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Just in case you've missed any of these developments or just needed a refresher, here is the latest on originator compensation reform. On Friday, April 1st, the US Court of Appeals granted a stay on Fed's LO Compensation rule. This delayed the implementation of the rule until the Court was given time to hear additional responses from the Fed and NAMB/NAIHP. Here is an excerpt from the court order: "Upon consideration of the emergency motion for expedited relief and the emergency motion to stay implementation...

According to a press release from the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AAMR), the Nationwide Mortgage Licensing System (NMLS) about which we have written in the past finally became operational on the first business day of the New Year.

Seven states are initial participants in the program...

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A coalition of housing activists and civil rights groups has called for a six month moratorium on foreclosures to provide time for financially troubled homeowners with time to solve their problems.

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Recently we reported on a new nationwide system for licensing and regulating mortgage lenders on the state level.

The system will include an Internet based central mortgage licensing system which will allow applicants to complete one set of forms and submit them to all states in which they do or wish to do business.

...last week the National Association of Mortgage Brokers (NAMB), the national trade association representing the mortgage brokerage industry, released a statement condemning the initiative...

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