Industry Professionals,

We have made tremendous strides and now we need to TAKE ACTION and FINISH STRONG against HR 3915, The Mortgage Reform and Anti-Predatory Lending Act of 2007.  Below there is another CALL TO ACTION!

Due to the tremendous response of our Industry Professionals and the tireless work of groups like The National Association of Mortgage Brokers, our congressmen have made changes to language of two of the most damaging pieces of this legislation:

1. They have clarified the language regarding Yield Spread Premium, so now we will still be able to get compensated for our work.
2. They have preserved the right for homeowners to finance closing costs into a loan

These changes are key to turning this bill from one that hurts Industry Professionals into one that HELPS homeowners and potential homeowners!  Great job to all for voicing their concerns!

WE ARE NOT DONE YET!

There is still one piece of this legislation that will have dire effects on our industry.  Title III, which proposes changes to HOEPA that will adversely affect consumers' ability to obtain mortgage financing, must be amended or removed entirely.  If left in its present language, this Title will lower Section 32 High Cost Triggers to a level that would encompass a large number of the Mortgage Products that we are using today!  We all know that Section 32 loans are near impossible to close so we must once again voice our concerns about this Title!

Below there is a quick, easy CALL TO ACTION regarding Title III.  The link will allow you to again contact your congressmen with a pre-written email in regards to Title III!  I urge you to ACT NOW!

CLICK HERE TO TAKE ACTION AGAINST TITLE III

FINISH STRONG!

Your mortgage partner for life,