US EditionNational Mortgage Lender Sued by Consumers over LO Comp - Weiner Brodsky Kider PC
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National Mortgage Lender Sued by Consumers over LO Comp - Weiner Brodsky Kider PC
A recent putative class action complaint, filed in the U.S. District Court for the District of Maryland by five consumers, alleges that a national mortgage lender illegally compensated loan originators (MLOs) based on loan terms, in violation of TILA and Regulation Z’s Loan Originator Compensation Rule. The complaint alleges that the lender required MLOs first to try to sell borrowers on loans with inflated interest rates or fees, and then, if a…
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