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Here we will share articles of interest. All members are encouraged to post their own articles, share and comment on others.

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  • August 08, 2017 8:29 AM | Anonymous
         
     

    Good Morning:

    Thank you for participating in our Call to Action in support of H.R. 2948, the SAFE Transitional License Act, which would amend the SAFE Mortgage Licensing Act of 2008 to provide a temporary license for loan originators transitioning between federally-insured depositories and non-depositories, as well as across state lines. Your efforts have helped secure 15 additional sponsors from both parties since the bill's introduction. 

    Last Thursday, Senators Dean Heller (R-NV) and Bob Menendez (D-NJ) announced the introduction of S. 1753, the Senate companion bill to H.R. 2948. 

    In order to convince congressional leaders to quickly advance this important proposal through the Senate Banking Committee and to the Senate floor, we must increase bipartisan support for the proposal. 

    You can help NOW by taking action and contacting your Senator to encourage him or her to cosponsor S. 1753! 

    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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    Mortgage Bankers Association
    1919 M Street, NW, 5th Floor
    Washington, DC 20036
    (800) 793-6222

    Informz for iMIS
  • July 25, 2017 8:32 AM | Anonymous
         
     

    Dear MAA Member:

    On May 25th the Federal Housing Finance Agency (FHFA) issued a “request for input” (RFI) to get public views “on issues faced by qualified limited English proficiency (LEP) borrowers to learn more about the procedures and tools that loan originators, servicers, and other parties in the mortgage lending process presently employ to assist LEP borrowers, to identify existing requirements, including laws and regulations that guide practices for interacting with LEP borrowers, and to better understand the challenges in effectively servicing this population.”

    MBA strongly supports efforts to expand homeownership opportunities and looks forward to working with FHFA and others towards that goal. MBA will respond to this RFI to encourage FHFA to provide guidance on how GSE originators and servicers can better serve the LEP population and share best practices from our members who lead in this area.   

    One idea that MBA cannot support is the possibility that FHFA would put a question regarding a borrower’s “preferred language” on the Uniform Residential Loan Application (URLA) that all GSE borrowers or their lender must complete.  A year ago, MBA and other industry groups were able to convince FHFA to focus on developing resources and guidance to assist LEP borrowers before putting this question on the form.  However, it appears that FHFA is contemplating doing so again, despite many issues and potential risks that remain unaddressed.

    We believe that inclusion of such a question would be premature and potentially harmful to a lender or servicer’s relationship with their customer  The borrower might have expectations about service in another language that a lender or servicer cannot provide, or a borrower might erroneously believe the lender intended to discriminate against them or otherwise treat them differently.  Neither outcome is consistent with the type of customer service we know MBA members strive to provide.

    While MBA will be submitting our own response to this RFI, you can help NOW by submitting your own letter and making our collective voice louder. Take action today and let FHFA know that the time is not right to put a question about language preference on the URLA.

    MBA's policy experts have produced sample language that you can use when responding to this RFI. Simply click “Take Action,” select "Language Access" as the topic, fill in the required information, and copy/paste the sample language into the "Comments" box. If possible, personalize your response with your own individual experience and insight to make your letter even more effective. 

    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.

     
     


    If you have difficulties reading this HTML email, please view the online version.

     
    To opt-out of future mailings like this one, click here.
    To manage your MBA email preferences on MyMBA, click here.

    This message is brought to you by the Mortgage Bankers Association (MBA).
    Copyright 2017 Mortgage Bankers Association. All rights reserved.
    Terms of Use | Privacy Statement
    To unsubscribe from all MBA communications, click here.

    Mortgage Bankers Association
    1919 M Street, NW, 5th Floor
    Washington, DC 20036
    (800) 793-6222

    Informz for iMIS
  • December 06, 2016 12:10 PM | Anonymous

    Below is the Lender Notice 2016-15. Should you have any questions, please contact your assigned Homeownership Officer.





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