What a conference! The National Association of Mortgage Brokers (NAMB) 2011 Legislative & Regulatory Conference was sold out, with 200-plus attendees, great speakers and panelists, great food and an opportunity for some face-to-face, peer-to-peer networking. I would like to start off by giving a huge thank you to Denise Leonard for doing an absolutely spectacular job with putting this whole conference together and a special thanks to Olga Kucerak for helping Denise at the conference. The service from the host hotel, the Capitol Skyline Hotel in Washington, D.C., was exceptionally good and accommodating to our group.
I would like to especially thank Provident Funding for stepping up to the plate as sponsor of this year’s Legislative & Regulatory Conference. They demonstrated their commitment and loyalty to the mortgage broker and truly communicated their support for our profession.
It’s been a long time since we’ve seen a Legislative & Regulatory Conference as successful as this one. In fact, we actually made a profit and after all that we are facing with the April 1st deadline of the Federal Reserve rule on loan originator compensation, our group joined together with an energy and enthusiasm like I’ve never seen before. The passion of all in attendance was remarkable, and I can honestly say that the 200-plus attendees were true die hard professionals who take our profession very serious.
The event was a quick, yet informative, two-day affair, consisting of one day of speakers and panelists and a second of a lobbying trip to Capitol Hill. Some of our guests included Vicki Bott, assistant secretary of the U.S. Department of Housing & Urban Development (HUD); Barton Shapiro, director of RESPA for HUD; Dr. Winslow Sargeant, chief counsel for the U.S. Small Business Administration Office of Advocacy; Peggy Twohig, director of the Office of Consumer Protection for the U.S. Department of the Treasury; and Roy DeLoach of DC Strategies, chief lobbyist for the National Association of Mortgage Brokers (NAMB).
The hot topic was the Federal Reserve Board’s loan officer compensation rule LO and Dr. Winslow Sargeant received a standing ovation and a huge roar of applause for his role in the two letters SBA Advocacy issued to the Federal Reserve Board in asking for a delay in the LO compensation rule. Every session was standing room only, and the participants were very engaged with great questions for the panelists. In fact, no one left early during any session. We ended the day by distributing more than 300 lobby day packets that were to be presented the following day during the trip to Capitol Hill.
Then, we all attended the opening reception with a delicious spread of Italian cuisine and of course an open bar. The room was packed with everyone engaged in deep conversations about the panelists, networked and discussed the red hot topic of the LO compensation rule.
Day two of the 2011 Legislative & Regulatory Conference, better known as Lobby Day, was certainly a day to remember. Any of the lawmakers were shocked to hear about the Federal Reserve Board’s LO compensation rule, and almost all were committed to help in any way they could to stop this rule from being enforced on April 1st.
In the end, I think we can all say that the 2011 Legislative & Regulatory Conference was an event that brought unity and a sense of urgency to all who attended. If we all stand together as one large voice, we can make a difference, and for those of you who did not attend, I would strongly suggest you put it on your list of things to do for 2012.
Mike Anderson, CRMS of Essential Mortgage in Metairie, La. is Government Affairs Committee Chair of the National Association of Mortgage Brokers. He may be reached by phone at (504) 451-3339 or e-mail [email protected]
Scenes From the NAMB 2011 Legislative & Regulatory Conference
March 14–15 at the Capitol Skyline Hotel in Washington, D.C.
President Andy Harris (left) and Vice President Jered Helton (right) from the Oregon Association of Mortgage Professionals (OAMP) visit with Rep. Kurt Schrader (D-OR) (center) during NAMB’s 2011 Legislative & Regulatory Conference in D.C.
NAMB Government Affairs Committee Chair Mike Anderson welcomes attendees to the 2011 Legislative & Regulatory Conference
Members of the Pennsylvania delegation with NAMB President Mike D’Alonzo (far right) at the Dirksen Senate Office Building during Lobby Day
Denise Leonard and NAMB President Mike D’Alonzo pause for a photo during the networking reception
Roy DeLoach of DC Strategies, chief lobbyist for NAMB, discusses the latest on the Federal Reserve’s LO compensation rule
NAMB President Mike D’Alonzo, NAMB Government Affairs Committee Chair Mike Anderson, NAMB Past President George Hanzimanolis, Dick Morin from the Maine Association of Mortgage Professionals, Olga Kucerak, NAMB Director Walt Scott and NAMB Lobbyist Roy DeLoach
Representatives from the Missouri Association of Mortgage Professionals (MAMP) meet with Rep. Vicky Hartzler (center) during the 2011 Legislative & Regulatory Conference
Members of the Pennsylvania delegation met with Sen. Pat Toomey (fourth from left) in Washington, D.C. to discuss the LO compensation rule
Cara M. Britton and Melissa M. Hayes from First Liberty Mortgage LLC d/b/a CT Liberty Mortgage LLC were on hand for NAMB’s Lobby Day representing the Connecticut Association of Mortgage Brokers (CTAMB)
Gregory K. Raven (left) and Kathy Raven (right) of Raven Financial Services, representing the Mortgage Professionals of South Carolina (MPSC) with Dr. Winslow Sargeant, chief counsel for the U.S. Small Business Administration Office of Advocacy (center)
Herman Churchwell from Provident Funding Associates, sponsors of the NAMB 2011 Legislative & Regulatory Conference
NAMB Past President Harry Dinham (left) and Missy MacNaughton from Cole Taylor Bank (right) representing the Texas Association of Mortgage Professionals met with Rep. Sam Johnson (center) during NAMB’s trip to Capitol Hill
Barton Shapiro, Director, Office of RESPA & Interstate Land Sales for HUD, was on hand to provide attendees with updates to changes with RESPA
Vicki Bott, Deputy Assistant Secretary for Single Family Programs for HUD, discusses industry-related issues with Legislative Conference attendees