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.”

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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