The Senate financial regulatory reform bill, S. 3217, the Restoring American Financial Stability Act of 2010, is being debated by the full Senate. This bill's risk retention provisions would have a devastating impact on the nation's real estate market. However, a bipartisan amendment to the proposed legislation has been offered by Senators Mary Landrieu (D-LA), Kay Hagan (D-NC), and Johnny Isakson (R-GA) to develop regulations that would exempt certain "qualified mortgage loans" from the risk retention requirements of the bill.
Please take action NOW to urge your senators to support this amendment to S. 3217 to ensure that the nation's real estate market has ample liquidity for high quality, well underwritten mortgages.
Visit the following link to learn more about joining Mortgage Alliance Action:
MortgageActionAlliance
The Mortgage Action Alliance (MAA), Inc. ® is a voluntary, non-partisan and free nationwide grassroots lobbying network of real estate finance industry professionals, affiliated with the Mortgage Bankers Association
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