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A branch manager proposes paying originators an extra bonus on any loan that closes with a rate at least 0.25% above par. Under the LO Compensation Rule, this bonus structure is:
a.Permitted because bonuses are always allowed
b.Prohibited because it bases compensation on a transaction term (the interest rate)
c.Permitted if the bonus is under $500
d.Permitted if disclosed on the Closing Disclosure
Giải thích
Basing any part of an originator's compensation on the interest rate is prohibited because the rate is a term of the transaction. A bonus tied to closing above-par-rate loans directly incentivizes charging consumers higher rates and violates Reg Z 1026.36. Neither a dollar cap nor disclosure would make it compliant.
Trích dẫn luật: Loan Originator Compensation Rule (Reg Z 1026.36)Luyện miễn phí toàn bộ 400 câu hỏi — không cần đăng ký.
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