You should review the Official Interpretations to Section 1026.35(a)(1) of Regulation Z, which clarify who is and who is not a loan originator. Just making a referral does not cause an employee to become a loan originator or a mortgage loan originator. Asking probing questions and then referring a customer to a specific originator makes an employee a loan originator.
You must obtain three forms of information for certain loan originators – a criminal background check, a credit report and answers to the NMLSR questions. You must also provide specific training, which is broader than just Regulation Z, based on the loan originators duties.
Compensation paid to a loan originator who is an employee of the creditor is not included in the total of points and fees.