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State Mortgage Regulators Release Mortgage Loan Originator Compensation Guidelines

WASHINGTON, D.C. - October 17, 2011 - (RealEstateRama) -- The Multi-State Mortgage Committee (MMC), a ten-state representative body created by the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR), has issued examiner guidelines as a tool for consistent implementation of the Federal Reserve Board’s final rules for closed-end credit under Regulation Z. The rule introduced loan originator compensation restrictions to protect consumers against the unfairness, deception, and abuse that can arise with certain loan origination compensation practices. The rule generally prohibits payments to loan originators based on loan terms and conditions, dual compensation to originators by consumers and any other person, and “steering” consumers to loans to receive greater compensation.

Business Real Estate Press Releases

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Meridian Acquires El Dorado Medical Plaza in Tucson, Arizona

Meridian, a full-service real estate developer and owner of medical real estate, is pleased to announce that the firm has closed escrow on the purchase of El Dorado Medical Plaza, a 187,690-square-foot, three-story combined Class-B medical office

Recent Gov & Nonprofit Real Estate Press Releases

A safety manual in relation to your infrastructural needs in the...

Residence i[do_widget id=custom_html-3]n a place where hurricane season is going to be inevitable a smart thing to do is to plan ahead in reference to safety measures necessary for your infrastructure and yourself while you’re in it. In order to do so the preparation and planning of the infrastructure itself plays a primary role.