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

NAMB and MBA Seek Industry Support on Congressional Legislation

Phil Hall
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.”

 
Published
Nov 21, 2017
SEC: Angel Oak Capital Advisors Misled Investors

Company, portfolio manager agree to pay $1.825M combined in civil penalties.

Regulation and Compliance
Aug 10, 2022
MISMO Seeks Public Comment On 3 eMortgage Resources

Updates proposed to MISMO Business Glossary, eMortgage Glossary, and eModification Reference Flyer.

Regulation and Compliance
Aug 05, 2022
As Expected, The Fed Raises Rate By Another 0.75%

Experts say housing industry will shrug off the latest increase.

Regulation and Compliance
Jul 27, 2022
AmTrust Ends 'No-Poach' Agreement, Pays $1.25M Fine In Deal With N.Y. AG

Company also agrees to cooperate with ongoing investigations of the title insurance industry.

Regulation and Compliance
Jul 25, 2022
NAR Chief Economist: Nationwide Home Price Decline Won't Happen Soon

Lack of inventory continues to support growth in prices, which have increased year over year for 124 straight months.

Regulation and Compliance
Jul 22, 2022
FHFA Director: Fannie, Freddie Need $300B Combined In Capital

So far, the enterprises combined have built $83.5 billion in reserves, or about 27% of the target.

Regulation and Compliance
Jul 21, 2022