The Loan Originator Compensation Rule and other related laws remain enforceable, allowing state regulators to continue pursuing violations even as CFPB enforcement slows. A recent CFPB report encourages state actions to enhance consumer protections. As states like California, New York, and Illinois ramp up examinations, lenders should prepare for increased scrutiny and potential litigation related to compliance issues. The possibility of future, more aggressive CFPB leadership means lenders must maintain robust compliance programs to avoid retrospective actions.
The Loan Originator Compensation Rule and other mortgage laws continue to be enforceable, with state regulators encouraged by the CFPB to take proactive measures.
As the CFPB's enforcement slows, state regulators and attorneys general are stepping in to pursue mortgage regulation violations, particularly in progressive states.
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