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Call to Action: Tell Your Senators to Advance the Debate and Vote for Regulatory Relief!

03/05/2018 9:39 AM | Anonymous
     
 

Dear MAA Member:

The Senate is scheduled to vote on the procedural motion to begin debate on a broad bipartisan regulatory relief package this week. The bill, The Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155) contains several MBA-supported priorities including: SAFE Act Amendments to create a transitional authority to originate loans (similar to language that passed the House in February as part of H.R. 3978, as amended), consumer protections for Property Assessed Clean Lending (PACE) loans, relief from HMDA reporting requirements for some institutions, as well as an important fix to TRID. 

Senate Banking Committee Chairman Mike Crapo (R-ID) introduced this bipartisan legislation last November, and the bill was reported favorably from the full committee in early December 2017.  MAA members collectively contacted 96 Senate offices in support of the legislation, helping to add to the growing list of 25 co-sponsors, including 12 Republicans, 12 Democrats, and 1 Independent.

Advocacy from our industry has kept these priorities front and center, and we need your help to ensure this legislation has the support necessary for full Senate passage. Sixty votes are needed to “invoke cloture” and allow debate on the underlying bill to begin. MBA continues to pursue the addition of other favorable provisions to the bill within a “Manager’s Amendment” to S. 2155 that will be revealed at some point this week as well.  

Contact your Senators today and urge them to vote to begin debate on – and then vote for final passage of – S. 2155. 

If you encounter any issues, please contact Peter Shapiro at 202-557-2933 or pshapiro@mba.org. If you did not receive this Call to Action from maa@mba.org you may not have an active MAA membership. Please click here to sign up for MAA. 

 

 By responding to a Call to Action alert from MAA, opening an email from MAA, registering for an MBA conference or contributing to MBA’s political action committee (MORPAC), you are agreeing to renew your membership in MAA for one year (365 days) from the date of your action. Please note that you may terminate your membership at any time by emailing maa@mba.org. There are no membership dues.

 
 


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VERMONT MORTGAGE BANKERS ASSOCIATION

Executive Director
Joshua Wolfe

+1 866-680-8622

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P.O. Box 7855
Portland, ME  04112-7855



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