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CFPB Pursues Screening Standards for Mortgage Originators

in Government May 10, 2012 816 Views

The Consumer Financial Protection Bureau unveiled new rulemaking proposals Thursday that would require background checks for mortgage originators and complement a previous rule that prohibits loan officers from steering borrowers to higher-priced products. Together with these rules, others would provide consumers with discounts for paying mortgage origination points, mandate comparison plans for those interested in tracking different products, and ban brokerage firms from charging fees that vary by the loan size.

To read the full story, visit our sister publication at ""theMReport.com"":http://www.themreport.com/articles/cfpb-pursues-screening-standards-for-mortgage-originators-2012-05-10.

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