No April's Fools Joke: Brokers Get Break on LO Comp -- For Now

This morning National Mortgage News was the first news organization to report that loan brokers won a stay against the LO compensation rule – but the battle is far from over. The stay expires next week with a new hearing on the squabble scheduled for April 5. (See the NMN website for a complete update.) But keep in mind that banks and thrifts (depositories) for months now have been tinkering with the comp plans for their retail LOs. From what we're told, there are some very angry LOs (top performers, that is) out there who are looking to jump ship to a funder that will offer the best comp deal. We reported a few months back that this could tip the scales toward nonbank lenders. Why? Answer: Because nonbank funders are more entrepreneurial and they understand the business much better than commercial banks. Of course, that's nothing new…