WASHINGTON — Two of the nation’s largest mortgage broker trade groups are joining forces on a lobbying push in Washington, seeking to advance shared policy priorities for independent mortgage professionals.
The National Association of Mortgage Brokers and the Broker Action Coalition are co-leading a three-day summit beginning April 20, billed as “Advocacy in Action: Better Together,” Scotsman Guide reported.
The groups said their top priority is credit score reform, particularly efforts to reduce rising credit report costs that affect both brokers and consumers.
“No. 1, what we’re addressing at this conference is credit. Period,” NAMB President Kimber White told Scotsman Guide.
Brendan McKay, co-founder and chief advocacy officer of the Broker Action Coalition, said the event will focus heavily on educating brokers to advocate for reforms when meeting with lawmakers.
“Every single broker will be talking to congressional offices about how out of control credit report costs have gotten,” McKay told Scotsman Guide.
Top of Agenda
According to the report, participants will take part in policy briefings, strategy sessions and meetings with members of Congress and their staff, with credit-related issues at the top of the agenda.
The collaboration marks a shift for the two organizations, which have historically operated separately. Scotsman Guide reported the partnership began taking shape after conversations between White and McKay at an industry conference in Las Vegas last October.
Both leaders said the industry must move past internal divisions to more effectively influence policy.
“In the past four years, lots of things changed,” White told Scotsman Guide, adding that mortgage professionals must “grow past people’s differences of opinions” to present a unified message in Washington.
‘Broader Commitment’
McKay said the joint effort is intended to signal a broader commitment to industry alignment.
“We sat down to talk about working together rather than working in parallel, and this is what came out of it,” McKay told Scotsman Guide.
While both organizations will maintain separate operations, they said the partnership is designed to strengthen their collective advocacy efforts.
The groups pointed to the passage of legislation targeting so-called “trigger leads” — aimed at reducing unsolicited marketing calls to prospective homebuyers — as an example of how coordinated industry advocacy can lead to policy changes, Scotsman Guide reported.
