April 2014 Annual Conference Wrap-up

Members of the Community Home Lenders Association gathered in Washington, DC on April 7-8 for their 2014 Legislative Conference.
Through a combination of interactive conference presentations by a diverse group of speakers and strategically scheduled congressional visits, members had the opportunity to provide significant input to policy makers and into the legislative process and to potential industry supporters. Senior Senate staff for an original cosponsor of GSE reform legislation walked members through the process they used in developing legislation and provided a status update as we approach the April 29th Banking Committee markup of GSE reform legislation. Senior staff from FHFA provided insight as to the thinking and internal processes of the new regime in place under Director Mel Watt.
Representatives of three mortgage insurance companies spoke of the role they think they can play in the new secondary market. Washington savvy senior staff from the National Association of Realtors spoke of potential ways that NAR and CHLA could work together, and took note of CHLA leading the effort to bring about a reduction in FHA premiums. NAR and MBA have now gone on record in support of CHLA’s position.
Congressional visits highlighted CHLA’s efforts to get the CFPB to revise the rule implementing the SAFE Act in a way that treats bank and non-bank loan officers the same in determining if they are qualified. In meetings with members and staff of the Senate Banking Committee and House Financial Services Committee, CHLA members pushed for support of CHLA’s efforts to get FHA to reduce annual premiums. Additionally, with Senate Banking Committee members, the coming markup of the pending Johnson-Crapo GSE reform legislation was a priority. CHLA members made a solid and well received case for the inclusion in the bill of language that would ensure that the mutual co-op is up and working effectively for small lenders before the GSE’s, and their cash window, are terminated.
CHLA staff is formulating plans for the 2014 Annual Conference scheduled for September in Washington, DC. Details will be forthcoming in the near future.