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MBA Statement on Passage of SAFE Transitional Licensing Act

MBA Statement on Passage of SAFE Transitional Licensing Act

WASHINGTON, D.C. – May 24, 2016 – (RealEstateRama) — David H. Stevens, CMB, President and CEO of the Mortgage Bankers Association (MBA) offered the following statement on today’s passage of H.R. 2121, the SAFE Transitional Licensing Act, by the U.S. House of Representatives:

“MBA commends the House of Representatives for unanimously passing H.R. 2121, the SAFE Transitional Licensing Act. This is an important piece of bipartisan legislation which will help all lenders recruit experienced mortgage loan officers without unnecessary barriers to employment mobility and job opportunity. It provides mortgage loan officers nationwide the ability to relocate to new states or change employers for better earnings potential or career opportunities. MBA has continuously called for consistent national standards for all lenders regardless of business model, and this legislation will help promote that goal. We are grateful the bill also addresses the important consumer protection concerns of state regulators. MBA now urges the Senate to consider this bill expeditiously. We look forward to continuing to work with policymakers and other key stakeholders to ensure a robust, sustainable and competitive residential mortgage marketplace.”

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