Finance
A Michigan lender's 'yield spread premium' paid by a lender to a mortgage broker was primarily regulated under:
ATILA
BRESPA
CDodd-Frank Wall Street Reform Act✓ Correct
DECOA
Explanation
The Dodd-Frank Wall Street Reform and Consumer Protection Act significantly restricted yield spread premiums and required mortgage loan originators to be compensated based on loan amount, not interest rate, to prevent steering borrowers to higher-rate loans.
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