NMP - October 2016 - 96

MBA's Mortgage Action Alliance A Message From MAA Chairman Fowler Williams he Mortgage Action Alliance (MAA) is a voluntary, nonpartisan and free nationwide grassroots lobbying network of real estate finance industry professionals, affiliated with the Mortgage Bankers Association (MBA). As November swiftly approaches, the political landscape is increasingly dominated by the elections. However, MAA advocacy continues to help push forward necessary reforms for the health of the mortgage industry and make sure policymakers in D.C. understand what's going on in the real estate finance in your community. The long awaited revamp of the Uniform Residential Loan Application (URLA) was finally published-giving the mortgage industry time to analyze the new documents and implement the necessary systems changes by the Jan. 18 effective date. Mortgagerelated regulatory developments continue, including the implementation of the Telephone Consumer Protection Act and actions by the U.S. Department of Housing & Urban Development (HUD) related to downpayment assistance and HECM loans. And in an announcement sent to lenders, the USDA announced a reduction in both its upfront and annual guarantee fees for the Rural Housing Service's Section 502 Single Family guaranteed loan program. Check out the new feature on MBA's Advocacy Action Center, the Elections Page, to easily look up the federal and state candidates running for office in your area along with information about the election, and even register to vote. Go to Action.MBA.org or visit the Elections Page and try it out yourself! Stay updated on current events in Washington, D.C. and your state capital by connecting with the MAA on social media. Check out the MAA's Facebook Page where the latest political news is posted, as well as MAA "Calls to Action." You can also join the MAA group on LinkedIn to connect with fellow advocates and expand your network! The Mortgage Action Alliance recently sent out a letter asking MAA members about any personal relationships that they have with their elected officials. These relationships can be incredibly valuable to our advocacy efforts on behalf of the industry. Please consider joining MAA and helping us leverage your personal relationships to advocate on behalf of our industry. The industry's ability to navigate and manage these policy challenges is critical to our efforts in serving consumers around the nation. Visit our Web site at Action.MBA.org to learn more. Getting involved with MAA allows industry professionals to play an active role in how laws and regulations that affect the industry and consumers are created and carried out by lobbying and building relationships with policymakers. It only takes a moment to get started, and you do not have to be a member of MBA to enroll. The larger the group, the louder the voice! If you would like to run an MAA campaign, please contact Peter Shapiro at (202) 557-2933 or e-mail PShapiro@MBA.org to receive an Enrollment Campaign Kit and learn more about how you can engage your colleagues and employees in MBA's advocacy programs. T Fowler Williams is chairman of the Mortgage Bankers Association's Mortgage Action Alliance. He is also president of Atlanta, Ga.-based Crescent Mortgage. He may be reached by phone at (800) 851-0263 or e-mail FWilliams@CrescentMortgage.net. keeping pace continued from page 95 investigative process. A suspension or revocation is punitive, but does nothing to improve an appraiser's performance. If the appraiser is not a danger to the industry, education is a solution that will promote the ultimate goal of public protection. While the initial purpose of the discipline may not have any intention of being punitive, an appraiser who holds multiple credentials is often penalized in the other jurisdictions which adds the burden of appraiser fines, more education, and additional scrutiny, as well as the loss of business. This is a concern and sometimes referred to as the "pile on" or "domino" effect. Just because another regulatory agency can discipline an appraiser doesn't mean they should. State regulatory agencies need to use caution when reviewing an appraiser's violation from another state and discretion in determining whether additional action is necessary. It is my opinion that the public trust and protection should be the primary and only goal of those secondary states reviewing the discipline. Going forward This is meant to initiate conversation and to challenge improvement within the industry. This is not meant to advocate for any appraiser who is a habitual offender or fraudulent. This discussion and consideration should be for the appraiser who made a mistake. Perhaps in your mind this is not relevant. Ask yourself if you would want your future income potential, or employment opportunities, to be defined by one bad day at work? Thoughts to consider and conversation starters: l If a lending institution believes disciplined appraisers should not be used for appraising properties, why aren't lenders filing complaints with state boards? Remember, not filing a complaint with a state regulatory agency is a violation of DoddFrank. l If an appraiser is disciplined and subsequently loses clients, has justice been served? Has it made the appraiser better at his profession? Was the public protected? l States have varying levels of tolerance for appraisal violations. Two appraisers, two states, same violation: One could receive public discipline with education and a fine the other could be given a warning with no public record. l Could the industry be inadvertently pushing the use of less experienced, less competent appraisers because the best appraisers may have a disciplinary action from years ago? l Unless it is a suspension, revocation, or voluntary surrender of a credential, not every state makes disciplinary action a public record. Just because it isn't reported doesn't mean it didn't happen. Is this fair and equitable to the appraisers that live in other states? l What about crimes of moral turpitude? It's not a regulatory action if the state board doesn't consider it to be a matter of moral turpitude. Will your agency rely solely on the state appraiser board's decision? l Most states do not have a disciplinary "one-size-fits-all" because they take into consideration mitigating circumstances. Should lenders consider mitigating circumstances in their own right? l Could the current method of excluding disciplined appraisers lead to a watered down state disciplinary effect? l How old must the discipline be to no longer be a consideration? Should this depend on what the infraction was? l If the appraiser is in good standing in the states of certification should that not be enough to satisfy the lender? There are fraudulent appraisers out there, there are also some very capable appraisers who have made an error. The industry's attempt to negate the use of the unethical appraiser has created unintended consequences, which has eliminated some highly-skilled and competent appraisers. If the industry will not change its course from today's trend of using appraisers with flawless disciplinary records, it could be creating its own appraiser shortage. Toni Bright is chief compliance officer for CoesterVMS in Rockville, Md. Toni's prior experience includes eight years as a real estate broker and time spent teaching junior high and high school English. She may be reached by phone at (240) 696-2467 or e-mail TBright@CoesterVMS.com. http://Action.MBA.org http://Action.MBA.org

Table of Contents for the Digital Edition of NMP - October 2016

Table of Contents
NMP - October 2016 - Cover1
NMP - October 2016 - Cover2
NMP - October 2016 - 1
NMP - October 2016 - Table of Contents
NMP - October 2016 - 3
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