Fed Files Opposition in Appellate Court to Stay of LO Compensation Rule

``The Federal Reserve Board (FRB) has filed opposition in the United States Court of Appeals for the District of Columbia on Monday against the stay granted against the the final rule on loan officer compensation, officially known as Regulation Z; Docket No. R-1366, Truth-in-Lending. The National Association of Mortgage Brokers (NAMB) and the National Association of Independent Housing Professionals (NAIHP) were granted a stay implementation late last Thursday against the LO compensation rule on the eve of the April 1st date the rule was set be enforced. NAMB and NAIHP have until 10:00 a.m. EST on Tuesday, April 5 to counter the Fed's opposition. ''