TopMortgage Compliance Update (1)

             May 31, 2011   

                                                         FAQs OUTLINE
                                             Loan Originator Compensation

                                              Update: 320 FAQs - 86 Pages    

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The update to the most comprehensive  

Questions and Answers analysis is now available:   


FAQs Outline - Loan Originator Compensation


Release Update: May 31, 2011

The FAQs cover virtually all areas of the new Rule regarding Loan Originator Compensation.

FAQs Outline

Loan Originator Compensation



Star-Blinking-1320 Questions and Answers


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  • Is there a "best practices" version of the anti-steering disclosure?
  • Are FHA and VA loans excluded from the anti-steering disclosure requirement?
  • What are five (5) questions that an originator should consider when completing the GFE?
  • What happens if the loan amount is too low to pay the compensation percentage?
  • How is pricing coordinated on a rate sheet?
  • Is the Yield Spread Premium (YSP) now defunct?
  • Does the compensation level stay the same if the borrower pays the fees or the lender pays?
  • On VA loans, is there a limit to 1% origination on brokered Lender Paid options?
  • May a correspondent still receive a Service Release Premium (SRP)?
  • What are the implications for compensation paid by affiliated creditors?
  • How is compensation treated for two affiliated loan originators?
  • Does the implementation of the Rule supersede other regulatory requirements?
  • How should a lender update its requirements to purchase correspondent loans?
  • Broadly speaking, what are the anti-steering prohibitions under the Rule?
  • Are salaried loan officers of non-profits subject to the Rule?
  • If a broker has multiple branches, what is an acceptable compensation plan with lenders?
  • May the closing costs be included in the loan amount in a refinance transaction?
  • Is the RESPA treatment of charges and credits disregarded in all respects under the Rule?
  • Is there a simple, decision-based flow chart for the Consumer Paid model?
  • Is there a simple, decision-based flow chart for the Lender Paid model?
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