American Association of Private Lenders announced the members of its inaugural Government Relations Committee (GRC.) The committee serves as the association’s implementation arm for its advocacy goals.
“Now is the time to enter the legislative advocacy arena,” said Linda Hyde, AAPL managing director. “Our industry has grown to a point that we can no longer count on our niche status to keep us out of regulatory crosshairs. We’ve helped our industry self-regulate via our Code of Ethics for a decade. It’s time to leverage that longevity now that the window of opportunity is at its widest.”
AAPL’s GRC will monitor state and federal legislative activity for potential impacts to private lenders; create and implement advocacy objectives, including sending policy briefs and managing grassroots campaigns; and provide expert testimony to legislatures.
“We are excited to enable our GRC to have direct, personal involvement in our advocacy efforts and the legislative process,” said Hyde. “In this way, our wider membership is assured that the lobbying on their behalf is being carried out by people who live and breathe their same business and operational hurdles. From our meetings with Capitol Hill legislators, we know that individual voices raised in unison can speak louder – and more effectively – than just a lobbying firm.”
For 2019, AAPL will be focusing on several initiatives, among them creating exemptions for business-purpose loans collateralized by real property and limiting licensing requirements for private lenders.
“We believe that relative freedom from the operational burden of regulatory compliance is key to private lenders’ continued ability to remain fast and flexible in fulfilling their clients’ capital needs,” said Hyde. “These elements are what allows us to fill the gap – and the ever-increasing demand – for capital outside the heavily-regulated conventional lending industry.
The inaugural Government Relations Committee members are:
- Cort Chalfant, Nexus Private Capital
- Mike Fallot, MM Lending
- Matt Gunter, RCN Capital
- Melissa Lucar, Geraci Law Firm, ex-officio member
- Ted Parker, Millennium Trust
- Chris Ragland, Noble Capital
- John Tedesco, Appraisal Nation
To find out more about AAPL’s government relations efforts, visit: https://aaplonline.com/government-relations
About the American Association of Private Lenders
American Association of Private Lenders (AAPL) is the national organization representing the private real estate and peer-to-peer lending industry. Its three core principles – Excellence, Ethics & Education – provide a foundation for the new generations of real estate capital: private lending. AAPL serves as a catalyst for industry growth by fostering awareness, promoting best practices and encouraging a standardized code of ethics for its membership. AAPL is a part of Affinity Worldwide, a constellation of companies created to empower and support investors in the real estate industry. More information can be found at www.aaplonline.com and www.affinityworldwide.com.
Leave A Comment