NAMB

Hearing Held on Temporary Halt of LO Comp Rule 

In a hearing in U.S. District Court on Tuesday, attorneys for the plaintiffs provided arguments supporting a temporary restraining order and preliminary injunction ceasing the implementation of the Loan Originator Compensation rule on Friday, April 1, 2011.  The National Association of Mortgage Brokers (NAMB) expressed confidence that the hearing provided them the opportunity to respond to questions posed by Judge Beryl Howell. “NAMB representatives were given the opportunity to present proof before Judge Howell and provide her with additional information to delay the FRB’s rule on LO compensation and grant an injunction,” said Mike Anderson, CRMS of Essential Mortgage,