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Marc Savitt

QRMs and Consumer Protection Take the Hot Seat on Capitol Hill

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On Wednesday, the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity held a hearing titled "Mortgage Origination: The Impact of Recent Changes on Homeowners and Businesses." The Subcommittee hearing focused primarily on the impact that new laws and regulations have had on consumers and the availability of credit in the mortgage finance markets.Click to continue

A walking contradiction? FHA's Stevens foreshadows RESPA reform confusion for consumers

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Webster’s New Universal Unabridged Dictionary, defines the word “simplify” as “to make less complex or complicated; make plainer or easier.” We as a society know that in today’s times, when government interjects itself in the affairs of the people in order to make things “simple,” that simplicity doesn’t always come to fruition, and in fact, often results in unintended negative consequences.Click to continue

NAMB's Savitt hand delivers 120,000-plus anti-HVCC signatures to Cuomo's NYC office

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Marc Savitt, immediate past president of the National Association of Mortgage Brokers (NAMB), along with Frank Garay and Brian Stevens (co-creators of Think Big Work Small) and a contingent of 20-plus mortgage brokers and appraisers, visited the New York City offices of New York State Attorney General Andrew Cuomo to hand deliver 35 boxes worth of anti-Home Valuation Code of Conduct (HVCC) petitions containing 120,000-plus signatures from both mortgage industry professionals and consumers.Click to continue

Charting the course for the future of the broker industry: Lone Star State native Jim Pair leads NAMB into a new era

Jim Pair photo credit Chuck Nelson

Lately, with each subsequent passing of the gavel of National Association of Mortgage Brokers (NAMB) leadership, it could be equated to a grown up’s version of the game Hot Potato. Legislation, proposed regulations, a downsizing and consolidating industry, attacks from the media, public scrutiny … the list of cons related to the broker industry seems to outweigh the list of pros for each successive NAMB president of late.Click to continue