At the NAMB Legislative & Regulatory Conference in Washington, D.C. this past March, a mortgage broker from Florida asked me, “When is the government going to quit interfering with mortgage originators and let us do our jobs?” My answer was a simple one, “Never.” Of my 15 years in the mortgage industry, there has only been two constants, change and government regulation. However, with NAMB—The Association of Mortgage Professionals at the helm representing small business and ALL mortgage originators today, I remain optimistic that our industry will continue to adapt, persevere and overcome any obstacle in our path.
Real threats to homeownership do exist such as the qualified mortgage (QM), qualified residential mortgage (QRM), appraisal issues, flat fee proposals, regulatory burdens on small business, etc. … (it’s a long list). These threats have forced the Government Affairs team at NAMB to shift focus more towards the regulatory arena and work with the Consumer Financial Protection Bureau (CFPB) directly. While our successes and wins with the CFPB may not be publicly noticeable, I assure you they do exist. We are very fortunate to have a good relationship with the CFPB, and we will continue to help educate the new regulator of the mortgage industry.
Although most of our time these days revolves around working with the CFPB to find equitable solutions to their mandates under the Dodd-Frank Act, we must continue to educate our legislators as well. This is why membership numbers and Political Action Committee (PAC) dollars are so important, particularly in an election year. Now is your opportunity to work with NAMB to get “face time” with influential legislators and decision-makers to not only let them know how their decisions have impacted small business and consumers, but to educate them in order to improve and help save the housing industry and the overall economy of this country.
Here is the bottom line, 2012 has already proven itself to be one of the most influential and significant years for mortgage professionals, consumers and small business. NAMB is YOUR voice as a mortgage originator, and will continue to represent the industry with honor and integrity. In order for NAMB to continue to be an effective advocate for mortgage brokers and mortgage professionals, you must participate in the political process either by supporting the PAC, volunteering, responded to calls to action, or simply calling your congressman.
The Government Affairs Chairman, just like all other NAMB positions, is a volunteer position. I accepted this position with honor because I care about the industry, supporting small business, and supporting consumer choice and protection. NAMB will continue to stay the course and fight the good fight … but we do need more in the industry to care about their livelihoods as much as myself and our current members.
Support YOUR industry and let YOUR voice be heard.
John H. P. Hudson is Government Affairs Committee Chair for NAMB. He may be reached by phone at (817) 247-4766 or e-mail
[email protected].
