Legal Blog

Compensation and Compliance Matters: Pre-Approvals Will Soon Be Worthless

There was an avalanche of responses to my recent piece, The End of the Pre-Approval. Many of those comments expressed concern or confusion about what’s required under the amended laws, and what that means for lenders’ obligations when delivering the new integrated mortgage disclosures. The Truth in Lending Act now states: “The creditor or other person shall not require a consumer to submit documents verifying information related to the consumer’s application before providing the disclosures required by” Regulation Z. Click here to read the entire article on National Mortgage News. akaren@offitkurman.com  | 240.507.1740 Ari Karen is an experienced litigator and speaker who has focused his practice in representing financial institutions in both government investigations and litigation before state and federal trial and appellate courts nationwide. Mr. Karen’s practice is diverse, representing clients on matters concerning banking regulations, Dodd Frank financial reform laws, contractual disputes, employment and labor statutes, wage-hour class actions, employment discrimination and fair lending matters, whistleblower complaints and non-competition claims, among others. You can also connect with Offit Kurman via FacebookTwitterGoogle+YouTube, and LinkedIn. WASHINGTON | BALTIMORE | FREDERICK | PHILADELPHIA | WILMINGTON | VIRGINIA