What brokers must know about the latest on critical issues

Even with two housing bills still being debated in Washington and a housing executive order signed by President Donald Trump, the work on mortgage-related legislative issues is never complete.

While some of the issues deal with current pressing issues like housing affordability and rising credit costs, other issues, like loan originator compensation reform, have been debated for years. New issues are popping up as well, as FHFA condo rule reforms have drawn a strong reaction from the industry.

Last year, the mortgage industry and its various trade groups all joined forces to push through a ban on trigger leads. Despite some disagreements on other issues, one thing they all agree on is that there is a better chance of a positive outcome for the mortgage industry with a united front than with a divided one.

With the work continuing on Capitol Hill, one mortgage veteran is hopeful that the industry can come together once again to fight to make the dream of homeownership a reality for more Americans.

Kimber White (pictured top), president of the National Association of Mortgage Brokers (NAMB), discussed some of the issues he and others in the industry are discussing on a daily basis.

“I think some of the broad topics right now deal with affordability,” White told Mortgage Professional America. “We're still dealing with affordability and programs for affordable housing. Also, one of the initiatives that we're talking about is credit costs. Those are major initiatives that we all need to discuss. There are different ways. Each trade group has its different initiatives, but we’re working together and trying to come up with a solution.”

With the idea of working together being a better plan than working separately, NAMB and the Broker Action Coalition (BAC) will come together for an event in Washington DC from April 20 to 22.

White said the idea came together pretty quickly after a conversation with BAC’s chief advocacy officer and co-founder, Brendan McKay.

“We're really excited,” White said. “We have a good group, and it should be a good event. My big initiative is working together and bringing the industry together, and trying to do what's best for the industry. Brendan McKay and I had talked in Vegas about possibly doing work together in the future at the MBA conference.