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National Association of Independent Housing Professionals (NAIHP)

Medical Debt Responsibility Act Enters Critical Phase–Help Support a Crucial Cause!

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The Medical Debt Responsibility Act, federal legislation HR 2086 and S 2149, is entering a critical phase as the calendar of the 112th Congress is running short. This proposed change in the law would require medical collections to be removed completely (not just shown as paid) from a consumer’s credit report within 45 days from the date of payment. This is a common sense bill that everyone should be able to embrace, as consumers typically don’t “choose” to frivolously over-consume medical services.Click to continue

The Smoking Gun ... LO Compensation

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On April 6, 2011, the Federal Reserve Board's loan originator (LO) compensation rule went into effect, despite the best efforts of numerous industry organizations, a federal agency, congressional legislators, and private citizens to prevent such implementation. Although the National Association of Independent Housing Professionals (NAIHP) has withdrawn its appeals case in order to pursue other options, the National Association of Mortgage Brokers (NAMB) continues its legal challenge in the U.S. District Court for the District of Columbia.Click to continue

Judge Denies NAMB’s Temporary Restraining Order Against the Fed’s LO Compensation Rule

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The National Association of Mortgage Brokers (NAMB) has had their request for a temporary restraining order (TRO) against the Federal Reserve Board’s loan originator compensation rule denied by Judge Beryl Howell today in U.S. District Court for the District of Columbia. NAMB was seeking a TRO against the Fed rule, officially known as Regulation Z; Docket No. R-1366, Truth-in-Lending, as the rule is set to be enforced as of this coming Friday, April 1, 2011.Click to continue

Fed Files Motion to Consolidate NAMB and NAIHP LO Compensation Suits

Lawsuit/Copyright: Getty Images/Credit: Jupiterimages

The Federal Reserve System has requested a consolidation of similar lawsuits filed by both the National Association of Mortgage Brokers (NAMB) and the National Association of Independent Housing Professionals (NAIHP) that seek to delay implementation of the loan originator compensation rule (Regulation Z; Docket No. R-1366, Truth-in-Lending) to be enacted by the Federal Reserve Board’s Final Rule on April 1st. The Board of Governors of the Federal Reserve System, Ben S.Click to continue