Consumer Financial Regulation Checklist: Compensating Mortgage Loan Originators

Summary

This checklist outlines key policies and procedures for mortgage-loan-originator compensation under the federal Truth-in-Lending Act (TILA) (15 U.S.C. § 1601, et seq.) and Regulation Z (12 C.F.R. § 1026.1 et seq.), as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act). TILA and Regulation Z, among other things, protect borrowers from unfair, deceptive, and abusive acts or practices (UDAAPs) related to loan originators' compensation practices. TILA and Regulation Z are administered and enforced by the federal Consumer Financial Protection Bureau (CFPB).