MMC L.O. Comp Exam Guidelines Provide Precious Little Guidance
October 24, 2011
The recently issued state regulator examination guidelines for compliance with the federal loan originator compensation regulations “continue the game of hot potato,” according to Kristie Kully, of counsel with the K&L Gates law firm. “While there are many significant questions that remain in understanding and implementing the loan originator compensation restrictions, the new state Conference of State Bank Supervisors/American Association of Residential Mortgage Regulators examination guidelines do not (and cannot really be expected to)…