NAMB meeting with CFPB today!

05 Nov 2013 10:35 AM | Anonymous

From NAMB site:

I am pleased to report that YOUR participation in helping NAMB collect data about consumer credits and the impact the QM's 3% point and fees cap has really turned some heads in D.C.


NAMB, along with other trade groups such as MBA and NAR have been invited to meet with Director Cordray and his staff on to discuss the impact of the points and fees cap, the disparities against mortgage brokers, and the ability for consumers to truly shop and compare mortgage loans.


Our efforts, along with your support, really do go a long way. We may not always make our efforts public, but understand that we have our industry's best interest as well as that of the consumer at heart. For example, we met with the CFPB two months ago to discuss consumer credits, our efforts were picked up and reported positively by the main street press, and here we are with an invite from Director Cordray himself. 


NAMB does have open lines of communication with our regulators and we will continue to work with them to improve the state of housing and do what is best for the consumer. 

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