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CFPB Examination Procedures for Mortgage Loan Originators: Effective January 10, 2014

Date: September 10, 2013

Time: 3:00pm - 4:30pm

Location: Webinar

Tuesday, September 10, 2013

3:00 pm – 4:30 pm

In January 2013, the Consumer Financial Protection Bureau (CFPB) issued the long-awaited final rules regarding mortgage loan originator compensation and qualification requirements under the Truth in Lending Act (TILA), as amended by the Dodd-Frank Act. The new compensation rules potentially have a major impact on mortgage loan officers/originators and financial institutions themselves.

These changes will affect policy and procedures and will include self-testing of the new compensation guidelines. Examiner guidance has been issued and financial institutions will be scrutinized regarding compliance with the new rules. This is amust-attend webinar in order to prepare for the January 10, 2014, deadline! You will be provided the tools you need to be compliant by this fast-approaching deadline. Issues will be discussed step-by-step, example-by-example.

Continuing Education: Attendance verification for CE credits upon request


    • Which loans apply?
    • Who qualifies as a Mortgage Loan Originator under the new compensation rules?
    • Compensation issues and examples (as well as what is not included)
    • How to determine if compensation is based on a transaction term
    • Issues when compensation is received directly from a consumer
    • Commissions for performing activities that are not loan-origination activities
    • “SAFE” compensation methods
    • The manual will be provided in Word so sample documents and language can be easily incorporated into your policies and procedures.
    • New requirements fact sheet
    • Audit procedures for self-testing before examiners arrive
    • Employee training log
    • Quiz you can administer to measure staff learning and a separate answer key


This informative session is designed for loan supervisors, compliance officers, and auditors.