Mortgage Action Alliance

Established in 2005, the Mortgage Action Alliance is the premier nationwide, grassroots lobbying organization of the real estate finance industry. The mission of the Mortgage Action Alliance is to further build a network of individuals dedicated to strengthening the industry's voice and lobbying power in Washington, DC and state capitals.

The Mortgage Action Alliance consists of professionals willing to play an active role in how laws and regulations that affect the industry and consumers are created and carried out by lobbying and building relationships with policymakers.

The Alliance:

• Keeps you informed of the latest industry related legislation and regulations
• Gives you the tools to quickly and easily communicate with your legislators on important issues before and after critical votes
• Helps you build working relationships with elected officials
• Works with local and state associations to influence state policies and regulations
• Connects you to a nationwide network of industry professionals who share your concerns and priorities

Membership Requirements :

If you are an employee of a company that is engaged in, or supports the business of, real estate finance you may become a Mortgage Action Alliance member by registering online. You will be required to re-register your membership annually to retain full member privileges. (We will notify you to renew your membership prior to its lapse.) By becoming a member, you consent to receive e-mails and other communications concerning the Alliance's advocacy issues. No dues are required.

To become a member of the Mortgage Action Alliance, simply click HERE or contact the Director, Paul Hilliar at (202) 557-2858.

Write Your Legislators on These Key Alliance Issues

Use the Alliance's online letter generating software that lets you easily communicate to Members of Congress via email. Simply enter your contact information including home address and we'll match you up with your legislators. Your information will be kept confidential. To get started, please click here.

Oppose Efforts to Reduce or Eliminate the Mortgage Interest Deduction

Support Increasing the National Flood Insurance Program's Borrowing Authority

Support H.R. 1295, the Responsible Lending Act, which would create a uniform national standard to combat predatory lending

Support S. 190 Government Sponsored Entities (GSEs) Reform Legislation

Alliance: Benefits and Services

By joining the program, you receive these benefits and services:

Alliance Action Alerts and Web-Based Tools for Communicating with Legislators

Action Alert e-mails notify you prior to key legislative votes and of recently introduced industry-related legislation. You can then contact Members of Congress through the alliance's on-line letter generating software. This tool allows you to read over talking points on a specific bill and with a click of a mouse, and instantly send electronic letters to lawmakers expressing your concerns and interests.

Mortgage Action Alliance Newsletter

Weekly updates via e-mail on MBA's political activities and Congressional/state and regulatory action on key industry issues.

Monthly Economic Commentary

These updates, created by MBA's Economists, will keep you abreast of the latest news and issues affecting the industry.

Up to the Minute E-mail Notifications on Your Areas of Concern

E-mail notifications on issues important to you and your company whenever MBA testifies or submits testimony, or sends letters to Members of Congress on your issues. This is a great way to know how MBA supports your priorities.

Priority Invitation to Legislator Meetings

Priority invitations to attend legislative meetings with key Members of Congress. These meetings allow you to meet legislators face-to-face so that you can advance your and the industry's legislative priorities while building working relationships with your Members of Congress.

Assistance in Organizing Legislator Tours

A legislator tour of your company is one of the most effective ways to build a relationship with Members of Congress and educate them on how the industry works. As an Alliance member, MBA will assist in arranging for a potential tour of your company.

Access to MBA's Congressional Election Web Site

The web site, which is active during election years, allows you to register to vote and see which candidates are running for local, state and federal offices in addition to accessing candidates' web sites to obtain their positions on issues important to you.

Participate in the Governance of the Alliance

The Alliance is managed and governed by a Steering Committee and members have the opportunity to sit on the Steering Committee and elect individuals for three At-Large positions on the committee

Alliance: Steering Committee

The Mortgage Action Alliance is governed by a nine member Steering Committee. It is responsible for assisting in the formulation, implementation and execution of the Alliance's grassroots activities in furtherance of MBA's advocacy agenda.

The Steering Committee consists of a Chairman, 2 Vice-Chairman, one representative each from MBA's Residential Board of Governors and Commercial/Multifamily Board of Governors and one representative from MBA's State and Local Advisory Council. Finally, the Steering Committee has three at-large members. If you are interested in participating on the Steering Committee as an at-large member, please contact Mortgage Action Alliance Director Paul Hilliar at philliar@mortgagebankers.org.

The Steering Committee officially meets twice a year during MBA's Annual Convention and the National Policy Conference.

