Hundreds of Independent Mortgage Brokers Advocated for the Broker Community on Capitol Hill
The Association of Independent Mortgage Experts (AIME), a non-profit trade association representing independent mortgage brokers nationwide, proudly celebrated National Mortgage Brokers Day (NMBD) with the successful culmination of a fly-in event on Capitol Hill. Bringing together over one hundred independent mortgage brokers from across the country, the event aimed to engage with legislators and advocate for the needs of the Broker community as well as homebuyers throughout the United States.
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Over 100 independent mortgage brokers were in Washington D.C. to advocate for homebuyers nationwide. (Photo: Business Wire)
NMBD is observed annually on July 18th, recognizing the important role that mortgage brokers play in the housing industry and the tremendous value they bring to consumers seeking mortgage solutions. This year's fly-in event, held in Washington, D.C., was led by Chairman and CEO Katie Sweeney, providing the exceptional opportunity for brokers to personally engage with 51 legislators and Congressional offices, showcasing their dedication to serving the housing needs of diverse communities nationwide.
Katie Sweeney highlighted the significance of the event, stating, “The Capitol Hill fly-in event for National Mortgage Brokers Day was a tremendous success. It served as a platform for mortgage brokers to amplify their voices, express their concerns, and advocate for the betterment of the housing industry and consumers. Through the Broker Action Coalition (BAC), we are proud to facilitate these crucial conversations and ensure that the unique value proposition of mortgage brokers is acknowledged and embraced by lawmakers.”
Recently, the association rolled out its State Captains program, which created over 100 grassroots broker advocates from almost every state in the nation. Through this program, brokers identify and address issues that create barriers to homeownership for consumers in their communities. Many of the brokers in attendance were AIME’s appointed State Captains, each traveling in to represent their state, hone their advocacy skills, and make meaningful connections on Capitol Hill that will make them more effective in their roles.
AIME kicked off the annual celebration in the nation’s Capitol on Monday, July 17th, for the first-ever Broker Advocacy Training Day for the newly appointed State Captains and other influential brokers and industry partners. The training day consisted of over 8 hours of in-depth, hands-on workshop sessions featuring Congressman French Hill (AR-02), Congressman Wiley Nickel (NC-13), Senior Congressional Advisor Ed Skala, Sarah Edelman, Deputy Assistant Secretary for Single Family Housing at the Department of Housing and Urban Development (HUD), lobbying experts from Forbes Tate Partners, best-selling author and transformational speaking coach René Rodriguez, and AIME leadership.
The following day, brokers attended meetings with legislators on Capitol Hill, which saw constructive discussions with lawmakers on various critical topics, including federal issues like protecting homebuyer privacy with regulatory reforms for Trigger Leads with HR 4198, supporting homeownership opportunities for first responders and local heroes with the HELPER Act, and state issues like granting exemptions that allow more disabled Veterans to achieve homeownership with the Disabled Veteran Tax Exemption. VA regulatory issues were also discussed, including VA loan assumptions and VA loan funding fee rules. By sharing their on-the-ground experiences, brokers advocated for policies that foster a healthy and inclusive housing market, ultimately benefiting consumers and local communities nationwide. From these legislative conversations, we’ve already seen movement, specifically with Representatives Marilyn Strickland (WA-10), Mark Amodei (NV-02), and Kathy Manning (NC-06) as new co-sponsors for the HELPER Act.
The National Mortgage Brokers Day celebration also served as a fundraiser for the Broker Action Coalition (BAC), AIME’s grassroots network of brokers and their supporters, which funds the organization’s advocacy efforts for state and federal lobbying campaigns on behalf of brokers and homebuyers nationwide. To strengthen the BAC’s reach and influence even further, AIME launched a new fundraising effort for the BAC with its “Funding The Future” initiative, with the goal of raising one million dollars this year in support of mortgage broker advocacy. Attendees of the fly-in event have already started contributing, along with broker advocates donating from their communities all over the country, raising over $500,00 so far.
“For too long, the regulations of the past have diminished the growth potential of the broker channel, and that needs to change,” states Brendan McKay, AIME’s President of Advocacy and top-producing mortgage broker from Maryland. “Without the BAC’s efforts, not only are our livelihoods at stake, but the American Dream of homeownership slips out of reach for consumers nationwide. We need to build influence and awareness in the seat of government to effect change at the top, and that’s exactly what the BAC is doing.”
AIME’s fly-in event culminated with the National Mortgage Brokers Day Fundraising reception, which hosted hundreds of brokers. The fundraising reception will support countless further opportunities for brokers to build relationships with legislators to spread awareness of the issues facing the mortgage industry and future homebuyers. Key Members of Congress also attended, representing the most influential policymakers in the housing industry, including multiple members of the House Financial Services Committee, which is responsible for many aspects of legislation that directly impact the housing industry.
- House Majority Whip Congressman Tom Emmer (R-MN- 06) - Member of House Financial Services Committee
- National Republican Congressional Committee Chairman Richard Hudson (R- NC-09) - Member of the House Energy and Commerce Committee
- House Financial Services Committee Chairman Patrick McHenry (R-NC-10) - Chairman of House Financial Services Committee
- Congressman Warren Davidson (R-OH-08) - Member of House Financial Services Committee
- Congressman Andy Barr (R-KY-06) - Member of House Financial Services Committee. Chair and Subcommittee on Financial Institutions and Monetary Policy
- Chief of Staff for Congresswoman Nikema Williams (D-GA-05) - Member of House Financial Services Committee and Subcommittee on Housing and Insurance
- Congressman Josh Gottheimer (D-NJ-05) - Member of House Financial Services Committee
- Congresswoman Joyce Beatty (D-OH-03) - Member of House Financial Services Committee
- Congressman Mike Bost (R-KY-06) - Chairman of House Veterans Affairs Committee
- Congressman Gregory Meeks (D-NY-05) - Member of House Financial Services Committee
- Congressman Blaine Luetkemeyer (R-MO-03) - Member of House Financial Services Committee and Member of Subcommittee on Housing & Insurance
- Congresswoman Ann Wagner (R-MO-02) - Member of House Financial Services Committee and Chair of Subcommittee on Capital Markets
- Congressman Emanuel Cleaver (D-MO-05) - Member of House Financial Services Committee and Ranking Member of Subcommittee on Housing and Insurance
- Congressman Jim Himes (D-CT-4) - Member of House Financial Services Committee
“Ultimately, our mission is to help people help more people, and we’re putting our advocacy into action by striving for legislative change that will benefit the entire wholesale mortgage channel,” adds Sweeney. “Whether you’re an AIME member or not, our advocacy initiatives are building a better future for everyone in the wholesale channel – but support from all avenues is critical to do this efficiently and at the speed consumers deserve.”
About the Association of Independent Mortgage Experts
The Association of Independent Mortgage Experts (AIME) is a non-profit, national trade membership association created exclusively for independent mortgage brokers. With over 65,000 members, AIME is committed to establishing a community of independent mortgage experts by creating an association that empowers them with unparalleled technology, continued education, broker advocacy, and networking support necessary to successfully advise consumers nationwide with their residential mortgage needs. AIME operates with a growth-focused strategy, providing tools and resources to propel the wholesale channel beyond a 25% share of the mortgage market in 2023 and to a majority of the market within the next decade.
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Contacts
Media:
Jennifer Leonard
VP, Marketing
communications@aimegroup.com
