MBA Praises Passage of H.R. 6737, The Protect Affordable Mortgages for Veterans Act of 2018

MBA Praises Passage of H.R. 6737, The Protect Affordable Mortgages for Veterans Act of 2018

WASHINGTON, D.C. (September 28, 2018) – (RealEstateRama) — Robert D. Broeksmit, CMB, President and CEO of the Mortgage Bankers Association (MBA), made the following statement regarding the passage of H.R. 6737, The Protect Affordable Mortgages for Veterans Act of 2018:

“MBA would like to commend the House for passing last evening – by voice vote – H.R. 6737, which addresses an unintended consequence from the enactment of Title III of S.2155, ‘Protecting Veterans from Predatory Lending,’ by allowing VA-guaranteed refinance loans to remain eligible for pooling in Ginnie Mae securities. More broadly, it will help to ensure the confidence in the VA home loan program that is necessary for it to remain a viable choice for the nation’s service members and veterans.

A special thanks goes to House Financial Services Committee Chairman Jeb Hensarling and Ranking Member Maxine Waters, along with Representatives Lee Zeldin, Kyrsten Sinema, and Claudia Tenney for their bipartisan efforts to carefully work with Ginnie Mae to craft this legislation and move it so rapidly through committee and to the House floor. MBA now calls on the Senate to swiftly pass this bill.”

CONTACT
Rob Van Raaphorst

(202) 557- 2799

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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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