When using the MOTU Audio System and monitoring through effects, a delay will be introduced. To avoid this you should use direct hardware playthrough if your hardware supports it. This setting can be accessed from Setup/Configure Audio System/Input Monitoring Mode. In the Input Monitoring Mode menu, set it to Direct Hardware Playthrough.

If you require the ability to monitor through effects, keep this setting in monitor through effects mode and lower your buffers in the Configure Hardware Driver menu to reduce this latency.