Foreclosure Fast-Track Bill for
Vacant and Abandoned Properties
Passes the Ohio House
A bill to fast-track foreclosures for vacant and abandoned properties passed the Ohio House of Representatives on November 17th. House Bill 134 passed by a vote of 88-0. In addition to the fast-track, the bill provides for some needed improvements in the general sheriff sale process. Thanks to all of you that attended “Inform the Capitol”, our annual lobby day, at which we worked hard for the passage of the bill. The Senate version of the bill is in the works and soon to be introduced.
Ohio Department of Commerce
The Ohio Department of Commerce, Division of Financial Institutions has announced that the Notice of Escrow and Taxes and Regular Monthly Payment Form is no longer required for applications taken on or after October 3,2015. To view the complete announcement, click on the following link: DFI announcement
Stop the Tax on Homeownership!
Thank you for your strong, determined outreach to members of Congress, in an effort to stop a 10 basis point increase in the GSE GFee, to fund the Transportation Bill. The provision is out of the House bill, but has not yet been removed from the Senate bill. The MBA has been working with the Senate, in an effort to offer an alternative funding method.
We need to continue making clear two key points to our members of the US Senate:
- 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 in April. At this point, it appears that the bill may be on the calendar in December for markup before going to a committee vote in the House. On the Senate side, the legislation passed out of committee and still has to go to a floor vote.
2015 Convention Diamond Sponsors
2015 Convention Gold Sponsors