Mortgage Action Alliance - MAA

12/23/2020

mba-advocacy.informz.net

Late Monday evening, Congress approved the Consolidated Appropriations Act, 2021, which funds the government through the 2021 fiscal year and includes an additional $900 billion towards coronavirus relief. MBA President and CEO, Bob Broeksmit, CMB, released a statement commending Congress for finalizing the spending package. As you may have seen in the press, President Trump has indicated reservations with certain provisions of the bill and may refuse to sign it into law, absent certain revisions. In spite of this uncertainty, we still wanted to highlight the key industry priorities that we successfully advocated for inclusion in the final package.
To view the full statement, click the link below.
https://lnkd.in/eDyQ9Ci

12/16/2020

Mortgage Bankers Association on LinkedIn: Mortgage Action Alliance Reaches Milestone of 70,000+ Members

ICYMI - MAA has reached 70,000 members! Thank you to our industry advocates for helping us achieve this record-setting milestone! #mortgageactionalliance

https://lnkd.in/etMmzg2

Mortgage Action Alliance (MAA) Reaches Milestone of 70,000+ Members #MortgageActionAlliance...

09/16/2020

Welcome! You are invited to join a webinar: MAA Towhall. After registering, you will receive a confirmation email about joining the webinar.

MAA Members,

Please RSVP to join us for two special and free events during MBA Advocacy Week:

What: MAA Townhall
When: Wednesday, September 23, 3:30 PM ET
RSVP: https://lnkd.in/eex7HaH

Join us for a MAA Townhall with Representative Pete Aguilar (D-CA), a senior member of the House Appropriations Committee, which authorizes the funding for the U.S. Department of Housing and Urban Development (HUD), as well as MBA Leadership, including CEO Bob Broeksmit, CMB. The event will highlight our advocacy efforts behind key issues, a mortgage market update, potential policy impacts of the 2020 elections, and how MBA Advocacy helps position us in key conversations surrounding urgent issues impacting the industry.

What: MBA Advocacy Lunch & Learn
When: Monday, September 21, 1:00 PM ET
RSVP: https://lnkd.in/evgh58d

Join us to hear a key issues update from MBA Lobbyists and learn about the vital role you can play as an industry advocate helping to promote and advance key industry issues in Congress, with federal regulators and state leaders.

Welcome! You are invited to join a webinar: MAA Towhall. After registering, you will receive a confirmation email about joining the webinar.

09/03/2020

Tell Congress: Provide Rental Assistance to Support Eviction Moratorium Order

Tell Congress: Provide Rental Assistance to Support Eviction Moratorium Order!

As a member of #MortgageActionAlliance, we need you to contact your US Senators and Representative to urge them to quickly pass legislation that would provide direct financial support and emergency rental assistance for tenants in need.

https://www.mba.org/get-involved/take-action?vvsrc=%2fCampaigns%2f77016%2fRespond
http://www.votervoice.net/Shares/BQYYgA-2ACYzSA2A14W7FAA

Dear MAA members, On Tuesday, September 1, the White House announced a Centers for Disease Control and Prevention (CDC) Agency Order temporarily halting residential evictions through December 31, 2020. While we can appreciate that this action helps...

09/01/2020

MBA News (9.1.20) MBA Statement in Response to the HHS and CDC Agency Order on a Residential Eviction Moratorium Through December 31, 2020

ICYMI: MBA Statement in Response to the HHS and CDC Agency Order on a Residential Eviction Moratorium Through December 31, 2020

MBA Statement by President and CEO Bob Broeksmit, CMB, regarding today’s Agency Order by the Health and Human Services (HHS) and the U.S. Centers for Disease Control and Prevention (CDC) to temporarily halt residential evictions through December 31, 2020:

“MBA appreciates the intent of today’s executive order to ensure that renter households facing financial hardship from the ongoing COVID-19 pandemic can stay in their homes. Protecting families experiencing or soon to be threatened with severe housing instability is a must during these challenging times."

For the full statement, click the link below.
https://lnkd.in/ex6R_pJ

WASHINGTON, D.C. (September 1, 2020) — MBA Statement by President and CEO Bob Broeksmit, CMB, regarding today’s Agency Order by the Health and Human Services (HHS) and the U.S. Centers for Disease Control and Prevention (CDC) to temporarily halt residential evictions through December 31, 2020:...

