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LO Compensation Gets Complicated
A number of issues have arisen as a result of a new government opinion on mortgage originator overtime -- including the overtime rate for super-producing originators. A Webinar on the subject provided insight into employer liability and offered some advice about dealing with potential overtime litigation.
The Webinar, Must You Pay Mortgage Loan Officers Overtime? Minimizing Your Risk Of Liability After The DOL's New FLSA Opinion, was hosted today by Thomson Reuters today and featured Patton Boggs LLP partners John Socknat and Douglas Mishkin as well as MortgageDaily.com Publisher Sam Garcia.
At issue is the U.S. Department of Labor's recently announced interpretation of the Fair Labor Standards Act's applicability to mortgage loan originators.
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Complying With FHA Appraisal Requirements
A recent event about new appraisal requirements at the Federal Housing Administration covered several issues including the meaning of reasonable and customary fees. The event's panelists included an appraiser for the U.S. Department of Housing and Urban Development and representatives from two appraisal trade groups.
AMCs Versus In-House
An appraiser for the U.S. Department of Housing and Urban Development, a trade group representing appraisers and another trade group representing appraisal management companies recently weighed in about the merits of using AMCs, appraisal management technology and in-house appraisal management.
Reverse Requirements Revised
Proposed reverse mortgage requirements at financial institutions wouldn't apply to proprietary products. Reverse program updates were announced for Federal Housing Administration loans and for servicers of Federal National Mortgage Association loans, while a trade group hosted a Webinar about reverse mortgage advertising.
HUD Holding Free RESPA Rule Webinars
Mortgage lenders unsure about how to handle upcoming changes under the new Real Estate Settlement Procedures Act rule can participate in a series of online events hosted by the U.S. Department of Housing and Urban Development.
FHA Appraisal Webinar Planned for Jan. 20
A Webinar on changes to the Federal Housing Administration's appraisal process has been planned for Jan. 20, 2010. Panelists include officials from the Appraisal Institute, the U.S. Department of Housing and Urban Development and an appraisal management company trade group.
Help for Compliance
Several recent offerings aim to ease compliance with constantly changing regulations. One involves company manuals, and another involves a series of Webinars.
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