NAMB requests 12-month delay in LO compensation enforcement and further clarification on changes to Regulation Z JANUARY 26, 2011?The National Association of Mortgage Brokers (NAMB) has announced the release of a letter (copy of the letter can be found here) that the trade association has forwarded to the Honorable Ben S. Bernanke, Chairman of the Federal Reserve Board, and Sandra Braunstein, Director of Consumer and Community Affairs of the Federal Reserve Board. In the letter, NAMB has asked for the delay in enforcement of the changes to Regulation Z for 12 months and for further clarification pertaining to loan originator (LO) compensation which is set to be enforced as of April 1, 2011.
