September 1, 2010

Final Rule Governing Loan Originator Compensation Practices

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On August 16, 2010, the Federal Reserve Board (“Board”) issued two proposed rules and three final rules governing federal Truth-in-Lending Act (“TILA”) requirements for residential mortgage loans. This Client Alert summarizes the Board’s final rule that governs loan originator compensation practices.

Previous Client Alerts address three of the Board’s issuances, and a later Client Alert will discuss the final issuance.

Please see full publication below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.