kbaker
910 Posts |
 Posted - 11/05/2007 : 07:07:23 AM
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To: All NAMB Members
From: Denise Leonard, NAMB Government Affairs Chair
RE: National Teleconference to Discuss H.R. 3915 the "Mortgage Reform and Anti-Predatory Lending Act of 2007"
When: Monday, November 5th at 1:00pm EST (12:00pm CST, 11:00am MST, 10:00am PST)
Call in number: 1-888-732-6202
Pass Code: 670148
Please call in early, as this is a national conference call and 'space' is limited.
On Monday, October 22, 2007, House Financial Services Committee Chairman Barney Frank (D-MA), along with Representatives Miller (D-NC) and Watt (D-NC), introduced H.R. 3915, the "Mortgage Reform and Anti-Predatory Lending Act of 2007."
If enacted, this bill would ban yield spread premiums (YSP) in an effort to prohibit steering; establish a federal duty of care; create an ability to repay standard; and impose limited liability to secondary market securitizers. This bill would also call for licensing and registration of all mortgage originators, regardless of where they work, in addition to criminal background checks, testing and continuing education.
This is a critical time. Please join us for an important teleconference on H.R. 3915 moderated by NAMB Executive Vice President Roy DeLoach and NAMB Past President Joe Falk.
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