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Universal Numbers Reducing Mortgage Fraud

Feb 25, 2001

Congressman Ehrlich-1st Recipient of NAMB AwardMortgagePress.comRESPA, Real Estate Settlement Procedures Act, National Association of Mortgage Bankers, NAMB, Congressman Robert L. EhrlichThe National Association of Mortgage Bankers (NAMB) named Congressman Robert L. Ehrlich, Jr. with its first-ever Defenders of Free Enterprise award in recognition of his support of American small business and the mortgage industry. Representative Ehrlich, the first to be given the honor, introduced key legislation, specifically H.R. 1283, the Real Estate Settlement Procedures Act (RESPA) Class Action Relief Act-legislation sought to protect Mortgage Brokers from petty class action lawsuits. The Congressman's effort resulted in Congressional Hearings on the important role of Mortgage Brokers. Along with his colleagues, Congressman Ehrlich worked for the passage of a policy statement from the Department of Housing and Urban Development (HUD) clarifying the legality of yield spread premiums. "I am pleased that NAMB has chosen to honor me in this manner," stated Congressman Ehrlich. "This award demonstrates the extent to which I support policies which benefit the working families and businesses of the Second Congressional District." "I appreciate Congressman Ehrlich's relationship with myself and Mortgage Brokers around the United States, and respect his courage to stand up for what is right, even at considerable risk," says John Councilman, Federal Legislative Chairman of Maryland Association of Mortgage Brokers. "The National Association of Mortgage Brokers gave this award in recognition of Congressman Ehrlich's many achievements in shaping mortgage finance public policy. He demonstrated consistency in character for confronting tough issues and for championing free market principles," noted Brian Kinsella, NAMB Executive Director.
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Feb 25, 2001
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