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MBA Statement on Financial Services Committee Passage of Mortgage-Related Bills

WASHINGTON, D.C. (December 14, 2017) – (RealEstateRama) — MBA President and CEO David H. Stevens, CMB, released the following statement regarding the final passage by the House Financial Services Committee of H.R. 2948, The SAFE Transitional Licensing Act; H.R. 4545, The Financial Institutions Examination Fairness and Reform Act; and H.R. 4560, The GSE Jumpstart Reauthorization Act of 2017.

“I want to congratulate Chairman Jeb Hensarling (R-TX), and a broad bipartisan coalition of other committee members for advancing important legislation these past two days. In particular, we enthusiastically supported The SAFE Transitional Act which supports job mobility among mortgage loan originators, as well as The Financial Institutions Examination Fairness and Reform Act, which addresses a number of exam-related concerns – for both banks and non-banks.

Finally, MBA supports the broad intent of The GSE Jumpstart Reauthorization Act of 2017, most notably an extension on the limitation of preferred GSE shares and certainty regarding the regular payment of dividends by the agencies under the terms of the Senior Preferred Stock Purchase Agreements. We continue to look forward to ongoing conversations regarding broader secondary mortgage market reforms, including housing affordability and meeting the needs of underserved borrowers and communities. MBA will continue to work with members of Congress on these and other important issues facing our industry and its customers.”

Rob Van Raaphorst

(202) 557- 2799