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CFPB shelves ‘zero-zero’ alternative loan requirement in LO comp final rule
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Banking, Consumer Protection
Friday, January 18, 2013
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The Consumer Financial Protection Bureau’s long-awaited final rule on mortgage loan originator compensation does not include a proposed prohibition on consumer payment of upfront points and fees, according to a rule summary released by the CFPB. The rule, however, will make important changes regarding how loan originators are paid and how they qualify for their jobs. Read on to learn about the final rule.
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