Legal Blog

Compensation and Compliance Matters: Loan Officer Comp Rules Obscured by ‘Unforeseeable Circumstances’

Under the current loan officer compensation rules, one point that isn’t completely clear is whether a lender may charge LOs a preset flat dollar amount in the event they make a mistake. Similarly, a generic number of allowed pricing concessions could encourage incentive to upcharge consumers across the board — the exact behavior the rules are designed to prevent. Click here to read the entire article on National Mortgage News.  | 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.