FED to Control Compensation of Employees, Real Estate Commissions will suffer and Auto Dealers are next…
NAMB Files Lawsuit Against the Federal Reserve to Prevent April 1st Implementation of LO Compensation Rule
NAMB fights to preserve and protect the mortgage broker and prevent limiting credit opportunities to consumers. Read the press release here. You can access a copy of the complaint here.
A letter of support co-authored by Senators David Vitter from Louisiana and Jon Tester from Montana was sent today, March, 11, 2011 to Ben S. Bernanke, Chairman of the Board of Governors of the Federal Reserve Board, requesting a delay in the implementation of the Fed’s loan originator compensation rules.
To read the Federal Reserve’s filed response #1 click here.
To read the Federal Reserve’s filed response #2 click here.