NAMB and MBA Seek Industry Support on Congressional Legislation – NMP Skip to main content

NAMB and MBA Seek Industry Support on Congressional Legislation

Nov 21, 2017
Two of the nation’s leading mortgage industry trade groups are rallying their respective members to influence a pair of bills now working their way through Congress

Two of the nation’s leading mortgage industry trade groups are rallying their respective members to influence a pair of bills now working their way through Congress.
 
NAMB issued a call to action for its members to support H.R. 2570, The Mortgage Fairness Act of 2017. In an e-mail from Chris Bettis, the 2017-18 Chairman of NAMB’s Government Affairs Committee, the bill is described as a “a technical correction that will create greater access to credit for many low to moderate income consumers that have been limited in their home buying options due to affordability and smaller loan amounts.”
 
Bettis also recorded a YouTube video highlighting the legislation’s goals.
 
Separately, the Mortgage Bankers Association’s (MBA) Mortgage Action Alliance called for industry professionals to lobby on behalf of S. 2155, The Economic Growth, Regulatory Relief and Consumer Protection Act. The trade group dubbed this a “broad regulatory relief package” with bipartisan supporting, adding in an email plea that the legislation “contains several of MBA’s priorities including: SAFE Act Amendments to create a transitional authority to originate loans, consumer protections for Property Assessed Clean Lending (PACE) loans, relief from HMDA reporting requirements for some institutions, as well as important fixes to TRID. Advocacy from our industry has kept these priorities front and center all year, and we need your help to ensure this legislation has the support it needs for full Senate passage.”

 
About the author
Published
Nov 21, 2017
Senate Passes 21st Century ROAD To Housing Act In 85-5 Vote

Sweeping housing package heads back to House after Senate clears final version with broad bipartisan support

MISMO Updates Business Glossary To Support AI, eMortgages

New definitions covering eHELOCs, remote online notarization, valuation modernization, and compliance initiatives aim to improve consistency

Underwriters Don’t Slow Down Loans. They Eliminate Uncertainty.

ndustry’s biggest bottleneck is not underwriting itself — it is the uncertainty that reaches underwriting too late in the process. When validation happens upstream, speed follows naturally.

MISMO Launches AI Governance Framework For Mortgage Lenders

New FRAME toolkit gives lenders, servicers, and technology providers a roadmap for managing AI risk while supporting innovation

CFPB Tells Lenders Immigration Status Can Factor Into ATR Analysis

CFPB frames immigration status as a potential ability-to-repay factor when future U.S.-based income is at risk

UAD 3.6 Deadline Nears; First American Earns Verification

First American's ACI Sky Workbench gains verification ahead of the Nov. 2 implementation date for the GSEs' updated appraisal reporting requirements