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TrainingPro

3 Hour SAFE_ Playing by the Rules: A Guide to ATR/QM and Loan Originator Compensation_Online Self Paced_Course Number 4303

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Overview / Abstract:

In early 2013, the CFPB announced a number of changes to federal rules governing the mortgage industry. As these amendments go into effect, it is more important now than ever before that mortgage professionals are familiar – and in compliance – with the law. Two of the most anticipated rules issued are the Ability-to-Repay/Qualified Mortgage Rule, which sets out new standards for considering borrower repayment ability and creates protections for qualified mortgages, and the Loan Originator Compensation Rule, which provides guidance for defining and calculating compensation for originators in loan transactions. This course will provide students with the essential information necessary to understanding both of these rules, and provide a review of the regulatory and industry concerns considered by the CFPB in its rulemaking. The course will work to help participants understand the importance of these new rules to the mortgage landscape, and highlight compliance concerns that may arise as they take effect in 2014. In order to ensure understanding of the new rules, students will have access to a “compliance aid” in the form of a video produced by the CFPB. The course will also review some examples based on real life situations in the form of Discussion Scenarios.

Expiration

Sep 17, 2020

Discipline(s)

Mortgage Broker

Format

Online

Credits / Hours

3 Hours

Accreditation

NMLS

Keywords / Search Terms

TrainingPro

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