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LO Compensation Rule Compliance*
This course provides a comprehensive overview of the Loan Officer Compensation (LO Comp) Rule, a crucial regulation governing the mortgage lending industry. The Federal Reserve announced final rules related to loan originator compensation practices on August 16, 2010. It was then enacted as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act and enforced by the Consumer Financial Protection Bureau (CFPB). The LO Comp Rule aims to protect consumers, promote transparency, and ensure...
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Mortgage Professional Spotlight
How Much Does a Mortgage Originator Make This 30 minute video presents Debra Killian, CRMS, explaining the options. costs and benefits of becoming a Mortgage Loan Originator. If you work for a Depository or a Mortgage Lender as a loan originator this short presentation will explain how the mortgage profession was nationalized by the federal government in 2008. If you want to become a Federally Registered Loan Originator or a State Licensed Originator this...
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Loan Originator Compensation 1099 v W2 Webinar Recording
This LIVE webinar will review originator classifications (W-2 vs 1099). This is NOT just a California thing! Based on the recent California Dynamex Case, a new CA law (Assembly Bill 5) passed and becomes effective January 1, 2020. Misclassification of W-2 employees as 1099 independent contractors can be a costly mistake for mortgage companies and every state will be affected by this case. Non-depository mortgage lenders and brokers are growing marketshare. The bigger we are,...
