FDIC [1] has released another new entry in a series of technical assistance videos created to help bank employees meet regulatory requirements in the mortgage space.
The latest video [2], released Monday, centers on the Consumer Financial Protection Bureau’s loan originator compensation rule, which prohibits pay to loan officers based on loan terms and conditions.
The video is the second in a three-part series. The first part, released last November [3], covered the ability-to-repay and qualified mortgage rules, while the third, slated for release in February, will review new servicing rules.
"Today's release of the second technical assistance video on the new mortgage rules represents FDIC's ongoing commitment to informing community banks about important regulatory issues and to help them manage regulatory changes in the consumer compliance area," said Mark Pearce, director of the Division of Depositor and Consumer Protection.