March 31st at the end of business the U.S. Court of Appeals granted a stay on the Federal Governments Loan Officer Compensation Rule, the rule will be put off until the 5th of April until a another hearing could be conducted.
So, After months of and many lawsuits against the Fed, the NAMB was able to delay the implementation of the LO Comp Rule at least for now.
With so many different ideas of how to implement the rule and not having a clear cut format or guidelines , has left many lending institutions scratching there heads. But at least for now they have a slight reprieve from the new Loan Officer Compensation Rule.
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