The 2005-2006 Steering Committee members include:

Chairman: Robert E. Story, Jr., CMB

Executive Vice President & Chief Operating Officer

Seattle Financial Group

Vice-Chairman: Samuel B. Morelli, CMB

President & Chief Operating Officer
Sunset Mortgage Company, L.P.

Vice-Chairman: Douglas I. McCree, CMB

President & Chief Executive Officer

First Housing

RESBOG Representative: Marianne McCarty Collins

COMBOG Representative: Michael F. Petrie, CMB

President

P/R Mortgage & Investment Corporation

State and Local Advisory Council Representative: Murray Brown

Counsel

Karoub Associates

At Large Alliance: Get Involved

If you are an employee of a company that is engaged in, or supports the business of, real estate finance you may become a Mortgage Action Alliance member by registering online. You will be required to re-register your membership annually to retain full member privileges. (We will notify you to renew your membership prior to its lapse.) By becoming a member, you consent to receive e-mails and other communications concerning the Alliance's advocacy issues. No dues are required.

There are many ways to get involved in the organization :

Alliance Membership

As an Alliance member, we encourage you to write, call, email and meet with your Member of Congress both here in Washington, DC and in their district and state offices on issues of concern to you. We can assist you in setting up meetings and provide you with information to be an effective advocate.

Recruit New MAA Members

As an Alliance member, we urge you to recruit your friends and colleagues and ask them to join the Alliance. We want to continue to grow the program to be an even more effective lobbying force in Washington, DC and state capitals.

Volunteer to be an Alliance Go-To Coordinator

A Go-To Coordinator is a Mortgage Action Alliance member who volunteers their time to serve as a liaison and key point person with a Member of Congress. Go-To Coordinators are counted on to build and maintain a working relationship with a legislator, volunteer to be a group leader for district and state lobbying meetings, recruit new Mortgage Action Alliance members and work closely with MBA's political action committee, MORPAC. If you would like more information about becoming a Mortgage Action Alliance Go-To Coordinator, please contact Paul Hilliar, at (202) 557-2858.

Attend the National Policy Conference

Every year, Alliance members meet in Washington, DC for the Alliance's premier legislative conference. This two day event, which will take place on April 26 and 27, 2006, brings together hundreds of real estate finance industry professionals to hear from key policy makers and lobby Members of Congress on legislation important to the industry. This is your chance to join your colleagues from your state and lobby your Members of Congress.

Alliance: Legislative and Regulatory Issues and Update

Advocacy Issues for 2005

During the 109th Congress the Action Alliance and MBA's government affairs staff will focus on:

• GSE oversight reform;
• Reauthorization of the Terrorism Risk Insurance Act;
• Enactment of a uniform national standard to combat abusive-lending;
• FHA modernization; and
• Tax reform issues such as REMICs and protection of the mortgage interest deduction.
• RESPA reform

Click here to find detailed analysis on each of these issues.

Click here to view MBA's 2004 legislative and regulatory progress report.

Legislative and Regulatory Update:

Flood Insurance

• On November 22, President Bush signed legislation to boost the federal flood insurance program's borrowing authority to $18.5 billion. The National Flood Insurance Program announced on November 14 that it had run out of funds to pay claims. The Federal Emergency Management Agency, which administers the program, indicated that the additional borrowing authority should last through January 1, 2006.

Terrorism Risk Insurance

• During the week of November 14, both the House and Senate made steps toward extending the Terrorism Risk Insurance Act (TRIA), which is set to expire on December 31. The Senate has passed S. 467, the Terrorism Risk Insurance Extension Act of 2005. During the week, the House Financial Services Committee passed H.R. 4314, the Terrorism Risk Insurance Revision Act of 2005, by a vote of 64-3.

Both bills would raise the deductibles on all lines of insurance from their current level of 15 percent, increase the co-shares for smaller events while decreasing them for more significant events, increase the amount of insured losses that would trigger the federal backstop, and build up long-term capital to stabilize the marketplace by allowing insurers to treat a portion of their terrorism premiums as dedicated terrorism capital.

While the Senate passed legislation, the House will not act until after its upcoming Thanksgiving recess. Congress will then work to reconcile the differences in the House and Senate bills in an effort to send final legislation to the President before expiration of the existing program on December 31.

GSE Reform

• During the week of November 7, Senators Robert Bennett (R-UT) and Charles Schumer (D-NY), both members of the Senate Banking Committee, commented that the Senate will likely adjourn for 2005 without voting on legislation to reform oversight of the GSEs. It appears unlikely that Democrats and Republicans will be able to reach a consensus on the bill's more controversial provisions, such as portfolio caps, before the Senate recesses for the year.

