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NAMB Call to Action
Tell Congress to Help Low to Moderate Income
Consumers and the Economy and Support
The Mortgage Fairness Act of 2015
NAMB is asking its members and other housing industry professionals to get behind HR 3393, the Mortgage Fairness Act of 2015 sponsored by Rep. Posey and Rep. Ross.
This bill is a technical correction that will create greater access to credit for many low to moderate income consumers that have been limited in their home buying options due to affordability and smaller loan amounts.
Please reference the NAMB Talking Points before contacting your members of congress.
The text of HR 3393 can be found HERE.
If you have any questions or comments about this legislation, please reach me anytime at
2015 NAMB Government Affairs Chair
NAMB Call to Action
#MortgagePros, Help Your Industry
Stop the Tax On Homebuyers
NAMB is joining other industry trade groups in calling for the elected representatives in Washington, DC to stop trying to tax homebuyers via increased G-Fees to pay for non-housing related items.
We have seen G-Fees attempted to be used as a "pay for" for coastal cleanup, immigration reform, and other non-housing items...and the industry successfully stood together to stop them. Now, we must do it again.
Please call your representatives, especially your senators, and tell them "No" to increasing the cost of housing.
Here are a few talking points:
- Increased G-Fees amount to a de-facto tax on homebuyers and will raise the cost of housing at a time when affordability is already tight for millions of Americans
- Homeownership rates are already at 25 year lows. A robust economy needs a robust housing market. Any move that harms consumers will dampen the recovery
- Increasing G-Fees can further delay any meaningful housing finance reform
- G-Fees should only be used for the purpose of minimizing loss exposure to the government sponsored enterprises, investors, and American taxpayers.
Support the Mortgage Forgiveness Tax Relief Act
Mortgage Professionals Push To
Help Consumers and National Economy
Homeowners still need more time to get out from under the downturn in home prices. Banks and insurance companies were granted extraordinary relief during these times and we ask Congress to pass an expiring tax provision that will help homeowners find tax protection relief when they sell their homes.
NAMB is urging the Senate to include in the tax extender package ''The Mortgage Forgiveness Tax Relief Act,'' as soon as possible in the few remaining days of this session of Congress.
This legislation would extend an expired provision that has helped millions of distressed American families by allowing tax relief for homeowners when lenders forgive some portion of the mortgage debt they owe. There are millions of homeowners who found themselves in homes they could not sell or afford. There are estimates of over 5.3 million homes are still under water. Congress should send these homeowners one more lifeline to financial freedom.
If this provision is not enacted, homeowners trying to make a fresh start will have to pay income tax on ''phantom income'' when selling their home. Without this provision, we will further destabilize the housing market, disrupt communities, and delay the return of homeowners to financial stability and back on the road to home ownership.
John L. Councilman, CMC, CRMS
NAMB The Association of Mortgage Professionals
Please share this with your representatives, your colleagues, referral partners, and clients. It is important for everyone's voice to be heard on this topic.
For more information on NAMB's Government Affairs projects or on how you can get involved, contact NAMB GA Chair:
Rick Bettencourt firstname.lastname@example.org.