As it continues to offer services and benefits to enhance the relationship with its member lenders, Lenders One Mortgage Cooperative, a national alliance of mortgage bankers, recently sponsored the Third Annual Lenders One Legislative Summit in Washington, D.C. The summit gave members an opportunity to hear from and speak with representatives from Fannie Mae, FHA and housing experts on Capitol Hill. Members then had several meetings with congressmen and senators.
In addition to helping members arrange meetings with congressmen and senators from their respective states, Lenders One provided members with a forum to discuss the financial health of FHA and whether Fannie Mae and Freddie Mac should become privatized.
“Providing our members with this kind of access to federal housing agencies as well as lawmakers gives us the opportunity to have our position on important housing issues heard by the people who are now playing a major role in how we conduct business,” said Scott Stern, CEO of Lenders One. “People inside the beltway get to hear what is really happening on Main Street.”
With the federal government having an even greater presence in the stability of the mortgage industry, Lenders One members play a pivotal role in letting decision makers know what issues concern them. Members shared their concern about warehouse lines and encouraged that a bipartisan letter be sent to the Federal Reserve regarding the matter. Lenders One members also advocated fully funding FHA and permanently increasing the multifamily loan limits for structures with elevators as well as loan limits for single-family homes. Another area in which members ensured was addressed is raising GSE loan limits and extending their credit facility.
“These are just a few key issues that lenders across the country are concerned about and want to see clear choices made,” Stern said. “At Lenders One we have taken the initiative to ensure that lenders have a chance to address them.”
For more information, visit www.lendersone.com.