Current Actions

Support Senate Amendment 2358 to the NDAA and HR 7297

Fri, 25 Oct 2024 04:00:00 GMT

Mortgage Professionals: Act now!

Urge your legislators to support Senate Amendment 2358 to the NDAA and HR 7297. FAMP, along with MBA and NAMB, is working hard to pass vital trigger lead reform, with key legislative leaders such as Senators Jack Reed (RI) and Bill Hagerty (TN), and Representatives John Rose (TN) and Ritchie Torres (NY) championing these efforts.

With just a few months left in the 118th Congress, this is our last opportunity to secure these much-needed consumer protections.

We need your help to get it to the finish line.

Contact your Senators and Representatives today and help ensure this important legislation becomes law!

FAMP - Urge Governor DeSantis to Veto SB 770

Tue, 26 Mar 2024 04:00:00 GMT

The 2024 Legislative session has concluded and FAMP had lots of success in Tallahassee. However, one issue remains and we need your help ASAP. FAMP members have been on the front lines for over 10 years managing client issues with deceptive pace loans. These loans frequently blow up closings and cause unnecessary financial hardship to customers that didn’t understand or fell prey to the terrible terms of most of these loans. SB 770 expands the current PACE loan program to include septic systems, landscaping, drainage, seawalls, and many other home improvements. This expansion will likely result in more Florida homeowners going upside down on bad loans that take lien priority over mortgages, but must be paid off in full before a home is sold or refinanced. Previous versions of the bill contained a crucial protection, capping the loan to value at 97%. During the last week of Legislative Session, this crucial consumer protection was removed. We urge the Governor to VETO this bill and direct the Legislature to protect Florida homeowners from these predatory products without expanding the program.

Please be respectful in all communications.

FAMP Battle Against Trigger Leads

Thu, 02 Nov 2023 04:00:00 GMT

FAMP is asking for your help in our BATTLE AGAINST TRIGGER LEADS! The industry needs more US House and Senate members to co-sponsor H.R. 4198 and S.3502, the Protecting Consumers from Abusive Mortgage Leads Act. FAMP believes this bill will stop predatory mortgage lenders from using "trigger leads" to target consumers. Trigger leads are a type of prescreen report that is generated when a consumer's credit is pulled. Predatory lenders then use this information to contact consumers with unsolicited offers for loans without their knowledge or consent.

H.R. 4198 and S. 3502 would severely trigger leads by requiring credit bureaus certify that they have the consumer's consent or have a current business relationship.

There are a number of reasons why H.R. 4198 and S.3502 are needed in the mortgage industry.

Trigger leads are very misleading. They often make false claims about the consumer's credit score or the interest rates they can qualify for. This can lead consumers to take out loans that they cannot afford or that have higher interest rates.

Trigger leads are harassing. Consumers often receive dozens of calls, texts, and emails from predatory lenders after their credit has been pulled. This can be very stressful and disruptive, especially for consumers who are in the middle of the process to buy a home.

Trigger leads put consumers at risk of identity theft. When a consumer provides their personal information to a predatory lender, they are putting themselves at risk of having their information stolen and used to commit fraud.

H.R. 4198 and S.3502 would help to protect consumers from these predatory practices by limiting the use of trigger leads and ensure consumers have control over their own credit information. Ask your member of Congress to co-sponsor this important bill!

See our President’s letter submitted to Rohit Chopra, Director Consumer Financial Protection Bureau, September 18^th.

Help FAMP Support the HELPER Act!

Thu, 11 May 2023 04:00:00 GMT

Today, affordable housing continues to be one of the top issues in Florida and around the nation. FAMP members see this problem every day. Fortunately, the HELPER Act, aims to make housing more affordable and available for first responders and educators.

Our firefighters, police officers, educators, and EMTs are the backbone of our communities. They work tirelessly to keep us safe and educated, but many struggle to afford a home in the very communities they serve.

The HELPER Act (H.R. 3170) aims to change that. This bipartisan bill would provide critical support to these essential workers by:

Offering affordable mortgage options with no down payment and reduced monthly costs.
Helping them achieve the dream of homeownership and build a secure future.

Please call and email your member of Congress and urge them to support this legislation today!