CFPB TRID Rule Announcement
April 28, 2016 Click here to read CFPB letter
There are two important updates in our efforts to enact H.R. 2121 , the SAFE Transitional Licensing Act:
- Yesterday I distributed the Mortgage Action Alliance’s Call to Action to support this important legislation that would provide transitional licensing authority to originate mortgages for individuals who move from a federally-insured institution to a non-bank lender or from one state to another while they work to meet the SAFE Act’s licensing and testing requirements. If you haven’t already, please distribute this email to your members. You can obtain that message HERE.
- Also, please be advised that there is an active campaign by the National Association of Mortgage Brokers (NAMB) on Capitol Hill and in some states to discredit this bill, which has been developed with the thoughtful input of the Conference of State Bank Supervisors (CSBS), has large bipartisan support on Capitol Hill and was approved unanimously in the House Financial Services Committee. MBA has reviewed NAMB’s claims and vehemently disagrees with them. Please be aware of the NAMB campaign, and please do not forward any message received from NAMB to your members, to your members of Congress or your state legislators or regulator. MBA has prepared the attached piece to refuting NAMB’s false claims. Please feel free to distribute this as appropriate.
We are very pleased to announce an enhanced legislative monitoring system which will allow us to share an interactive and real time electronic summary of the legislation of interest to you.
Go to GBA’s website: http://www.gaffneybennett.com/
Click on green button in the top right corner: “Legislative Tracker Login”
Enter CMBA U/N and PW on login page (contact the CMBA office for password)
Our grid should appear along with some tabs allowing you to filter and search, etc.