08/26/2020

MBA News (8.26.20) MBA Statement on FHFA Extending Pandemic-Related Programs

ICYMI: MBA's President and CEO Bob Broeksmit, CMB, issued the following statement on the announcement by the Federal Housing Finance Agency (FHFA) extending, through September 30, 2020, Fannie Mae and Freddie Mac's loan origination flexibilities, as well as the entities' programs to buy loans in forbearance:

“MBA and its members appreciate FHFA and the GSEs extending these important features. Both the origination flexibilities and the program to purchase loans in forbearance are providing important stability to the mortgage market during the pandemic, and today’s announcement will enable lenders to continue to make low rate mortgage financing readily available to consumers and avoid the inevitable credit tightening that would have resulted from their expiration.”

For the full statement, click the link below.
https://lnkd.in/eSaYf7a

WASHINGTON, D.C. (August 26, 2020) — MBA's President and CEO Bob Broeksmit, CMB, issued the following statement on the announcement by the Federal Housing Finance Agency (FHFA) extending, through September 30, 2020, Fannie Mae and Freddie Mac's loan origination flexibilities, as well as the enti...

08/25/2020

MBA News (8.25.20) MBA Statement in Response to Changes in GSE Adverse Market Refinance Fee

ICYMI: MBA President and CEO Robert D. Broeksmit, CMB, released the following statement regarding changes to the GSEs’ adverse market refinance fee.

“We welcome today’s announcement from the FHFA amending the recently announced Adverse Market Refinance Fee from Fannie Mae and Freddie Mac. Extending the effective date will permit lenders to close refinance loans that are in their pipelines and honor the rate lock commitments they made to their borrowers, ensuring that economic relief in the form of record low interest rates will continue to flow to consumers."

For the full statement, click the link below. Thank you to all MAA members who answered the call to action!

https://lnkd.in/eicQhcR

WASHINGTON, D.C. (August 25, 2020) — MBA Statement by President and CEO Bob Broeksmit, CMB, regarding changes to the GSEs’ adverse market refinance fee:

08/13/2020

Tell Congress: Urge FHFA and the GSEs to Withdraw Adverse Market Refinance Fee

#MortgageActionAlliance Call to Action! Tell Congress: Urge FHFA and the GSEs to Withdraw Adverse Market Refinance Fee

By now, you have read the just-released lender letters from Fannie Mae and Freddie Mac. For the past 48 hours, MBA has been working to understand and block the anticipated imposition of a 50-basis point adverse market fee on refinance loans purchased by the GSEs.
This directive flies in the face of the Administration’s recent executive actions urging federal agencies to take all measures within their authorities to support struggling homeowners. Requiring Fannie Mae and Freddie Mac to charge a 0.5% fee on refinance mortgages they purchase will raise interest rates on families trying to make ends meet in these challenging times. This means the average consumer will be paying $1,400 more than they otherwise would have paid. Even worse, the September 1 effective date means that thousands of borrowers who did not lock in their rates could face unanticipated cost increases just days from closing.
Click below to contact your Senators and Representative and urge them to contact FHFA Director Calabria and the CEOs of the GSEs and insist that they immediately withdraw this deeply misguided directive.
https://lnkd.in/dQXNpWf

Dear MAA members, By now, you have read the just-released lender letters from Fannie Mae and Freddie Mac. For the past 48 hours, MBA has been working to understand and block the anticipated imposition of a 50-basis point adverse market fee on...

08/13/2020

MBA News (8.12.20) MBA Statement on the GSEs’ Adverse Market Refinance Fee

ICYMI: MBA President and CEO Robert D. Broeksmit, CMB, released the following statement regarding the GSEs’ new adverse market refinance fee.

“Tonight’s announcement by the GSEs flies in the face of the Administration’s recent executive actions urging federal agencies to take all measures within their authorities to support struggling homeowners. Requiring Fannie Mae and Freddie Mac to charge a 0.5% fee on refinance mortgages they purchase will raise interest rates on families trying to make ends meet in these challenging times…We strongly urge FHFA, which had to approve this policy, to withdraw this ill-timed, misguided directive.”

