payment of commissions to mortgage loan officers. The issue was that loan officers would often place borrowers into higher interest rate products to make additional compensation for themselves. As such, Dodd-Frank ordered changes made to Regulation Z to address the ways mortgage companies generally and loan officers specifically were compensated.
Attached is a link to the above online course that I presented live on June 28th detailing these changes to Regulation Z. The course is free and runs for about an hour. Attorneys who watch it will receive 1 Continuing Legal Education (i.e. CLE) credit. To watch it, Lawline.com requires attendees register for a “FREE” Lawline account. http://www.lawline.com/cle/free-course.php?c=1566&s=f8d10e2a36326147eef8748b411f4ef5 .
Alternatively, at the Lawline.com learning center, the course is broken up into 35 short parts (i.e. 1-2 minutes each). These parts can be viewed for free without registering for a Lawline account. Each part has a separate heading so someone can pick and choose which ones they would like to see. The link to this can be found at http://learn.lawline.com/?cid=1566&title=Mortgage-Loan-Officer-Compensation-and-Anti-Steering-Under-Regulation-Z. Note, the CLE credit will not be given to attorneys who do not view the course in its entirety!
As always I am available to discuss, consult, answer questions, etc. with respect to this or any other mortgage topic.