News Alert: Federal Appeals Court Suspends Loan Officer Compensation Rule

Late on March 31, The U.S. Court of Appeals in Washington suspended implementation of the new Loan Officer Compensation Rule set to go into effect today (April 1), the American Land Title Association has learned.

Sterbcow Law Group LLC, Saul Ewing, LLP and Herman, Herman, Katz & Cotlar filed a lawsuit March 9 on behalf of the National Association of Mortgage Brokers (NAMB) against the Board of Governors of The Federal Reserve System seeking to restrain implementation of a section of the Fed’s loan originator compensation rule.

Click HERE For More Information | American Land Title Association

 

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