Comment for 1026.36 - Prohibited Acts or Practices and Certain Requirements for Credit Secured by a Dwelling
documentation), or collecting application and supporting information on behalf of the consumer to submit to a loan
- 1026 (Regulation Z)
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documentation), or collecting application and supporting information on behalf of the consumer to submit to a loan
Assume that the compensation during a given calendar year of an individual loan originator employed by
(iii) An individual loan originator may receive, and a person may pay to an individual loan originator
The amount of all loan costs determined under paragraph (f) of this section and other costs determined
the following charges should be itemized separately: compensation paid directly by a consumer to a loan
Creditor's flexibility in setting loan terms.
A loan originator's compensation may be based on the amount of credit extended, subject to certain conditions
To be the creditor or assignee of a mortgage loan, the servicer (or an affiliate) must either currently
Assume a creditor pays a loan originator a higher commission for transactions to be held by the creditor
transaction or a proxy for a term of a transaction, provided that compensation received by or paid to a loan
The exclusion for bona fide third-party charges not retained by the creditor, loan originator, or an
For example, certain bona fide third-party charges not retained by the creditor, loan originator, or
Mortgage broker as loan originator.
Under § 1026.43(g)(5), a creditor that is a loan originator must present an alternative covered
A loan originator organization that establishes written procedures for determining whether individuals
Section 1026.36(d)(1)(iii) permits an individual loan originator to receive, and a person to pay, compensation
(d)(1)(iv)(A) are met, § 1026.36(d)(1)(iv)(B)(1) permits certain compensation to an individual loan
The exclusion for bona fide third-party charges not retained by the creditor, loan originator, or an
are disclosed under § 1026.37(g)(4) if the creditor is aware of those items when it issues the Loan
guilty or nolo contendere does not render an individual unqualified under this § 1026.36(f) if the loan
The disclosure must identify the party making the payment, such as the consumer, seller, loan originator
For example, assume that during calendar year 2014 a creditor pays an individual loan originator compensation
applicable Federal law relating to the plan, copies of the plan and amendments thereto in which individual loan
The exclusion for bona fide third-party charges not retained by the creditor, loan originator, or an
creditor, the servicer (or an associated nonprofit entity) must have been the entity to which the mortgage loan