Policy Priorities

NAMB’S AGENDA FOR 2023

Visit our newly relaunched website to learn more about NAMB’s Advocacy. Learn about NAMBPAC, which raises money to elect & re-elect candidates who have a clear understanding of the topics at the forefront of the mortgage broker industry. NAMB’s Legislative Action Fund provides much-needed additional financial support. Our Call to Action page allows you to speak up on issues that will impact your career.

Ahead, NAMB’s five policy priorities for 2023:

Prohibit Trigger Leads

NAMB believes that the act of applying for a mortgage should not be made public. NAMB believes contacting consumers during the complex mortgage process could be harmful and confusing and opens the possibility of fraud and unfair and deceptive practices.

Expand Small Creditor Definition Under QM Rule

By treating the small business mortgage broker as a large business, the consumer and, in particular, the lowto moderate-income borrower has fewer options for financing. This definitional error causes unintended consequences for consumers by removing competition.

Protect Homeowners From Catastrophic Flood Losses

NAMB supports a full reauthorization of the National Flood Insurance Program, including provisions that allow for the most affordable rates and effective coverage.

Enhance Benefits for Gold Star Spouses

NAMB supports legislation that would restore non-monetary survivor benefits to the remarried spouses of fallen U.S. service members. This legislation applies to surviving spouses who are eligible for the Gold Star Lapel Button without regard for whether they have remarried.

Protect the Rights of Veterans Utilizing VA Loans

NAMB has discovered that increasingly sellers are being encouraged not to sell to veterans who are utilizing VA mortgage loans because of the enhanced standards these loans contain. NAMB supports a federal investigation into these discriminatory practices. NC

Download the policies document at namb.org/advocacy.

CONTINUED FROM PAGE 4 to remove the guaranty cap on home loans. We have championed other legislative initiatives but the most important one to date is the Gold Star spouses legislative support.

This new legislation, supported by NAMB, will allow Gold Star surviving spouses to be able to maintain their home loan benefits, even if they decide to remarry before age 57. Under current legislation, these surviving spouses would lose their home loan benefits if they were to remarry before that age. In large part due to the extended war time of 30-plus years, the number of surviving spouses has increased dramatically, and especially at young ages. It is unfair that they should lose this benefit if they remarry.

– Jeff Wilson, VA Committee Chair, jeff.wilson@caliberhomeloans.com

FHA Committee

NAMB’s FHA committee provides an avenue for NAMB’s membership to consolidate and voice its concerns to HUD & FHA. Additionally, the FHA committee reports back to our membership any changes in policy or procedures made by FHA that affect how mortgage professionals, originate, process, approve & fund FHA loans.

Through various advocacy efforts & input from our membership, the committee recently worked with FHA to change the dual employment policy and reduce the MIP premiums.

The FHA committee most recently partnered with NAMB’s Education Committee on two exciting new courses. Our Certified Reverse Mortgage (CREV) class, sponsored by Liberty Reverse Mortgage, provides the information & tools necessary to successfully navigate the reverse mortgage process & conversation with potential borrowers, and offers members who successfully complete the class a professional designation.

Our FHA certification class, sponsored by Freedom Mortgage, covers both basic & advanced topics on working with FHA loans and soon will be launched.

NAMB’s FHA committee welcomes & encourages NAMB members to actively participate in committee meetings which are held on the third Tuesday of the month. Email us to join in!

– Ray Edwards, FHA Committee Chair, ray.edwards@namb.org NC

Learn more: namb.org/committees