Roy DeLoach Reports on Washington

Services for Real Estate Pros - NAMB
The conference report on Finance Reform was approved around 5:30 am on Friday morning and is expected to be on the House and Senate floor next week. Following is a quick summary of what we know at this point regarding several of the items NAMB has been advocating for during conference committee c...
  Call-to-Action   Dear Real Estate Professional,   Tomorrow morning (Wednesday), the Senate will vote on an amendment offered by Senators Merkley (D-OR) and Klobuchar (D-MN) to S. 3217, the “Restoring American Financial Stability Act of 2010,” that would adversely affect mortgage brokers by proh...
I am trying to get the word out to all mortgage brokers that they can go on FHA connection, pay a fee and re-certify so that they can originate FHA loans. No 2009 audit is needed. Apparently many mortgage brokers have not recertified their approval at FHA and paid their fee, likely because of con...
New FHA Rules The National Association of Mortgage Brokers has advocated for over two years NEW FHA rules on mortgage broker approvals that we now see coming into effect. These changes will save mortgage brokers thousands of dollars each year. Here are some early clarifications on the new rules i...
On Monday I posted about the consideration of the Financial Regulatory Reform bill by the U.S. Senate Banking Committee. As we had been hearing, the committee passed the bill along party lines in order to begin the process of negotiation before it is potentially considered by the full Senate. Bel...
The Senate Banking Committee is taking up consideration of the Financial Reform bill today at 5 pm Washington time. It appears as of this afternoon that Chairman Christopher Dodd and the senior Republican member Richard Shelby are working cooperatively on a "no amendment" strategy in order to mov...

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