For the full statement, click the link below.

https://mba-pa.informz.net/informzdataservice/onlineversion/ind/bWFpbGluZ2luc3RhbmNlaWQ9ODA0NTIxNyZzdWJzY3JpYmVyaWQ9OTEyMDYwMDc4

WASHINGTON, D.C. (August 12, 2020) — MBA Statement by President and CEO Bob Broeksmit, CMB, regarding the GSEs’ new adverse market refinance fee:

07/08/2020

Waterstone Mortgage Corporation

What a wonderful way to marry two important advocacy programs that directly benefit the industry AND the consumers we serve.

Last month we encouraged our employees to get involved in Mortgage Action Alliance - MAA (to help push positive change in the mortgage industry during COVID-19) and we promised we would donate $10 to the MBA Opens Doors Foundation for everyone who participated. We are so excited to share 300 WMC employees answered the call and we are proud to donate $3,000 to the foundation. This foundation helps provide financial assistance to families with critically ill or injured children so they can stay in their homes while their children receive treatment. Take a look at their website to learn a little bit more about the outstanding work they do. https://www.mbaopensdoors.org/

06/17/2020

Tell the CA Assembly: Vote

#mortgageactionalliance members, your action is urgently needed to defeat AB 2501 in California!

The bill was considered on the Assembly floor on Monday, and the sponsor could NOT muster the votes to pass it. The “vote” is being held open through Thursday.

Thousands of MAA members have contacted every single office of the CA Assembly on this important issue and our collective advocacy efforts are having a direct impact on this process.

Help us keep up the pressure and defeat the bill! Please forward this call to action to all of your California-based colleagues and peers and encourage them to make their voices heard NOW!

https://action.mba.org/mba/app/write-a-letter?1&engagementId=508073

Tell the CA Assembly: Vote "NO" on AB 2501 **UPDATE! YOUR ACTION IS URGENTLY NEEDED** MAA Members in California, Your urgent action is needed to contact your Assembly member to vote “NO” on AB 2501 when it is reconsidered for a full vote on Thursday. Yesterday, the legislation was considered on ...

06/11/2020

mba-advocacy.informz.net

#throwbackthursday to our #monthofMAA campaign highlights! Thanks to all who participated and ICYMI, here is the recap we sent to over 48,000 #mortgageactionalliance members last week: https://mba-advocacy.informz.net/informzdataservice/onlineversion/ind/bWFpbGluZ2luc3RhbmNlaWQ9Nzk2MDg1MSZzdWJzY3JpYmVyaWQ9ODk3Mjg4MjU4

06/11/2020

Mortgage Action Alliance - MAA's cover photo

06/05/2020

Tell Your CA State Senators – Oppose SB 939!

#MortgageActionAlliance members, Your action is urgently needed to defeat SB 939 in California!

Please forward this call to action to all of your California-based colleagues and peers and encourage them to make their voice heard NOW!

https://action.mba.org/mba/app/write-a-letter?2&engagementId=508238

Tell Your CA State Senators – Oppose SB 939! ***UPDATE!  YOUR ACTION IS URGENTLY NEEDED*** The industry coalition opposing SB 939 has reached out to the bill's author to discuss amendments to make the bill less onerous.  However, it is our understanding that the author is NOT considering our ame...

05/28/2020

FHFA’s Capital Rule and How it Fits into Housing Finance Reform

ICYMI: MBA President and CEO Bob Broeksmit's latest blog-FHFA's Capital Rule and How it Fits into Housing Finance Reform https://2thepoint.blog/2020/05/27/fhfas-capital-rule-and-how-it-fits-into-housing-finance-reform/

Last week, the Federal Housing Finance Agency (FHFA) re-proposed a rule that would establish a new capital framework for Fannie Mae and Freddie Mac (the GSEs), designed to ensure their safety and s…

05/26/2020

MAA Update: MBA Vice-Chair Kristy Fercho Participates in House Financial Services Committee Virtual Roundtable Briefing

ICYMI: On Friday afternoon, the Housing, Community Development, and Insurance Subcommittee of the House Financial Services Committee held a bipartisan, virtual roundtable briefing on the COVID-19 pandemic’s broad impact on housing. MBA Vice-Chair Kristy Fercho, President of Mortgage for Flagstar Bank, appeared before the subcommittee, along with representatives from the Brookings Institution and the National Low Income Housing Coalition.

