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Home > Advocacy > Mortgage Action Alliance
Join the Mortgage Action Alliance 
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The Mortgage Action Alliance (MAA), Inc. ® is a voluntary, non-partisan and free nationwide grassroots lobbying network of real estate finance industry professionals, affiliated with the Mortgage Bankers Association. MAA is dedicated to strengthening the industry's voice and lobbying power in Washington, DC and state capitals across America. Get involved with MAA to play an active role in how laws and regulations that affect the industry and consumers are created and carried out by lobbying and building relationships with policymakers. It only takes a moment to get started, and you do not have to be a member of MBA to enroll.
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Mortgage Action Alliance members are all strongly encouraged to attend MBA's National Policy Conference in Washington, DC on April 13 and 14, 2010. The National Policy Conference is the focal point for policy development in the real estate finance industry. Hundreds of MAA members, at all levels of experience, will gather to examine and discuss the issues. On April 14th, MAA members will be going to Capitol Hill to call on Congress to take action to rebuild the nation's economy, increase homeownership, strengthen investment in, and development of, affordable rental housing and community development. To register for the National Policy Conference, click here.
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| Senate Banking Committee Chairman Christopher Dodd (D-CT) unveiled his financial regulatory reform bill on Tuesday last week, officially kicking off the Senate's work on regulatory reform. The 1,136-page Restoring American Financial Stability Act would create a single federal banking regulator - a key difference from both the House and Obama administration proposals. It would also create a separate Consumer Financial Protection Agency and another independent agency to address systemic risks throughout the financial system, while increasing regulation of over-the-counter derivatives, hedge funds, credit rating agencies, and executive compensation. The House and Senate are now acting quickly to move financial services regulatory reform legislation out of committee and to final votes, setting the stage for a busy holiday season on Capitol Hill.
Also last week, Housing and Urban Development Secretary Shaun Donovan and Federal Housing Administration (FHA) Commissioner David Stevens released FHA's actuarial report indicating that the agency's capital reserves had taken a hit from projected loan defaults related to the economic recession. Through statements to the media and messages to Congress, MBA defended the important role of FHA while also underscoring the need for continued risk management reforms.
Lastly, on Friday HUD announced that it "will exercise restraint" in enforcing new regulatory requirements under the Real Estate Settlement Procedures Act (RESPA) during the first four months of 2010. The announcement is an important step in helping the industry transition to the new RESPA requirements.
In this Issue:
- HUD Announces Restraint in RESPA Enforcement through April 2010 - First Few Months of New RESPA Rule;
- Chairman Dodd Releases Financial Reform Blueprint - MBA Points Out Concerns and Areas for Improvement;
- FHA Releases Actuarial Report - MBA Sends Strong Messages of Support for FHA to Congress and the Media;
- MBA Sends Letter to Treasury Department Requesting Clarification of Tax Treatment for Loans Modified Under HAMP;
- MBA Joins Industry Coalition to Support Estate Tax Relief Legislation;
- HUD Releases New Condo Policies for which MBA had Advocated; and,
- Joint MBA and MBA of the Carolinas Letter to North Carolina Banking Commissioner Urges Reconsideration of Proposed Rules.
Read the full Advocacy Update.
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| | | 4/13-4/14 | MBA National Policy Conference | |
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