MBANow: MBA Chairman-Elect J. David Motley on Capitol Hill Testimony

The Mortgage Bankers Association released a new MBANow video on YouTube featuring MBA Chairman-Elect J. David Motley, CMB, who testified Mar. 29 before a House Financial Services subcommittee.

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

In his testimony, Motley, president of the Colonial Savings FA, Fort Worth, Texas, called on Congress to remove regulatory impediments that have imposed unnecessary burdens on mortgage banks and restricted credit to vulnerable consumers.

“Financial regulations are having a huge impact on lenders’ ability to serve our customers, particularly at the low-income level, which affects primarily, or to a large extent, multicultural borrowers and minorities.” Motley said.

Motley said it’s important for MBA to have a visible presence on Capitol Hill, such as in testimony at House and Senate committee hearings. “Legislators and regulators really don’t understand the street-level impact of their rules,” he said. “Our job is to help them understand that, through real-live stories about how we can or cannot help our constituents.”

Other videos in the MBANow series can be viewed at the MBA YouTube channel, https://www.youtube.com/watch?v=Swk2VUJeZFI&feature=em-uploademail. The videos are also available on the MBA Insights landing page, https://www.mba.org/publications/insights/insights-publication##SubscriberID####RND##&PageID=21109.