Mortgage Brokers Win Appeals Bid Temporarily Blocking Fed Loan Fees Rule

The U.S. Court of Appeals in Washington granted emergency motions from the National Association of Mortgage Brokers and the National Association of Independent Housing Professionals which argue the rule unfairly penalize brokers, who won’t be able to pay loan officers from consumer-paid fees.

AFR Wholesale Business As Usual:

All executed Originator Compensation Agreements are hereby suspended until further notice. All pre-existing rate sheets and Rate Lock forms are available on our website at www.afrwholesale.com.

We will continue to keep you updated as we gain additional information.