Luật vay thế chấp liên bangCâu 56 / 400
Under the Loan Originator Compensation Rule, a loan originator's compensation may NOT be based on which of the following?
a.The total dollar amount of credit extended
b.The interest rate of the loan
c.A fixed hourly wage
d.The number of loans closed over a year at a flat per-loan amount
Giải thích
Reg Z 1026.36 prohibits compensating a loan originator based on a term of a transaction, and the interest rate is a loan term. Compensation may be based on the loan amount (as a fixed percentage), hourly pay, or a flat amount per loan. Basing pay on the rate would incentivize steering borrowers into costlier loans.
Trích dẫn luật: Loan Originator Compensation Rule (Reg Z 1026.36)Luyện miễn phí toàn bộ 400 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- A borrower asks a loan officer directly whether the company filed a Suspicious Activity Report about his transaction. What is the loan officer permitted to do under the Bank Secrecy Act?
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- A loan originator is paid a commission by the borrower directly on a transaction. On that same transaction, the originator also wants to collect a commission from the lender. What does the LO Compensation Rule say about this?
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- Under Reg Z, which arrangement for changing a loan originator's compensation is generally permitted?
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