MBA Applauds Passage of S. 2155

MBA Applauds Passage of S. 2155

WASHINGTON, D.C. (March 15, 2018) – (RealEstateRama) — David H. Stevens, CMB, President and CEO of the Mortgage Bankers Association (MBA), released the following statement applauding Senate Banking Chairman Crapo (R-ID) and the bi-partisan coalition of senators that worked to ensure passage of S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act.

“I want to commend Chairman Crapo and the bi-partisan coalition of senators that worked for months to ensure the passage of this important piece of legislation. This bill will further ensure consumer protections and adequate access to mortgage credit. Specific mortgage related portions of the bill include: SAFE Act amendments which provide mortgage loan originators with 120 days of transitional authority to originate when moving from a federal depository to a non-bank (or across state lines), Subjecting Property Assessed Clean Lending (PACE) or property retrofit loans to Truth In Lending Act consumer protections, critical consumer protections to U.S. veterans who use the VA Home Loan program, clarifying the High Volatility Commercial Real Estate rule to help promote sustainable construction and development, and targeted TILA/RESPA Integrated Disclosure fixes. MBA now calls on the House to swiftly take up this bill for consideration.”

CONTACT
Rob Van Raaphorst

(202) 557- 2799

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MBA

The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation’s residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,400 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field.

Contact:

Mortgage Bankers Association
1331 L Street, NW
Washington, DC 20005

Phone: (202) 557-2700

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