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Home > Advocacy > Mortgage Action Alliance
JOIN THE MORTGAGE ACTION ALLIANCE
The Mortgage Action Alliance (MAA) is a nationwide grassroots lobbying network of real estate finance industry professionals dedicated to strengthening the industry's voice and lobbying power in Washington, DC and state capitals across America. If you want 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, please sign up by clicking here. It only takes a moment.
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The election of a new Administration and larger majorities in both houses of Congress present a unique opportunity to get involved and take action in the political process. So that's why MAA is in the middle of an exciting new Tell Your Colleague campaign to help gear up for 2009. If you have a little free time going into the holiday season, why not encourage your industry colleagues to join up with the Mortgage Action Alliance? It's FREE, EASY, and ENTIRELY VOLUNTARY. And, it only takes a few moments if you click here . Once you sign up, from time to time in the months ahead, you may be asked to help by voluntarily participating in an e-mail campaign to support the industry position on proposed legislation. MAA staff does most of the work for you, so it literally only takes a couple of mouse clicks to participate at critical moments.
Please join MAA, and if you're already a MAA member please encourage others in the industry to get involved as well. It's the simplest way to stay involved and at the same time help the industry continue to succeed. And remember, you don't have to be an MBA member to join, and no dues are required. Now, more than ever, the industry needs to speak with a strong voice of leadership.
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While Congress was out of session this week, the Bush Administration was busy addressing the challenges facing the housing industry and capital markets. On Tuesday, Treasury Secretary Paulson announced that the TARP funds would not be used to purchase illiquid assets on bank balance sheets as originally planned, but rather, the remaining funds will be spent on stabilizing the financial system, supporting markets for securitizing credit and reducing incidences of foreclosures. Today, FDIC began promoting a program to encourage systematic loan modifications that would offer servicers financial incentives for each completed loan modification. On Wednesday, HUD came out with finalized Real Estate Settlement Procedures Act rules. While MBA supports enhanced consumer protections, we are disappointed that the rule was not coordinated with the Federal Reserve’s efforts to improve regulations under the Truth in Lending Act.
Next week, Congress will return for the lame duck session, where we expect to see a push for a $25 billion bill to rescue the auto industry. There are concerns that bankruptcy reform could be joined to that effort. MBA Chairman David Kittle will testify next Wednesday at a Senate Judiciary Committee hearing on bankruptcy. MBA continues to oppose proposals to allow bankruptcy judges to cram down residential mortgage debt.
- MBA Releases Interim Summary of Final RESPA Rules
- HOPE NOW Announces Streamlined Modification Program; Writes to Congress
- MBA Urges Passage of Second Economic Stimulus Act
- MBA Submits Comment Letter to SEC on Fair Value Study
- MBA Maintains EESA, HERA and Conservatorship Resource Centers
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