NAMB meets with staff from Attorney General Coumo's officeMortgagePress.comOFHEO, NAMB, Marc Savitt, Roy DeLoach, Andrew Cuomo, appraisers, Administrative Procedures Act
National Association of Mortgage Brokers President-Elect Marc
Savitt, CRMS and Executive Vice President Roy DeLoach met with
staff from New York Attorney General Andrew Cuomo's office to
discuss a proposed agreement with the GSEs and the Office of
Federal Housing Enterprise Oversight (OFHEO) barring Mortgage
Brokers from selecting, retaining or paying appraisers for any
loans purchased by the GSEs starting on Jan. 1, 2009.
NAMB representatives fully explained the unintended consequences
of the agreement with mortgage brokers and that the proposal
violates the Administrative Procedures Act (APA). Staffers were
also provided information on mortgage brokerage licensing in each
state and seemed very open to suggestions on improving the
For more information, visit www.namb.org.