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Question 1 of 4
1. Question
A mortgage broker receives additional compensation for steering a borrower into a loan with a higher interest rate and requiring the borrower to purchase title insurance from an affiliated company.
Why could this compensation structure violate Regulation Z?
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Question 2 of 4
2. Question
A lender reduces a loan originator’s compensation to offset the cost of lowering a borrower’s interest rate during the transaction after a pricing issue arises.
Why could this practice violate the final rule?
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Question 3 of 4
3. Question
A mortgage company pays loan originators larger bonuses based on the profitability generated from pools of mortgage transactions they originate.
Why could this compensation method violate Regulation Z?
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Question 4 of 4
4. Question
A mortgage company establishes a compensation plan that includes employer contributions to a 401(k) plan, limited non-deferred bonuses for loan originators with fewer than ten transactions during the prior 12 months, and bonuses capped at less than 10 percent of total compensation.
How are these compensation arrangements generally treated under the final rule?
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