We are beginning this year by swimming through an ocean of turbulent legislative and regulatory issues. Some of the issues that will have serious implications for our industry are:
► The Home Valuation Code of Conduct (HVCC);
► HR 3126 (the Consumer Financial Protection Agency Act of 2009);
► Federal Reserve Board proposed changes to regulation;
► RESPA reform;
► Healthcare reform efforts and the potential negative impact on small business; and
► The Senate companion bill to HR 1728 (Mortgage Reform and Anti-Predatory Lending Act).
To learn more about these legislative and regulatory issues, visit the National Association of Mortgage Brokers Web site (www.namb.org) and watch for e-mail updates from NAMB and how we are going to bat for you and our industry. Fortunately, we have a very able and effective Government Affairs Committee, comprised of volunteers who represent all sections of our nation, a legislative NAMB staff headed by our Executive Director Roy DeLoach, and a very experienced and capable lobby team.
Our strongest asset to address these issues is our “grassroots” efforts. You have responded in the past to our calls-to-action and have made a significant impact with your representatives and senators and various governmental agencies. We need to keep our grassroots efforts strong and continually engaged for the challenges we will face this year.
One way to strengthen our grassroots campaign is for every member to visit with their representative or senator while they are at home in your district. Since Congress is now on their summer recess, this is the perfect time to take action. Please call their district office and make an appointment to discuss our industry and the benefit and services we, as mortgage professionals, provide the consumer. You will be surprised at how little many of our representatives know about our industry. This is your opportunity to provide them with a better understanding of the role of the mortgage broker and the benefits provided by us to the economy and the consumer. If you will do this on a consistent basis, you will have a positive response when you have to contact them on a specific topic.
As I stressed in my last message to you, we must step up and support those who have supported us. This means that we need a Political Action Committee (PAC) fund to help re-elect those who have supported our industry. Please log on to www.namb.org, click on the “Government Affairs” tab, click on “NAMBPAC” and click on “Donate to NAMBPAC” and make a donation now.
Last but just as important, you need to participate in NAMB’s Lobby Day in Washington, D.C. This is where we hear from some of the major people who are proposing legislation or new rules and regulations. You have the opportunity to go to Capitol Hill and visit your congressman and senators about the issues of most concern to our industry and to the consumer.
Our success this coming year depends upon all these parts working together. Members working with our Government Affairs Committee, staff and the lobby team, the support of our PAC, you participation in our calls-to-action for our grassroots efforts, and most importantly, visiting and working with your representative and senator while they home in district. If we work together on all these fronts, we will continue to achieve the success we have enjoyed in the past.
Congress may be in recess, but it's time we got to work!
Jim Pair, CMC is with Mortgage Associates Corpus Christi and is president of the National Association of Mortgage Brokers.