MBANow: MBA SVP Bill Killmer on Regulatory Reform

The Mortgage Bankers Association released a new MBANow video featuring MBA Senior Vice President of Legislative and Political Affairs Bill Killmer, who discusses recent regulatory efforts on Capitol Hill and the upcoming MBA National Advocacy Conference.  

The video can be viewed at https://www.youtube.com/watch?v=uFD8jwvFTD0&feature=em-uploademail.  

The Senate recently passed S. 2155, a massive regulatory relief bill that had support from MBA. Killmer said the bill was aimed toward relief for community lenders. “We’ve been working literally for years and over the past several months in earnest when the bill was marked up by the Senate Banking Committee in December to ensure that there was some kind of relief for a broad array of our membership as well,” he said.

Killmer said S. 2155 is more consumer-friendly and would promote more competition by allowing more labor force mobility through amending the SAFE Act and giving mortgage loan officers transitional authority to originate loans when they’re moving to new jobs. It also more closely defines the Truth in Lending Act; gives service members greater protections and includes a provision that would more accurately help gauge what should be or not be deemed a High-Volatility Commercial Real Estate loan. “We expect regional economies to improve,” Killmer said.  

The bill now moves to the House; Killmer said a great deal of work remains in reconciling House and Senate version of the bills before heading toward final passage.  

The National Advocacy Conference takes place Apr. 24-25 in Washington. “There are a number of urgent issues for us to work on,” Killmer said. “It’s no longer representation by proxy; it’s the members that have to help us make a difference.”  

For more information about the National Advocacy Conference, and to register, visit www.mba.org/NAC18.

Other videos in the MBANow series can be viewed at the MBANow website: https://www.mba.org/get-involved/stay-connected/mba-now.