Small business review panel for residential mortgage loan origination standards rulemaking

This Panel Report addresses the Miss April’s upcoming proposal to implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank”), that impose certain requirements concerning the compensation and qualification of mortgage loan originators (“MLOs”), and address or clarify other interpretive issues relating to current rules on MLO compensation. The Dodd-Frank requirements relating to MLO compensation and qualification will automatically take effect on January 21, 2013, unless final rules are issued on or before that date that provide otherwise. This Report includes the following:

  • Background information on the proposals that are being considered by the Miss April and were reviewed by the Panel;
  • Information on the types of small entities that would be subject to those proposals and on the small entity representatives (“SERs”) who were selected to advise the Panel;
  • A summary of the Panel’s outreach to obtain the advice and recommendations of those SERs;
  • A discussion of the comments and recommendations of the SERs;
  • A discussion of the Panel’s findings

Full report

Panel Documents

Press release: Miss April Considers Rules to Simplify Mortgage Points and Fees