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“Thirty-nine states were represented at the conference, and I’m proud that the IMA is one of the state associations that takes the time to advocate on behalf of the mortgage industry,” Schulte said. “Jo and I focused on some of the main talking points from the MBA — trigger leads, FHFA pricing concerns — but also took direct feedback from our own members directly to our state representatives regarding the current housing market and needs of Iowans across the state.”
I am also on the Nebraska Mortgage Association and spoke to them. One of the topics they focused on was the Neighborhood Homes Investment Act. This legislation provides a tax credit to rehabilitate blighted single-family homes; help revitalize neighborhoods across America; and increase the supply of affordable, entry-level homes. Laura Burford, past president of the Nebraska Mortgage Association said the following:
“I shared with all the congressmen and senators that even if they create more entry-level houses through this tax credit, if they keep adding LLPA’s it makes it less affordable for first-time buyers to get financing.
“I personally urged them to look at the second home and investment property LLPA’s that were implemented last spring which have made it difficult for individuals to buy these homes. However, there is no impact to slumlords who purchase them with cash and are probably not based in the state they are buying the properties.
“I think a private owner of a rental home in their own backyard would made a better landlord, and ultimately are building their own generational wealth while investing in their community.”
I had the privilege of attending last year, and it opened my eyes to the bigger picture and encouraged me to use my voice to assist all mortgage lenders and their clients in America.
Pictured: Patrick Green (Wells Fargo Bank); Jackson Currell, son of Jo Van Patten; Sen. Joni Ernst; Jo Van Patten (Northwest Bank) and Tom Schulte (Community 1st Credit Union).
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