Advocacy: State and National
By Regina Uhl, Partner, February 19, 2021
Whether you vote red, blue, green, coffee or not at all, and regardless of whether you are happy, unhappy, or indifferent with regards to the outcome of the election, you can always advocate at both the national and state level for issues impacting our industry.
You may recall the fall of 2020 when the Adverse Market Refinance Fee was set to be implemented on September 1, 2020, by FHFA; the national advocacy effort that ensued was successful in delaying the implementation date until December 1, 2020.
Although many advocacy events were cancelled in 2020 and some 2021 events are cancelled or uncertain, there is frequently a call to action, like the Adverse Market Refinance Fee, that provides all of us the opportunity to advocate for our industry without having to travel to state or federal capitols. The Mortgage Bankers Association (MBA) National Advocacy Conference scheduled for May 2021, may or may not proceed as planned. State industry groups likewise may follow suit depending on pandemic circumstances in their region.
The Texas Mortgage Bankers Association (TMBA) Advocacy Day 2021 is changing formats and going virtual. The Texas legislature meets every two years; the previous session was 2019, and the current session is 2021. In light of this, TMBA Advocacy Day will continue, but virtually, instead of in person. Limitations on Capitol visitors, pandemic numbers affecting local ordinances, and individual representative’s office protocols all contributed to that decision. Notwithstanding said changes, a virtual advocacy may be more accessible to individuals in the industry. The time, travel, and expense of an in person advocacy (though well worth it in my opinion) is not an option for everyone and going virtual greatly reduces those commitments. It is my hope that more companies and individuals respond to the virtual call to advocacy.
Advocacy provides the opportunity to talk with our representatives and their offices about the issues that positively or negatively impact our industry, consumers, the housing market and economy. As an advocate, you are the subject matter expert educating and informing our legislators. Constituents are always appreciated, but remember if you or your company originate loans in the State of Texas, you can still advocate for the consumers of Texas and the mortgage industry. We need you. Join us in Texas, virtually, March 22-23, 2021.* Join us nationally for MBA’s next National Advocacy Conference, and join your state industry groups when they advocate at their state level.
*Membership in TMBA is required to attend TMBA’s Advocacy Day. Author is co-chair of the Advocacy Committee of TMBA and TMBA Advocacy Day 2021.
In this blog post concerning legal and regulatory matters of interest to the mortgage industry, Sandler Law Group (SLG) provides general information and industry observations that are not motivated by or concerned with a particular past occurrence or event, or a specific existing legal problem of which SLG is aware. Nothing published herein is intended to constitute legal advice and the use of the blog post by a reader shall not give rise to an attorney-client relationship with SLG. SLG expressly disclaims any representation of accuracy or reliability as to the content of this blog post, as well as any obligation to maintain such content over time or to ensure it is free from errors. Brad Cope is the attorney responsible for the SLG content of this blog post. Unless otherwise noted, the attorneys of SLG are not certified by the Texas Board of Legal Specialization.