Ohio MBA coverage: CFPB’s LO compensation plan not as restrictive as it could have been

The Consumer Financial Protection Bureau plans to propose rules that will change the way loan originators are compensated and how they qualify for their jobs; however, some aspects of the agency’s rulemaking may ultimately not be as restrictive as they could have been. Ari Karen, of Offit Kurman, told attendees at the Ohio Mortgage Bankers Association Convention that the bureau is backing away from some “extreme” Dodd-Frank provisions.