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 ethical conduct among loan officers and mortgage professionals.
In this course, participants will gain a deep understanding of the LO Comp Rule’s key provisions, its impact on mortgage lending practices, and the compliance measures necessary to adhere to this important regulation.
By the end of this course, participants will be equipped with the knowledge and skills needed to navigate the regulatory landscape of the mortgage lending industry, promote consumer protection, and ensure compliance with the LO Comp Rule. This course is essential for loan officers, mortgage professionals, compliance officers, and anyone involved in mortgage origination and lending.
- Lectures 0
- Quizzes 0
- Duration 1 hour
- Skill level All levels
- Language English
- Students 0
- Assessments Yes