GSE oversight reform remains a priority for Banking Committee Chairman Shelby (R-AL). Unless a compromise is reached prior to adjournment, negotiations will continue when the Senate returns to session in February.

• On October 27, the House of Representatives passed MBA-backed GSE oversight reform legislation, H.R. 1461, by a vote of 331-90. The bill includes MBA-supported "bright line" language. MBA has long supported the creation of a strong and effective regulator for the GSEs and believes that H.R. 1461 will improve the GSEs' ability to fulfill their important role of supporting the secondary residential mortgage market, while improving the availability of financing for affordable housing.

• The House Financial Services Committee passed a GSE-reform bill in May and the Senate Banking Committee passed a significantly different reform bill in July. Despite their differences, both bills contain a number of MBA-supported provisions. Both are aimed at improving GSE safety and soundness regulation and both would improve the regulator's ability to ensure the GSEs' charter compliance. The bills represent a major step toward GSE oversight reform but their fate remains unclear.

Mortgage Interest Deduction

• On November 1, the President's Bipartisan Advisory Panel on Tax Reform released its long anticipated report to reform the nation's tax code. The Panel suggests converting the current mortgage interest deduction to a Home Credit equal to 15 percent of mortgage interest paid up to a cap, which the Panel recommends lowering from the current $1 million to a limit based on average area home prices as determined by the Federal Housing Administration. The Panel also recommends eliminating the deduction for interest on mortgages on second homes and interest on home equity loans.

For the last several weeks, MBA has been working to prevent this plan from gaining support among policymakers. On Novemeber 2, MBA launched a Call to Action urging members to write their legislators in opposition to the Panel's proposals. MBA participated in a conference call with Treasury Secretary John Snow, who informed participants that Treasury will consider the Panel's recommendations carefully before making a final recommendation to the President and that the Department looks forward to hearing comments from stakeholders such as MBA. MBA is currently working with our industry and trade association partners to forge a broad coalition in opposition to this proposal, and has begun work with Members of Congress and other policymakers to ensure that the arguments against lowering the cap on mortgage interest deduction are heard clearly both on Capitol Hill and at the Treasury Department.

Other Tax Issues

• On October 6, MBA sent a letter to U.S. Senate Finance Committee Chairman Charles Grassley and Ranking Member Max Baucus that recommended specific tax policy changes to aid in the rebuilding of homes and businesses in the Gulf Region affected by hurricanes Katrina and Rita.

• In mid-March, Senators Kent Conrad (D-ND) and Jon Kyl (R-AZ) introduced MBA-backed legislation, S. 621, which would permanently extend the 15-year recovery period for the depreciation of leasehold improvements. The 15-year period was due to expire at the end of 2005.

Predatory Lending and Licensing

• On September 29, Teresa Bryce, senior vice president for Nexstar Financial Corporation and co-chair of the Mortgage Bankers Association's (MBA) State Licensing Task Force testified before the House Financial Services Subcommittee on Housing and Community Opportunity on Title V of H.R. 1295, The Responsible Lending Act of 2005. For more information, please click here.

• In mid-March, Reps. Bob Ney (R-OH) and Paul Kanjorski (D-PA) introduced H.R. 1295, “The Responsible Lending Act of 2005,” which would establish a uniform national standard to eliminate abusive lending practices.

FHA and Zero Downpayment

• In June, Reps. Michael Fitzpatrick (R-PA) and Jim Matheson (D-UT) introduced H.R. 2892, a bill that would eliminate the cap on FHA's Home Equity Conversion Mortgage (HECM) program. Also in June, Reps. Patrick Tiberi (R-OH) and David Scott (D-GA) introduced H.R. 3043, the “Zero Downpayment Pilot Program Act of 2005.”

Other Issues

• In July, President Bush signed into law the “Junk Fax Prevention Act of 2005,” which restores the "established business relationship" exception to the ban on unsolicited commercial faxes.

• In April, President Bush signed S. 256, an MBA-supported bankruptcy reform bill, which removes the $4 million cap on single asset bankruptcies, a long-standing MBA priority.

• In mid-June, Senator Larry Craig (R-ID) introduced S. 1235, which would authorize the VA Secretary to determine the annual interest rate cap adjustment for VA Hybrid ARM products. This change will enable VA Hybrid ARMs to be put in Ginnie Mae pools on an equal basis with FHA ARMs. On Thursday, July 28th, the Senate Veterans Affairs Committee reported out S. 1235. Senate floor action is expected after the Congressional August recess.

Source from www.mortgagebankers.org