Stop the Tax on Homeownership!
Thank you for your strong, determined outreach to your United States Senators. Late in to the evening of July 22, 2015, by a vote of 62-36, the transportation bill cleared its first Senate procedural hurdle – still containing a Fannie Mae and Freddie Mac guarantee fee (G-fee) increase to help pay for provisions unrelated to housing. The bill – and possible amendments – will now continue to be considered, and we urge you to keep reaching out to your Senators by phone or through the Mortgage Action Alliance’s Call to Action.
We need to continue making clear two key points:
- Using G-Fees to pay for other budget efforts, like in this transportation bill (HR 22), is nothing more than a tax on homeownership and is unacceptable.
- Your Senators should vote “No” on any bill that includes an increase in G-Fees paid by homeowners.
Keep the pressure on. Please let me know if you have any questions.
Transitional Licensing Bill
On May 29th, led by Representative Steve Stivers (R-OH), a group of bipartisan House members introduced legislation to amend the SAFE Mortgage Licensing Act to provide a temporary license for mortgage loan originators, transitioning between federally-insured depositories and non-depositories, as well as across state lines under the state licensing system. Representatives Terri Sewell (D-AL), Lynn Westmoreland (R-GA), Joyce Beatty (D-OH), Luke Messer (R-IN), Kyrsten Sinema (D-AZ) ), and Ed Perlmutter (D-CO) joined the bill as original cosponsors. The bill’s introduction comes on the heels of tremendous advocacy conducted by MBA members during MBA’s National Advocacy Conference last month. MBA and members of the Mortgage Action Alliance will be working with congressional leadership and other key stakeholders to garner additional support in order to advance the legislation in the coming months. For more information, please contact Len Wolfson, (202) 557-2712 or Kelley Williams, (202) 557-2714, at the MBA.
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