Issues discussed included the need for expanded and extended homeowner forbearance and eviction moratoria, mortgage servicer liquidity, additional direct rental and housing-related relief, and commercial MBS market conditions. Click below for more information, including a video of the full virtual briefing and an MBA NewsLink story regarding the roundtable.

https://mba-advocacy.informz.net/informzdataservice/onlineversion/ind/bWFpbGluZ2luc3RhbmNlaWQ9Nzk0NTMwNCZzdWJzY3JpYmVyaWQ9ODk3Mjg4MjU4

On Friday afternoon, the Housing, Community Development, and Insurance Subcommittee of the House Financial Services Committee held a bipartisan, virtual roundtable briefing on the COVID-19 pandemic’s broad impact on housing. MBA Vice-Chair Kristy Fercho, President of Mortgage for Flagstar Bank, a...

05/21/2020

Mortgage Action Alliance - MAA's cover photo

05/21/2020

Tell Your Representative: Require the GSEs and FHA to Purchase and Insure Loans in Early Forbearance

#mortgageactionalliance call to action: Tell Your US Rep: Require the GSEs and FHA to Purchase and Insure Loans in Early Forbearance

To help mitigate early payment forbearance issues, Representative Juan Vargas (D-CA), has introduced The Promoting Access to Credit for Homebuyers Act (H.R. 6794), which has also been co-sponsored by House Financial Services Committee Chair Maxine Waters (D-CA). The bill would promote access to credit for homebuyers during the COVID-19 pandemic by preventing the GSEs and FHA from imposing additional restrictions or costs on borrowers who have inquired about, requested, or received forbearance.

Take action today and urge your Representative to co-sponsor H.R. 6794!

https://action.mba.org/mba/app/write-a-letter?6&engagementId=508125

Tell Your Representative: Require the GSEs and FHA to Purchase and Insure Loans in Early Forbearance Since the passage of the CARES Act, some borrowers with recently-closed loans have requested forbearance, and others are expected to do so in the near future. The existing policies at both the GSEs a...

05/16/2020

MBA News (5.15.20) MBA Statement on the House Passage of the HEROES Act

ICYMI: MBA President and CEO Bob Broeksmit, CMB, released the following statement regarding the House passage of the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act:

“MBA acknowledges the House passage of the HEROES Act, particularly Division K of the bill that contains several key provisions impacting homeowners and renters across our nation. We are grateful that the bill would direct the Federal Reserve credit facility authority enacted under the CARES Act to be utilized, as needed, by mortgage servicers and residential rental property owners…”

For the full statement, click the link below. We will continue to call on #mortgageactionalliance members to help amplify our communications to Congress and the Administration and to provide important updates to MAA members over email.

https://mba-pa.informz.net/informzdataservice/onlineversion/ind/bWFpbGluZ2luc3RhbmNlaWQ9NzkzNDE0NSZzdWJzY3JpYmVyaWQ9OTEyMDYwMDc4

WASHINGTON, D.C. (May 15, 2020) — MBA President and CEO Bob Broeksmit, CMB, released the following statement regarding the House passage of the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act: “MBA acknowledges the House passage of the HEROES Act, particularly Division K o...

05/08/2020

Mortgage Bankers Association

ICYMI: Check out #mortgageactionalliance Chair Jeff Taylor's special MAA announcement about the #monthofmaa! Help us keep up the #MAAmentum all month long!

Mortgage Action Alliance - MAA Chairman and Mphasis Digital Risk Founder, Jeff Taylor has an announcement! Not only did we hit a #MAAActionWeek milestone of 43,000+ #MortgageActionAlliance members, but we are taking it up a notch and making the month of May the #MonthofMAA! Join us in keeping the “MAAmentum.” Take action and join MAA today: https://bit.ly/2Wu7gY7.