State Legislative Update October 8, 2011 Andrew Szalay, AMP and Chelsea Crucitti MBA State Government Affairs.

State Legislative Update

October 8, 2011

Andrew Szalay, AMP and Chelsea CrucittiMBA State Government Affairs

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My Presentation Today

I. MBA State Government

Affairs Program

II. Current and Emerging Issues

III. Tools for Action

INTELLIGENCE• Exchange Calls• Lobbyists• Legislative Database

ADVOCACY• Correspondence • Visits• Coalitions• MAA State Calls-

to-Action• MBAlerts

STAKEHOLDERS• Member Lenders

• State Mortgage Bankers Associations

• State Legislative and Regulatory Committee (SLRC)

State Mortgage Advocacy

AUDIENCE• 50 Legislatures

• 50 Governors

• 50 Attorneys General

• 50 Regulators

• Mayors

MBA Leadership

MBA Staff

State Cmte.

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Your Point of Contact

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Key and Current State Issues

• SAFE Act and Transitional Licensing – Promote MBA’s Transitional Licensing Model Bill that permits a qualified registered loan originator and a qualified out-of-state loan originator to be issued a transitional mortgage license while meeting applicable state licensing requirements. MBA is already engaging with state legislators, state and federal regulators and state mortgage associations to advocate for such a reform. Additionally, MBA will continue to track SAFE Act implementation and licensing bills.

• Foreclosure Reform and Mediation – Continue to advocate against foreclosure moratorium bills in the states and oppose foreclosure mediation as a mandatory requirement prior to foreclosure. Monitor, report and work to minimize the time and costs of new foreclosure mediation legislation on servicing operations.

• Vacant/Abandoned Foreclosed Properties – Encourage states to adopt an expedited foreclosure process, similar to one enacted in Colorado, for vacant and abandoned properties. Promote the “MERS Vacant Property Database” as an alternative to local ordinances imposing burdensome duties and penalties on servicers to maintain foreclosed properties.

• General Servicing Issues, e.g. tenant notification, data reporting, etc. – Continue to track legislation related to servicing issues, and oppose proposals that increase burdens on servicers and inhibit loss-mitigation efforts. Work to reverse state laws that require servicers or loss mitigation specialists to be licensed.

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• Mortgage Registry and Duplicative State Requirements – Monitor and oppose legislation that attempts to create costly and duplicative mortgage servicing requirements, many of which attempt to challenge or are redundant to MERS.

• Appraisal Requirements – Monitor and report on legislation conforming state law to the new Dodd Frank Act appraisal requirements as well as legislation and regulation affecting Appraisal Management Companies (AMCs).

• Lien Priority Proposals – Identify legislative proposals that place debt in front of the mortgage and oppose those laws, such as those that support Property Assessed Clean Energy (PACE) programs and those that place Home Owner Association (HOA) fees on delinquent home and unit owners in first position.

• Impact of Dodd-Frank – Monitor and assess state legislation trends resulting from the federal Dodd-Frank Act.

• Other Priority Issues: Deficiency Judgments; Private Transfer Fees; Title Insurance; Mortgage Fraud; Reverse Mortgage, Mortgage Call Reports, and other critical issues as they arise.

Key and Current State Issues

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Emerging Issues

• Transitional Licensing (SAFE Act)

• Lien Priority for HOA’s for Longer

Periods of Time

• Vacant Property Owner Definition

• “Fracking”

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MBA and Its Services

Education

Advocacy and Coalitions

Research

Regulatory Policy

Communications

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State Lobby Days

Lobby Day Resource Package:

1.Conference call with MBA Lobbyists on Lobbying Do’s and Don’ts

2.Federal and State Legislative Update

3. Introduction Letter to Legislators

4.Talking Points

5.Advertising: MAA and NewsLink

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State Lobby Days

OMBA's Legislative Committee Presents: 

Storm the CapitolTuesday, March 8, 2011

Darryl Dever Associates140 East Town Street, Suite 142

Columbus, OH 

Schedule of Events 

1:30pm   Registration 

This event is FREE. 

2:00pm  Mini Workshop with Darryl Dever and Adam Hewitt to review talking points on current legislative issues. 

2:30pm - 4:30pm  Meet the Legislators 

5:00pm  Open House Reception at Darryl Dever Associates 

Prior to the event, be sure to contact your representative to set up a convenient time (between 2:30pm - 4:30pm) on March 8th.  For assistance in scheduling your appointments visit the State of Ohio House & Senate online or contact OMBA Executive Director, Bob Niemi.

Register today for the Storm!

Advertise your Lobby Day with a flyer to all MAA members in your state

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2012 Legislative Outlook

• Servicing Regulations/Legislation

• Foreclosure Reform

• Licensing

• Foreclosure Mediation

• Vacant Property Registration/Maintenance

• Expedited Foreclosure

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State Legislative Database

Log on from: mortgagebankers.org/Advocacy/StateLegislativeandRegulatoryResources

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State Calls to Action on Proposed Bills

Mortgage Action Alliance members in Kentucky are urged to take action by contacting their legislators to insist that during May's Special Legislative Session they pass a budget that provides full funding for the Kentucky Real Estate Appraiser Board (KREAB). Additionally, MAA members should insist that if the Kentucky legislature does not enact a state budget by June 1st, funding of the Kentucky Real Estate Appraiser Board (KREAB) should be among those appropriations deemed permissible without a state budget. On April 15, 2010, the Regular Session of the 2010 Kentucky General Assembly ended without the legislature enacting a biennial budget for Kentucky government. Consequently, on April 28, 2010, Kentucky State Budget Director Mary Lassiter sent a letter to all state agencies requesting that they begin planning for a potential shut down of certain state government agencies effective July 1st. Should the legislature fail to pass the budget before this deadline, the Kentucky Real Estate Appraiser Board (KREAB) would cease operations until as such time as the budget is passed. During this potential shut down, Kentucky credentialed appraisers would not be recognized and would not be eligible to perform appraisal assignments for FRT loans, for Veterans Administration, Federal Housing Administration, Fannie Mae or Freddie Mac.  The KREAB is an essential agency of state government and any interruption in its operation would be disastrous for real estate lending within the Commonwealth of Kentucky.

To take action, click HERE to go to the MAA homepage, and click the "TAKE ACTION" button and enter your MAA username and password. If you don't have, or forgotten, your username and password, click on "forgot password" to get started. 

Remember, being a MAA member is free, easy and totally voluntary, and taking action will renew your free MAA membership for one year. If you are not already a member of MAA, you will need to enroll before taking action. To enroll, click here.

MAA is the premier grassroots lobbying organization of the real estate finance industry. The mission of the Mortgage Action Alliance is to further build a network of individuals dedicated to strengthening the industry's voice and lobbying power in Washington, DC and state capitals. Thank you!

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Legislative and Advocacy Resources:

1. SLRC Exchange Calls: Every third Wednesday at

3:00 Eastern

2. Analysis of Proposed Bills and Regs

3. Input from MBA’s policy experts

4. Talking Points

5. Message Developing

6. MBAlerts

7. Bi-Weekly State Legislative Reports

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Thank You.

Andrew Szalay, AMP Chelsea Crucitti

Dir. of State Government Affairs State Government Affairs Spec.

Mortgage Bankers Association Mortgage Bankers Association

[email protected] [email protected]

(202) 557-2941 (202) 557-2811